Default Removal

bunny1982

i am new to this forum business :doh:and was hoping someone could help me!

i have recently began the long road to improving my credit rating, i have a default on my credit file and as they only stay on a credit file for 6years it is due to come off in november, i was wondering if someone could advise me on how this will effect my credit when the default does come off! will my credit automatically improve and if so by how much?

bunny1982

I would really appreciate some advice on this as i have been told so many different things!

Tixy

Hi

If the default currently settled?

If its settled then once it goes from your report you might find it a little easier to get new credit accounts (although obviously depends on lots of other factors not just this).

If its not settled then once it clears it will certainly improve your chance of new credit.

Its not possible to quantify 'how much' it will improve by as different lenders would be influenced by an old default to differing degrees.
If you are talking about a numbered score and want to know what it will increase by then I've no idea - the scores are pretty much meaningless anyway.

bunny1982

Thankyou for replying

The default is not settled, so my credit should improve :j
as for the amount i guess its not an issue as long as its improvement.