CCJ and Default questions

insanekarma

Hi,

I had a CCJ registered against me in 01/06/2005 but paid it off in august 2007. Will this automatically get removed from my report this June (ie 6 years) or from the date i satisfied it?

Also how much is it likely to increase my credit score?

Finally, I have 3 defaults all around 5 years old now (all will be 6 years by 2012), do they also automatically get removed after 6 years or do i need to chase up the credit reference agencies to remove them?

Do defaults have less impact on your credit score as they come near to the end?

Again, how much is my score likely to increase as each one come of?

Thanks
insanekarma

Gordon_Hose

Credit score from the CRA's is worthless, so don't pay any attention to those. Each lender scores your application against their own criteria.

Defaults, in fact all accounts good or bad, drop off your file after 6 years of inactivity. If the account is still active and reporting it'll remain there until such time it becomes dormant/closed, then after 6 years it falls off. You don't need to chase anyone up to get these accounts removed, the CRA's will update their records automatically.

Defaults generally have an impact from start to finish, if you have a 5.5 year old default a lender will treat it as a default, regardless of age.

insanekarma

Ok now i'm panicking a bit.

I thought after 6 years of receiving this default it would come of my report?

I paid this one below a few years ago, yet it's showing activity, doers this mean i have have another 6 years of it being on my report instead of next March?

Started: 12/08/2004
Default Balance: £106
Current Balance: Satisfied
Defaulted On: 12/03/2006
File Updated for the Period to: 13/03/2011

Gordon_Hose

You defaulted in March 2006, so 6 years from the date of default is March 2012.

If you default, it goes from the date the default was issued, not the start date of the account... that's the punishment for defaulting.

insanekarma

Ok thanks, but why is this account still being updated?

Last line says: File Updated for the Period to: 13/03/2011

Is this anything to worry about?

Gordon_Hose

It will be updated until it drops off next March. Nothing to worry about.

Tixy

Nothing to worry about, the default and the whole account will automatically be removed 6years after the default date.

Do you still owe a balance on this default? are you paying it off? if so that could be why it is showing as still beig updated regularly.

insanekarma

No thankfully, it was paid of a few years ago and is showing as satisfied, at least it will just come off next year now.

I did have another question but i think it's probably better off in one of the other forums.

Thanks everyone for your help