More info on defaults

happybunny86

I have 7 defaults on my credit score
They drop off x1 2015, x1 2016, x2 2017 x1 2018 x2 2019

In all honesty I'm only just beginning to understand my credit score and what a mess I've got myself in. I've nearly paid off all my debts and the next step is to save for a mortgage.

Some of my defaults were at very low levels of debt I.e £90. Is a default just a default or is the amount defaulted at taken into consideration?

I am likely to be able to ever get a mortgage until all these have dropped off?

Will probs do a further post when I am debt free to ask how I go about rebuilding my credit rating if this is possible when I still have so many defaults.

Sabbathdei

People have defaulted on much less than £90 ! A default is, as you say, a default. You are going to have to wait for a few of those to drop off before thinking about a mortgage...concentrate on getting your debts sorted.

happy_bunny_2

It seems to be possible to get a mortgage with 2 or 3 settled defaults a few years old via a broker.

Best post more details on the mortgage board as I'm sure they can offer advice on how long you are best waiting.

HB

happybunny86

Thanks fellow happy bunny! Will post on the mortgage board now

longtermplanner

If your next step is to save for a deposit, then there isn't much point in fretting about the defaults - by the time you have saved a decent amount and some of them will have dropped off and the rest will be very old.

Also there is no point in asking about the likelihood of getting a mortgage now, if you won't have the deposit for 2 or 3 years as the mortgage conditions then may well have changed.

better to put your energy into finding ways to save up the deposit faster!