What happens when default reaches the 6 year point?

timetogrowup89

Does it just come off your credit file and your credit file is instantly improved or is there still more work to do..?

I have a few defaults the final one will come off in just under 3 years.. I plan to clear all debt and save for a mortgage in this time.

Just wondering what happens when the default comes off, does that mean you become eligible for credit again?

I have taken out a credit card, which I buy fuel on every month and clear in full, so hopefully this will show I can make regular payments and I have started to clear my defaults which also shows monthly on my credit report..

fermi

When it comes off, the default will no longer be an adverse item on your file.

Any creditor then checking your file will judge it on the information that remains. So it depends entirely on what is left, good or bad.

Sounds obvious, but not really possible to say more than that, other than a record of reasonable credit and repayment will be beneficial.

timetogrowup89

Ok thankyou..

I have other things that I have never defaulted on like virgin media, credit card etc, so hopefully once the defaults gone it will look much better