Default Removal

Funkygibbon

Equifax have now removed the default!!

geeuk

sorry if i am diggin an old thread here but i just wanted to know after a default getting deleted of your report how long would it take for this to reflect your credit score number?

izools

The effect on your credit worthiness is immediate from the day the default drops off.

The number Experian and Equifax sell however is not a proper credit score as it doesn't take into account the same info creditors use when calculating your score and uses a different basis for working out the number. Their 'Score' is just a gimmick.

TastyTeeth

izools wrote: »

The effect on your credit worthiness is immediate from the day the default drops off.

So once the default is gone (satisfied or otherwise) a credit search after that date would not pick up on the default - is that correct?

Say if someone has a 18-24 months' good payment history and no defaults left to show, their credit rating improvement should be vastly improved???

TAG

TastyTeeth wrote: »

So once the default is gone (satisfied or otherwise) a credit search after that date would not pick up on the default - is that correct?

Say if someone has a 18-24 months' good payment history and no defaults left to show, their credit rating improvement should be vastly improved???

Yes!!

izools

Presuming they haven't applied for every credit scored account under the sun over the last year and aren't maxing out the accounts they currently have, of course.