Credit File Information Please

rachb

Hi all,

I have lurked here a bit and found lots of useful information but hopefully someone can help me with the following!

I have quite a poor credit rating, a lot due to my wreckless behaviour with regards to credit in the past but quite a few debts on my file are due to an ex partner & I am quite reluctant to pay! These debts date back to 2008, most are defaults and there is also a CCJ that I wasnt even aware of so quite possible that it isn't paid.

I am currently working through and paying off the debts that are showing.

My question is: Am I right in thinking that a default, paid or not drops off my file in 6 years? If so what happens after that? Does it stop affecting my credit score? i.e. if i had one default and the rest of my credit was perfect - i would have an excellent credit rating when this default drops off? My thinking is, why should I pay my ex's errors if it will drop off anyway paid or unpaid?

Also, How long for a CCJ to disappear and does the above apply too?

Another thing I find strange on there is that my mortgage doesn't show on my credit file. I understand that there are various referencing agencies but I have tried Experian & Equifax but nothing...

Thanks in advance for any help.

Tixy

The accounts of your ex - presumably these are in your name? were they joint accounts or just in your name?

rachb wrote: »

My question is: Am I right in thinking that a default, paid or not drops off my file in 6 years? Yes If so what happens after that? Does it stop affecting my credit score? Yes i.e. if i had one default and the rest of my credit was perfect - i would have an excellent credit rating when this default drops off? In theory - although it depends on the definition of perfect compared to how the credit reference agencies rate you My thinking is, why should I pay my ex's errors if it will drop off anyway paid or unpaid?
When was there last a payment to these debts? your creditors might start court proceedings and this would result in more CCJs

Also, How long for a CCJ to disappear and does the above apply too? Goes from your credit file after 6years and ceases to affect your credit file.
But if its unpaid they could still go back to court to continue to chase for the debt/appoint bailiffs etc.

Another thing I find strange on there is that my mortgage doesn't show on my credit file. I understand that there are various referencing agencies but I have tried Experian & Equifax but nothing...
Sometimes happens, how long have you had the mortgage? you could also try callcredit (although I don't know of any mortgage companies who report to just callcredit)

Thanks in advance for any help.

bottleofred

Defaults fall off your credit file 6 years after they are applied to your credit file whether settled or not. CCJs can be the same, but the company who applied for the ccj can go back to court to update the information (this happens very rarely though), so it should also drop off your credit file 6 years after applied provided they don't go back to the county court. When they drop off you won't have a perfect credit file, just one clear from blemishes. I've no idea why your Mortgage hasn't shown up on your credit file.

rachb

Tixy wrote: »

The accounts of your ex - presumably these are in your name? were they joint accounts or just in your name?

Yes they are in my name, but were mt ex's debt. Silly of me I know!

So presumably I am better of paying these debts so I am not in fear of them reappearing as a CCJ in the future. Also, if the company sells on the debt after they have dropped off my credit file - am I right in thinking it could re-appear in this way too?

Oh well, the bright side is that if I work hard now to clear these things, I can get a mortgage when I'm 30! Yippee!

How about when there is a payment plan set up and its still in the process of being cleared and is 6 years old - will this drop off also?
Who decides what gets dropped off? the creditors or the credit referencing agencies automatically at yr 6? and when does the 6 years begin from?

Sorry for all the questions!

Tixy

Once there has been a default on the date then it should not appear again (apart from a CCJ), any new owner would only be allowed to register the same default date (so if its more than 6years ago they wouldn't register it at all. Well thats the theory although DCAs don't always play by the rules. It probably wouldn't hurt to ensure you keep a paper copy of your report just in case in the future anyone tries to update the defaul date to a more recent date.

The 6year drop off - happens regardless of whether fully paid at that point (if you pay before the 6years are up it shows as a settled default for the remainder of the 6years). Drops off automatically (well for some reason it can be 6years and a few days so it may not be entirely automatic but it doesn't need any intervention from your or the creditor, its done be the CRAs.)