Default on credit history question

mildredalien

Hey folks,

A few years ago I stupidly defaulted on a credit card due to not keeping on top of things properly, not having direct debit payment, and not updating my address records with them. If only I'd found MSE earlier! Ever since I realised I paid them a big chunk every month and cleared the debt last year. However I just checked my Noddle credit report, and it is showing a big red D for every month since the initial default date, until I paid it off.

So I suppose my question is - will the default drop off my credit record after 6 years since the original default date, or 6 years after the account was settled?? I always thought it was the former but I may have been wrong! Is this a Noddle thing or do all credit files show the same?

bottleofred

Hi mildred,

Defaults drop off 6 years from the date they are applied to your credit file, whether settled or not, but a settled default is better than an unsettled one.

mildredalien

Thanks bottleofred - I'll assume that it's just a Noddle quirk to add 'default' to every month then! It's all settled now, just have to wait another 3 years for it to drop off!