Credit Score Query

Ariadne29

Any Advice please -

In 2010 I hit a rocky point and ended up with C/C defaults and an RBS loan default, ( Also had RBS overdraft and C/C ). Long story short RBS were only creditor to put pressure on me and this resulted in re-financing the RBS loan, this was two years ago.

My question is when viewing my credit report it shows the original RBS loan as closed, last updated as a default in 2010. My new loan also shows as okay - so is the original loan having a negative effect on my credit score and if so is there anything I can do about it, or do I have to clear the current RBS loan before it will be reflected on my credit score.

Thanks

[Deleted User]

Ignore the score. It's nothing to do with anything.

YorkshireBoy

The default will fall off your credit file in 2016, on the 6th anniversary of it's placement. Other than pay your debts on time, there's nothing you can do to improve things in the interim period.

Ariadne29

Thanks for this, Another question, I had 7 de- faulted accounts. I have paid off 4, one is the RBS loan and I have two to clear ( totalling £1600 ), I recently spoke to a mortgage advisor who said once the defaults had been paid off I should wait 6 months, then try applying ( for a mortgage ) - is this realistic?

Has anyone any experience of having done this??

Thanks Again.

Thrugelmir

Will you save a deposit within 6 months of settling your debts?

Ariadne29

Yes, well that is the plan anyway. Granted it won't be huge, 10% - and hoping to find something under £100k.