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Credit Ratings
alboy850
Posts: 57 Forumite
I was made redundant a month ago as the company I worked for went into liquidation. I am waiting for my state redundancy to come through, paperwork all complete.
With this money my aim is to pay my debts off, I am in a DMP with Stepchange, to my annoyance I did pay one of my creditors off the day before I was laid off.
Can anyone give me an indication of how long my credit rating will get back to some sort of normality, not that I want anymore credit (lesson learnt on that one).
I have managed to get a new job so things are looking ok.
With this money my aim is to pay my debts off, I am in a DMP with Stepchange, to my annoyance I did pay one of my creditors off the day before I was laid off.
Can anyone give me an indication of how long my credit rating will get back to some sort of normality, not that I want anymore credit (lesson learnt on that one).
I have managed to get a new job so things are looking ok.
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Comments
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Hi, its the old, old, story im afraid, a default will stay on your credit file for 6 years from the date the default was registered, after which it will fall off !!I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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Hello there,
As sourcrates mentions, most marks stay on your file for 6 years. We've a useful fact sheet here: http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=05_credit_reference_agencies
Best wishes,
David @ NDLWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0
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