Defaults

mattlfc79

Hi all,

Are defaults seen as bad as CCJ's to possible lenders? I have one default left on my file due to drop off in March so looking forward to that!

My mind says defualts shouldnt be as punishing as CCJ's but then I would say that after getting myself in a financial pickle a few yrs back.

Once it drops off and as long as my file is in good health, credit cards and loans alll up to date will this mean I can start applying for mortgages or do I then need to rebuild?

I have several loans and credit cards which I am slowly repaying and closing off as they get paid off so I dont appear to be in 'too much' credit. I should probably leave one credit card open though to keep the green zeros going.

I have no other adverse on my file other than the 1 default for an Un-Welcome loan for approx £4k

Thanks

Thrugelmir

A CCJ is the last thing that you want on your credit file. As in essence this is saying that the creditor has exhausted all avenues of recovering the debt. So yes worse than defaults. Having said that, some lenders may decline credit on the basis of late payments in recent credit history.