6 years?

ValHaller

You-kip wrote: »

How would you feel if a family had nothing and the man of the house go and Rob a cashier to feed his family but be told later in life he can't have this Job or that Job because of his previous conviction.

A bit different.

To choose to go out and rob - subjecting another person to fear of violence is very different to just staying where you are and not paying your bills because you do not have the means.

Thankfully, a degree of enlightenment means that being in debt and unable to pay is no longer regarded as a crime.

You-kip

Defaulters continue to spend on their cards although they know they can't afford it fact.
Defaulters also get a better deals then non-defaulters due to most debts will end up interest free.
Most defaulters are normally of those who will check their credit reports constantly looking at every chance they may left to gain more credit.

Most defaulters will apply for every card possible and will know what date every default gets wiped as this will be their day to go on a application frenzy.

matttye

You-kip wrote: »

Defaulters continue to spend on their cards although they know they can't afford it fact.
Defaulters also get a better deals then non-defaulters due to most debts will end up interest free.
Most defaulters are normally of those who will check their credit reports constantly looking at every chance they may left to gain more credit.

Most defaulters will apply for every card possible and will know what date every default gets wiped as this will be their day to go on a application frenzy.

Source? (your rectum, I suspect.)

You-kip

matttye wrote: »

Source? (your rectum, I suspect.)

Thanks for clarifying that I've hit a nerve again Mattye.

We know Mattye people can change after they get Defaults but it also frustrate people who don't overspend yet get credit card hikes whilst most defaults are interest free.

How many people do you think got defaults with no fault of their own? Or how many people do you think overspent & overspent & overspent to the stage where repayments were out of control?

I'm not having a pop at people who default I'm merely pointing out the fact that defaulting is a easy way out and getting credit after 2 or 3 years should be Banned

matttye

You-kip wrote: »

Thanks for clarifying that I've hit a nerve again Mattye.

We know Mattye people can change after they get Defaults but it also frustrate people who don't overspend yet get credit card hikes whilst most defaults are interest free.

How many people do you think got defaults with no fault of their own? Or how many people do you think overspent & overspent & overspent to the stage where repayments were out of control?

I'm not having a pop at people who default I'm merely pointing out the fact that defaulting is a easy way out and getting credit after 2 or 3 years should be Banned

You haven't hit a nerve, it's fine

You just seem to be trying to tar everyone with the same brush when each case is different. Everyone has their own issues to deal with; people default for different reasons.

Clearly a lot of defaults will come about through overspending, but there are other reasons such as loss of employment etc.

Defaulting is not an 'easy way out' for everyone sometimes there's no other option, and defaulting doesn't always stop interest either.

DevCoder

A year wouldnt be long enough, to say that it would appear less risk to a lender if there is no other defaults/late payments for a year wouldnt work in practise.

you could default and then take out no further credit for 12 months, does that make you any less risk?

Defaults do tend to diminish risk scoring with time but they are always red markers on any lenders scoring.