Credit Scoring Question

100mel

In the case of a default on one's credit record which is marked as satisfied although the actually default is there for six years does the fact that it has been satisfied do anything to improve the credit score? When potential lenders hit the button what do they see - is it the whole of the record or do they just get a score?

Mel

tango

100mel wrote:

In the case of a default on one's credit record which is marked as satisfied although the actually default is there for six years does the fact that it has been satisfied do anything to improve the credit score? When potential lenders hit the button what do they see - is it the whole of the record or do they just get a score?

Mel

Not sure what they see,but the fact that it is satisfied will defintely improve the credit score,but it will go against that person that they had a default in the first place

THE_LONE_RANGER_4

When They Check Your File They Will See It Is Satisfied They Will Then Take That In To Consideration When Granting You A Loan,this Would Be Looked At As Positive So Can Only Improve Your Credit File But All Lenders Take Different Things On Board When Granting A Loan

debt_mountain_2

I used the process outlined here 2 weeks ago and sent letter1 to all 5 of the companies I have satisfied defaults with.

Yesterday I received my first reply (Nationwide) and they have confirmed my default has now been removed. I am still a customer with them so not sure if that makes a difference.

YeaHaa

Old_iron_balls

great link that.
I have one satisfied default.
I might give it a try if i can get my dam printer to work !

debt_mountain_2

That link was very helpful to me and gave a great feeling when I started writing and posting the letters.

Even better when I got a positive response with the first one as it was the most recent and I thought they would have all their records uptodate. The other defaults I have are 3-5 years old so I am hoping they cannot prove they followed procedure and have to remove them.

I have also had a CCJ (Decree in Scotland) removed as it was paid within the required 30 days of the hearing and this means I can have it removed once I send the letter from the organisation saying I had paid and when, to the Registry Trust company.

These will help me regain a better credit rating in the near future.