Future Credit/CreditScore

Vanitore

Hi Guys


I need some advice basically I have defaulted on a car agreement due to losing my job nearly 2 years ago now and the remaining balance has now been settled. I am unable to get any loan or finance for a motor vehicle due to this default just coming back with rejections..Is it just a case of waiting 6 years until this default has dropped off as I really need a car/motorbike to get to work.? I think I have basically blown it getting any future credit but I am now in a stable job.


any advice would be appreciated.

forgotmyname

After 6 years it should be gone. But worth getting your £2 report and check.

Dont bother with the credit scores they want to sell you. My free credit scoring service is more accurate and totally free.

Your score today is a budget range chocolate biscuit. In 3 months time you can add two digestive biscuits also from a budget range.

There you go and its as useful as the ones they sell you.

fermi

See the guide here: http://www.moneysavingexpert.com/loans/credit-rating-credit-score#improve

The default will be a major negative until it drops off, but if you can build a more recent good history, even on minor things, then that can count for a lot, especially as the default becomes 'history'.