How did a CCJ dropping off affect your credit file?

Stabilo_Boss

Hi

I am new to the forum but find it very helpful so far. I have a CCJ which is dated end of January 2009 and so this will disappear from my file at the end of January 2015. In the summer of 2014 I will get married and I hope to buy a house. I was just wondering what experiences people had of how much your credit rating changed once a CCJ had disappeared? I also know that you should take the CRA ratings with a pinch of salt but does anyone have any experience of applying for a loan/credit card/mortgage shortly before and them after a CCJ disappears? Does it have a significant and big impact?

If it does then I might wait until February 2015 to apply for a mortgage. If not then I might as well buy now before the prices increase

Thank you in advance for any feedback

MrSilk

I'm eager to know as well as my CCJ is due to drop off in Aug 2014, with 5 years of no late payments/defaults

National_Debtline

Hello there.

It is likely that the removal of the CCJ from your file will have a significant impact on your credit score. Is it satisfied at the moment? That can also help (as far as your current score is concerned). You are absolutely right in the sense that a lender will consider many different parameters when they make their lending decision - and your credit worthiness is just one area they'll be looking at. If you've not seen it, we have a great fact sheet on credit referencing here:

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=05_credit_reference_agencies

Best wishes,

David @ NDL.

MrSilk

National_Debtline wrote: »

Hello there.

It is likely that the removal of the CCJ from your file will have a significant impact on your credit score. Is it satisfied at the moment? That can also help (as far as your current score is concerned). You are absolutely right in the sense that a lender will consider many different parameters when they make their lending decision - and your credit worthiness is just one area they'll be looking at. if you've not seen it, we have a great fact sheet on credit referencing here:

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=05_credit_reference_agencies

Best wishes,

David @ NDL.

Thank you David! That's a lot of help! :T

Stabilo_Boss

National_Debtline wrote: »

Hello there.

It is likely that the removal of the CCJ from your file will have a significant impact on your credit score. Is it satisfied at the moment? That can also help (as far as your current score is concerned). You are absolutely right in the sense that a lender will consider many different parameters when they make their lending decision - and your credit worthiness is just one area they'll be looking at. if you've not seen it, we have a great fact sheet on credit referencing here:


Best wishes,

David @ NDL.

Thanks David. Thats a great help. Yes it has been satisfied for a couple of years but with automated systems I'm not sure that counts for a great deal. I'm hoping that when it disappears totally it will make a difference to the automated processes (such as applying for an overdraft or car loan etc) not just the larger finances such as a mortgage.

I'm fed up with 'Computer Says No!'

Stabilo_Boss

Hi. DId anybody else have any experiences? Thanks