How long to wait after CCJ drops off file?

modder25

Hi all,


I have a CCJ that drops off my file next month which will leave me with everything else positive on my Credit File:


Phone - Satisfactory (opened 2003)
Current Account - Satisfactory (opened September 2012)
Credit Card - Satisfactory (£20 balance, £3000 limit open 2006)
Gas - Satisfactory
Current Account - Settled (October 2013)
Credit Card - Settled (September 2010)


I have a company car at the moment but am due for a promotion that doesn't qualify me to have a car (sounds weird I know) so this means that I will have to buy my own.


My question is how long should I leave it once the CCJ drops off to buy a car? I will need to finance it with part cash deposit but the finance will be for around £10-£15k.


My salary is just over £40k approx and my only outgoings are rent, utility bills, phone and credit card. I have been with my employer for 6 years. I am on the electoral roll at my address where I have been for just over a year.


I haven't had any searches on my file since I opened my current account in 2012. I spend approx £20-£150 on my credit card each month and pay it off. I have not missed any payments on anything for many years now.


I am still a little scared of applying for credit even once the CCJ has gone which is why I ask how long I should wait approximately.


Hope someone can give me some helpful information.


Many Thanks

modder25

Any info will be appreciated

Nasqueron

CRA usually update the day it expired but think Equifax take 1 month. Give it a full calender month i.e. to end of December before looking for finace

modder25

Nasqueron wrote: »

CRA usually update the day it expired but think Equifax take 1 month. Give it a full calender month i.e. to end of December before looking for finace

Hi Nasqueron,

Thanks for your reply.

Do you know why Equifax take so long after?

Thanks

Nasqueron

modder25 wrote: »

Hi Nasqueron,

Thanks for your reply.

Do you know why Equifax take so long after?

Thanks

Probably a bunch of muppets

I'm no financial expert, just recounting what I have seen on these forums, basically defaults, ccjs etc disappear from your CRA report the day after the 6 years is up but one of them just takes ages to update lol

Thrugelmir

modder25 wrote: »

Current Account - Settled (October 2013)

Settled? Suggests that you had issues.

modder25

Thrugelmir wrote: »

Settled? Suggests that you had issues.

Hi Thrugelmir,


I had a £400 overdraft with them and was still in it when I changed banks and settled it and closed the acount a few months later.


Account Type: Current Account Started: 25/09/2003 Overdraft Balance: SettledOverdraft Limit: £400 Settlement Date: 15/10/2013

On my experience it says the above, does this mean that I was struggling? I stopped using this as my main bank for wages etc so was just paying the overdraft off bit by bit and not using the account.


Thanks for your reply.

newuser78

Before you apply for car finance, get statutory reports from 3 CRAs and double check that CCJ has indeed dropped off.

boo_star

Nasqueron wrote: »

Probably a bunch of muppets

I'm no financial expert, just recounting what I have seen on these forums, basically defaults, ccjs etc disappear from your CRA report the day after the 6 years is up but one of them just takes ages to update lol

I think that the Experian rep has said it's up to 30 days from its expiry before they update their files.

You'd think after it was computerised it'd be instant but I guess Experian use tablets of stone to keep records.

modder25

newuser78 wrote: »

Before you apply for car finance, get statutory reports from 3 CRAs and double check that CCJ has indeed dropped off.

Hi Newuser78,


Thank you for the advise.


I have an Experian account and a checkmyfile account... should I still get reports from all 3 as well as this?

thebritishbloke

modder25 wrote: »

Hi Newuser78,


Thank you for the advise.


I have an Experian account and a checkmyfile account... should I still get reports from all 3 as well as this?

Close both of those accounts and just get your £2 statutory reports whenever you need them (Shouldn't need them more than once or twice a year).

Also open up a free Noddle account for your CallCredit report.