Default Question

Dannydebt

Hi, I have 4 defaults from 2006, One dropped off last Friday and One will drop of this Friday. The others will drop off in July and October.

Will (After Friday) having only 2 defaults make much difference to my chances to get a current account, or will I have to wait until after October.

Besides these my credit account is perfect, no lates and a Cap1 Credit card that I use and pay in full, along with a mobile phone contract.

rising_from_the_ashes

Personally I'd hang off until they're all off (honestly, 4 months is nothing compared to the length of time that's already passed!) - searches stay on your file for 12 months, so if you did happen to fail it, it would then damage your chances when you tried to reapply when the others fall off (hope that makes sense, I'm not always great at explaining things!).

Have you not got a current account just now? If not & you need one before October, try a basic account as these don't need a credit check - well done on getting through the worst.... not long till it's all ancient history!

Dannydebt

rising_from_the_ashes wrote: »

Personally I'd hang off until they're all off (honestly, 4 months is nothing compared to the length of time that's already passed!) - searches stay on your file for 12 months, so if you did happen to fail it, it would then damage your chances when you tried to reapply when the others fall off (hope that makes sense, I'm not always great at explaining things!).

Have you not got a current account just now? If not & you need one before October, try a basic account as these don't need a credit check - well done on getting through the worst.... not long till it's all ancient history!

Thanks for that, and yes it does make sense. I do have a current account which does report to the Credit Reference agencys but is basic.

But will do as you say and hang off until October.

Tixy

I'd probaby wait as well in your situation.

Just one thing to be aware of (in October or whenever) whilst a default should fall off your credit reports exactly 6years from the date of the default - equifax in particular tend to have it on for a few days longer. To be on the safe side either wait a couple of weeks extra from the 6year anniversary - or double check its gone from your file first before you apply.