When do defaults drop off your credit file?

MusicalLawyer

When you default on an open account, when does it drop off your credit file?

Is it 6 years from the date of the default, or 6 years from the date the account is closed??

As I have defaults on my credit file, but the accounts are open and I am paying the debts off, so was just wondering when i can expect them to disappear!

Thanks

boogiemaster

Six years from the date of the default paid or not

A default is put on when you default on your agreement but if its open and not defaulted then it will fall off six years from when its paid of.

missladyannie

I was wondering a similar question, I have a closed account which is showing as red/default on equifax, the last date in the date boxes was March 2006, however, I noticed on the right hand side in the 'last updated' box a date of 21 June 2011 was showing - does this mean I will now have to wait 6 years from June 2011? I'll be gutted if so! Thanks in advance and sorry for hijacking x

fermi

No. The "last updated" date does not effect when the default/record comes off your files.

It's still 6 years from any initial recording of a default.

missladyannie

fermi wrote: »

No. The "last updated" date does not effect when the default/record comes off your files.

It's still 6 years from any initial recording of a default.

Brilliant thanks for your help! technically it should be showing as settled as it was included in my IVA but for some reason Egg and Barclaycard are both not showing as settled. As they only have until March 12 I decided not to investigate

Gordon_Hose

It can take a couple of weeks after the date it is supposed to drop off for the CRA's to update their records. So it may not drop off on exactly the date you would expect it to.

MusicalLawyer

I defaulted on an account in 2009, but I am in an agreement to pay it off and I haven't missed a payment. So it'll come off my file in 2015?

camuk81

Yep that horrible default should vanish, however as long as you keep inline with creditors and don't get silly you may start to see your file get slowly better

MusicalLawyer

That's the plan! And no more evil credit cards or payday loans! I earn good money now so don't need them - everything is from when I was on benefits in a low point.

I'm now going to get copies of my credit for from each agency & work out when my file can start to build up again!

Thanks!

camuk81

Make sure all the dates are same across all of them and just be aware not all accounts show up on all of them!

blacksta

6 years + 2 weeks from the date it was recorded