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after paying off a default
umist
Posts: 29 Forumite
in Credit cards
I have recently paid off my defaulted credit card. I understand that my credit score would have taken a hit because of this. After I have paid it off how long does it take for it to get updated on my credit file that I have it off and does my score increase at all?
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Comments
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I have recently paid off my defaulted credit card. I understand that my credit score would have taken a hit because of this. After I have paid it off how long does it take for it to get updated on my credit file that I have it off and does my score increase at all?
It's stays your file for 6 years paid or unpaid so it will just say settled.
To a lender a default is a default settled or not settled so not 100% sure how a lender would view a settled default more favourable then a non settled one.
But settled is defiantly better then non settled I would say.0 -
BugsyBrowne wrote: »It's stays your file for 6 years paid or unpaid so it will just say settled.
To a lender a default is a default settled or not settled so not 100% sure how a lender would view a settled default more favourable then a non settled one.
But settled is defiantly better then non settled I would say.
Well i am going to soon get myself an internet service provider and a mobile contract. Would I face any difficulties at all with a default payment?0 -
Settled defaults are viewed by NatWest as been better, as it shows you have rectified your waysDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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Well i am going to soon get myself an internet service provider and a mobile contract. Would I face any difficulties at all with a default payment?
no I know of people that have got them with these, as long as no more than 2Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0 -
The worst case is that you might have to pay a deposit on your mobile phone contract and my Virgin Media broadband account never shows up on either Equifax or Experian, so I dont know if they (Virgin) credit check you.
Or maybe it's because I have never missed a payment with Virgin that nothing shows up - no news is good news or something!
Good luck.0
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