Default Removal?

never-in-doubt

Fergie76 wrote: »

How much 'effect' does a 3 year old settled default have on your credit rating any?

Not that much in fairness, most lenders perform what is known as a 3yr search so if you're clean for the last 3yrs it will go unnoticed totally, if you had missed payments or something bad they would perform a full 6yr search and see it.

My mate sutton over here has 2 defaults (3yrs old) and recently got 2 credit cards and 4 bank accounts - only since they became 3 years old though, it means playing our game and applying to the correct lender at the right time and not being silly with delusions of granduer....

See here: The Sub Prime Credit Thread - Part V and here: Sygma Bank Credit Cards

Fergie76

never-in-doubt wrote: »

Not that much in fairness, most lenders perform what is known as a 3yr search so if you're clean for the last 3yrs it will go unnoticed totally, if you had missed payments or something bad they would perform a full 6yr search and see it.

My mate sutton over here has 2 defaults (3yrs old) and recently got 2 credit cards and 4 bank accounts - only since they became 3 years old though, it means playing our game and applying to the correct lender at the right time and not being silly with delusions of granduer....

See here: The Sub Prime Credit Thread - Part V and here: Sygma Bank Credit Cards

I recently got a Barclaycard Platinum card, so my record is goodish. I have had not missed payments in the last 3 years on any of my 3 credit files, only this default. I was recently refused a loan and think it was because of this default, as the 3 year period is not up until October.

never-in-doubt

Fergie76 wrote: »

I recently got a Barclaycard Platinum card, so my record is goodish. I have had not missed payments in the last 3 years on any of my 3 credit files, only this default. I was recently refused a loan and think it was because of this default, as the 3 year period is not up until October.

That explains it - best to apply to your own bank for a loan after the default is 3yrs old.... you may find you fly through...