Debt Free and Credit Worthy how ?

michael1983l

ok between the age of 18 to 21 my credit record went a 1000 rounds with ricky hatton and took a right old battering. I currently can not get any credit anywhere apart from companies I already use and thats only because they know I will pay but even they only offer small ammounts of credit. Providing I clear all of my debts and dont miss any more payments how long can i expect before companies start looking at me favourably in regards to credit worthyness again ?

moozie_2

It takes 6 years for defaults etc to expire on the credit record.

Is this what you mean?

michael1983l

moozie wrote:

It takes 6 years for defaults etc to expire on the credit record.

Is this what you mean?

is a default just a missed payment


if so then yes thanks

moozie_2

Missed paymants will take lass then 6 years, probably months, although I don't know how many. You'd have to maintain a good record of meeting payments though and your credit available in relation to your income has to be reasonable.

Alo, things like moving frequently/not being registered on electoral roll/multiple credit applications all have an adverse effect on your rating.

Hope this helps.

Donedoingdebt

Defaults will stay on your file for 6 years from date of issue. You would be notified of these when you are sent a "Default Notice". Details of settled or partially settled accounts (loans ccs etc) will remain on file for a further 6 years after date of settlement. CCJs will stay on file for 6 years. Your account activity will be shown for the previous 36 months (Number of late payments etc). Where an account has been settled, the last 36 months of activity will be shown.