Defaults on Credit File

andyp774

Morning Everyone,

This is my first post on Money Saving Expert so please be gentle with me.

I have a default on my credit file with equifax/experian dated 31.5.06. I am waiting for this to drop off so I can apply for a mortgage the following week. I wanted a little clarification from your experts out there as to whether this will drop off automatically on 31.5.12 or whether I have to do anything.


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National_Debtline

Hi Andy

Welcome to the forum.

All being normal the default should drop off of its own accord on the 31st; you don't need to specifically do anything.

Do ensure that you review your credit file immediately prior to making your mortgage application, just to ensure that nothing incorrect or inaccurate shows on there. It sounds as if you are already using Credit Expert-type subscriptions which will flag up anything important.

It is impossible to state beyond any doubt whether a given application will be successful, regardless of credit score or the lender involved. Credit scores are relative rather than absolute; it all comes down to whether you pass that individual lender's threshold - the lender will not publicly divulge this threshold. Other factors beyond your credit rating are also taken into account e.g. loan to value ratio, your age, employment security etc.

We wish you all the best with your mortgage application.

Regards

NDL

fermi

andyp774 wrote: »

I wanted a little clarification from your experts out there as to whether this will drop off automatically on 31.5.12 or whether I have to do anything.

On Experian/CreditExpert they drop off at midnight on the day they should.

Equifax have/had an annoying habit of allowing them to linger for a week or 2 beyond the exact 6 years point. They are eventually removed, (assuming no cock up by them).

If the Equifax one isn't removed on time then it may be worth complaining to their customer services. However, by the time you go through that rigmarole and get them to get their backsides in gear, it's likely the default will come off shortly anyway.