When a default is removed..

supermassive

When a default is removed, if it's been applied in error, does your credit rating bounce back up to where it should be had the error never come to exist?

I ask this because I've had 2 registered against me in error... one I've had successfully removed, and one that's due to come off in the next few weeks and it's really going to !!!!!! my mortgage options through no fault of my own.

National_Debtline

Hi supermassive


The short answer is yes - your credit file should be in the position it would have been in without the erroneous default in the first place. As for credit "scores", I can't really comment as those are worked out by the credit agencies using their own calculations.


Where problems can arise is if you've sought credit while the default was showing and have been rejected as a result - even if the default were then removed, the credit searches would still show.


The key is, wherever possible, to ensure that your file is 100% accurate before making any applications that will result in a search "footprint" appearing on there.


You may want to read up on how to add a Notice of Correction to your file:


https://www.nationaldebtline.org/EW/factsheets/Pages/05%20EW%20Credit%20reference%20agencies%20and%20credit%20reports/Page-04.aspx


All the best


Dennis
@natdebtline

supermassive

Thank you! I applied for credit a long time ago that was rejected and that's how I opened this can of worms (6 mistakes on my credit file in total. Would've been better for them to delete it and start again!)

But I've made no applications for credit since then, other than my overdraft which was approved What a relief!

rizla_king

Yes once they are off they are off. Lenders wont see them anymore so wont tale them into account.