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Settling debts and credit file
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P23
Posts: 8 Forumite
I'm looking to improve my credit score am focusing on paying off my debts this year. I have a default on my file from 2 years ago which I pay monthly and this will be paid off in 1 years time. My question is, would it look better on my file to pay this off earlier so it is settled sooner or to focus on paying off a credit card which I have no adverse history on?
I'm not paying interest on the defaulted account so from a monetary point of view i think the card would be best to pay off sooner but from a credit file point of view does it make a difference when a defaulted account is settled?
Thanks in advance for any advice.
I'm not paying interest on the defaulted account so from a monetary point of view i think the card would be best to pay off sooner but from a credit file point of view does it make a difference when a defaulted account is settled?
Thanks in advance for any advice.
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Comments
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If you are not planning to get apply for any credit until the debt is settled then its not likely to make much difference whether it took you 2.5 years or 3 years to settle the default.A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0
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Thank you. When I do come to apply for credit do creditors look at the settled date and take that into consideration or do they just look to see if it is settled?0
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