When does a default get removed from file ?

Andybez38

I have checked my file from experian and have a default as listed below. I have paid it off and is shown as satisfied now. What im wanting to know is when will it be removed? When the defaut is removed will this increase my credit score greatly?


Company name: MINT
Account type: Credit Card / Store Card
Special Instruction Indicator: Gone Away
Special Instruction Start Date: 04/2002
Started: 23/07/1996
Default Balance: £3,239 :eek:
Current Balance: Satisfied :T
Defaulted On: 29/09/2000
File updated for period to: 11/07/2004
Status History:
(8)

CIMA_LOVER

The default will be removed by 29/09/2006, six years, after the default started. I'd wait another month on top, to my sure your files updated.

jonesMUFCforever

Have Mint been going that long?
I thought it was a newish card.

Andybez38

ejones999 wrote:

Have Mint been going that long?
I thought it was a newish card.

When i defaulted it was an rbs advanta card which became mint i think.

The_Boss

Yeah, definitely wait for about a month after. I check my Experian report every month, and most of my credit people report my info to them on the 5th of each month (probably wont be the same for you). But sometimes the Experian file on about the 18th will still show its not updated, then a week later it will have the update, but with the 5th of the month down as the last update.

So basically, the company still updates Experian on the 5th, but they dont get around to processing it for almost two weeks.

Andybez38

Do you think i should wait untill say November 2006 before applying for cc,s etc and do you think my score will improve when not having a defaulted account showing? obviously whist keeping up payments on other accounts in the mean time.

The_Boss

You will be a lot more creditworthy for sure - as they wont score you down using the info as the info will not be there.

Waiting till mid november would be sensible - if you get rejected by a company because they act on the information showing the deafult, then this will waste a search, which would bring you score down again. Better to be safe than sorry.