How quickly will your credit score improve after removing CCj?

nikkikitch

Hi

I want to buy a house and have just bought my credit report to see where i stand.

I was really shocked to see how low my score is! Its in the very poor category, which surprised me as i have car finance which ive never missed a payment on, a mobile phone which again has been satisfactory for 3 years and other settled accounts.

what goes against me though is a ccj which was done in error, the company have confirmed they will approve a set aside application once its Paid off next month.

I also have an old gas bill which ive deafulted on as i wasnt even aware of it util i checked my report!

I have a credit card which ive defaulted on, but plan to pay the balance in full.

How long will it take my score to improve after removing the ccj, paying my credit card and removing some old settled accounts?

Thanks

bottleofred

Hi nikkikitch,

Defaults stay on credit files for a total of 6 years from the date they are applied, so it'll be 6 years from when the default went onto your file. I would also allow 3-6 months after this to get some credit in order for you to show evidence of repaying etc.

Good luck

Red

nikkikitch

Hi

Thanks for that.

so 3-6 months before your score starts to improve?

Tixy

Regarding your CCJ - have you got that in writing from the company involved? If you are applying to have it set aside it would be a judge that decided on your application not the creditor and it would usually only be set aside if the money wasn't originally owed. By saying you are going to pay it first it sounds like you did owe the money.

If you can get the CCJ removed your credit file will look a bit better. But with 2 defaults on file, and at least one of them unsettled it will still look pretty bad. You might still be able to get a mortgage but not at the best rates out there and will probably need a higher deposit than someone who didn't have defaults and need to go to an independant mortgage advisor to find someone willing to accept you.

juggler7

nikkikitch wrote: »

I have a credit card which ive defaulted on, but plan to pay the balance in full.

Thanks

don't bother..with or without payment makes no difference..basically there is no way round these blood sucking credit agencies, there is nothing you can do other than wait 6 years, as I am finding out

[Deleted User]

When did you default on the CC - 6 years from then will be when they will no longer be on your report.

AgentM_2

Excuse my ignorance, but what does default mean?

Tixy

juggler7 wrote: »

don't bother..with or without payment makes no difference..basically there is no way round these blood sucking credit agencies, there is nothing you can do other than wait 6 years, as I am finding out

Still worth paying it off though - the money is still owed. And if you don't pay it off you could be taken to court, have a CCJ awarded against you, which will ruin your credit file for even longer - and make getting a mortgage even more difficult.

Tixy

AgentM wrote: »

Excuse my ignorance, but what does default mean?

In this thread by default we are talking about when you have formally been issued with a default notice by your creditor who have subsequently marked a default notice on your credit file.

It usually happens once you are 3-6months or so behind with repayments (or paying less than you should). And shows other viewers of your credit file that you have defaulted in the original agreement.

AgentM_2

Thanks Tixy - that's really helpful

juggler7

Tixy wrote: »

Still worth paying it off though - the money is still owed. And if you don't pay it off you could be taken to court, have a CCJ awarded against you, which will ruin your credit file for even longer - and make getting a mortgage even more difficult.

yes but after you get one default, or CCJ etc, having two makes no difference...either way ur gonna wait 6 years, whether it is paid or not...so wait 5 years then pay