How will 5 year old defaults affect credit rating?

Morash

Hello, I have 2 current defaults on my credit file (both of which are being appealed). Both are from April 2010, and both debts become SB in August of this year. I am in contact with both debtors with the 3 letter process and nervously awaiting any action they may take before August.

My question is regarding the affect these old defaults have. My noddle credit rating still say 1 out of 5 despite the fact I have no other problems and an up to date bank account and mobile phone contract, and on electoral role etc.

What would happen after the 6 years, will these defaults disappear off my credit file, or do I have to request to have them removed. Could these 5 year old defaults be the reason my credit rating is so low? Thanks Everyone.

sourcrates

Morash wrote: »

I am in contact with both debtors with the 3 letter process and nervously awaiting any action they may take before August.
Thanks Everyone.

Oh dear,
The 3 letter process again !!!

I know the website you got this idea from, unfortunatly in the real world, it does not work as you may think.

The idea hinges completly on weather a creditor/DCA holds the correct paperwork to enforce a debt, or not.

If the do, they provide the proof, and the debt is still payable, if they don't, then they can't enforce the debt, the other two letters you send are utter drivel, and have no meaning in law.

The success stories you read on there website are from people whose debts had no proof, ergo you think the process works, when it doesn't alway.

Credit ratings on CRA websites are totally meaningless, it's a number plucked from thin air, all creditors have there own scoring system, one may approve you, when another won't.

You are correct in thinking the defaults will disappear 6 years after they were registered, paid up or not.