Notice of Correction on Default is it worth it ?

Samwaydors · 16 October 2013 at 4:29PM

I have just gone to put a notice of correction on my Experian Credit File and have been informed by them that I quote "If a Notice of Correction is added, applications for credit will need to be manually looked at, so your statement can be read. This means you won't get credit instantly on-line, by telephone or in a store"

I am going to apply for a new mortgage in the Spring, and I know with this default I will probably get refused straight away as my credit score is not very good, but not sure whether this notice of correction will help the situation or just makes matters worse. Thank you

rizla_king · 16 October 2013 at 4:34PM

With a mortgage application they will be doing a lot of manual checks anyway, and won't be using any 'instant' online decision method like the one described So if you want the NOC to be on there explaining the situation then put it on so it can be read.

matttye · 17 October 2013 at 7:48AM

How old is the default? The general consensus seems to be that a lot of providers will consider people with defaults over 3 years old.

simeyb · 17 October 2013 at 8:55AM

Is the NOC that you are going to put on your file for a genuine reason? The reason that I ask is that have you attempted to have the Default removed by the original lender that put it there? If it's wrong to the extent that you feel you have a genuine greivance and a genuine NOC, then have a go at the lender and get it removed if you can.