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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.
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Comments
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If similar default of similar age are still there then not going to change much Id have thought. Recent +ve stuff will be more important.Still rolling rolling rolling......
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The score is meaningless nonsense, only you see that score, no lender will ever judge your credit worthiness based on a fictional number.
Your credit worthiness will improve when a default vanishes (and it's likely the score will go up but as I said, that's meaningless) but any other defaults of a similar age will impact on how lenders view you.
Save yourself the cash and cancel the Experian subscription if you are paying for it.Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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