When are my 6 years up ?

Kev64

Hi,

I have a default on my credit report from a loan I was guarantor on six years ago, but where the payments weren't maintained (I wasn't aware :-( ). My credit report has the default notice served in Feb 2003, satisfied in March 2003 (once I paid it all off), and Account Closed on 31st March 2003.

I'm wondering exactly when it would be safe to start applying for a loan to pay off my cards (then close them). I don't want to damage my score by getting refusals, but likewise, I don't want to keep paying 17.9% on card interest any longer than I need to.

I presume the likes of Experian, Equifax & Callcredit will automatically adjust my credit score once the default notice drops off the end of the six year period, and that I don't need to do anything myself ?

Many thanks !

Kev.

GeorgeUK

It should drop off 6 years after the date of default, but you sometimes need to prompt them.

I would either get a copy of your credit report free from experian or equifax, alternatively you could pay to see them for £2 each - from all 3 CRA's just to make sure it has come off. Do you know the exact date of the default?