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Defaulted three years ago and just paid off. When is the new start?
lee1985
Posts: 204 Forumite
I am currently paying off an account I defaulted from 3 years ago.
The last payment is this month.
My credit file has been updated every month "in default"
Does this mean that lenders will see this default as three years old, or, due to the updates every month, my credit file will only be OK from this month I.e. It will be as if I defaulted now.
It would be nice if I could apply for a credit card saying I defaulted three months ago and have three years of perfect credit history but this won't be the case will it? I suspect I will have to start again from now.
The last payment is this month.
My credit file has been updated every month "in default"
Does this mean that lenders will see this default as three years old, or, due to the updates every month, my credit file will only be OK from this month I.e. It will be as if I defaulted now.
It would be nice if I could apply for a credit card saying I defaulted three months ago and have three years of perfect credit history but this won't be the case will it? I suspect I will have to start again from now.
I have worked at HSBC Bank in various departments both customer facing and process-related for six years. However, any advice given is my own.
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I am currently paying off an account I defaulted from 3 years ago.
The last payment is this month.
My credit file has been updated every month "in default"
Does this mean that lenders will see this default as three years old, or, due to the updates every month, my credit file will only be OK from this month I.e. It will be as if I defaulted now.
It would be nice if I could apply for a credit card saying I defaulted three months ago and have three years of perfect credit history but this won't be the case will it? I suspect I will have to start again from now.
A default will remain on your credit file 6 years from the original default date. So if it was defaulted 3 years ago, it will vanish in another 3.Christmas 2020 £109
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Even though it has been reported as "D - Default" on the CRAs throughout the three years up until now?
What if a default does not get marked as satisfied or settled for any reason. Surely it would not still disappear after 6 years?I have worked at HSBC Bank in various departments both customer facing and process-related for six years. However, any advice given is my own.0 -
Even though it has been reported as "D - Default" on the CRAs throughout the three years up until now?
What if a default does not get marked as satisfied or settled for any reason. Surely it would not still disappear after 6 years?
Everything that is recorded on your credit file is visible for a period of six years from date of entry, after six years it is erased, no matter what.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 -
Even though it has been reported as "D - Default" on the CRAs throughout the three years up until now?
What if a default does not get marked as satisfied or settled for any reason. Surely it would not still disappear after 6 years?
Yes. The entire account will drop off six years from the default or settlement date, whichever comes first.What will your verse be?
R.I.P Robin Williams.0
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