Credit Expert - when will cleared debt show?

RobbieD1506

Hi everyone,

I have had a few defaulted accounts since 2008, so they are all due to drop off later this year. I also had one account with barclaycard that hadn't defaulted but had largely exceeded the credit limit a few years ago. I took the plunge 3 weeks ago & paid the £1600 off but when I log on to credit expert , it's still showing. I also haven't had any confirmation from barclaycard that it's paid (even though it's def come out of my account). Does it take a while to show up or should I get back in touch with barclaycard to ensure it's cleared?

Also, I want to finance a new car this year. Once I'm debt/default free this year, will that be possible straightaway or will I need to wait for a bit?

Many thanks in advance.

DCFC79

Yes you could give BC a call next week to check its all ok, as for it to change on your report it could be down to how quick BC report it to the CRA's, again you could ask BC how quick it will happen.

thebritishbloke

In regards to car finance, a lot of major dealers won't be able to provide you finance directly due to defaults. You'll end up getting stuck with a stupid interest rate that won't be worth it.

By all means have a go at applying in a years time, but I wouldn't get your hopes too high and I'd have a backup plan.