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Will £2613 default dropping off improve score?
StudentOfBusiness
Posts: 193 Forumite
Got a default that is going to drop off my credit file in July from overdraft charges on an old Account. The amount was £2.613.
Will this dropping off my report make much difference do you think?
The are some other defaults, again really old.
I have started to be approved for more credit again now.
Score is currently 582 according to Experian.
Will this dropping off my report make much difference do you think?
The are some other defaults, again really old.
I have started to be approved for more credit again now.
Score is currently 582 according to Experian.
0
Comments
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Hi,
Credit score is a pure myth, something invented by the CRA`s so they can sell you credit improvement products.
Every lender has a different credit scoring system, some will accept you with old defaults, some wont, as a general rule of thumb, the older a default is, the less impact it has on you.
Like wise if you have a few old defaults, you will be turned down for credit more, than if you only had one old default.
In the end, only time will make you a more attractive prospect.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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