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Suggestions to improve my credit file
I have two defaults on it one for £448 default registered 03/05/2014
One for £204 default registered 06/09/11
I'm gunna clear them ASAP as just got promotion at work
Wanna clear them as I wanna get a mortgage in the next couple of years
If I pay them defaults how long will they stay on my account and how will them effect my score for I also have accounts with Aqua card capital one very natwest and t mobile but all of these are up to date
Comments
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They will stay on for 6 years after the default - settled is better than unpaid for a human to look at but default will automatically result in rejection from some lenders
Your "score" is totally meaningless, nobody but you see it - lenders categorically 100% do not see that number, only the data on it. Don't pay for any service that sells you a credit score as that is just money down the drain.
You would do best going to a broker specialising in those with poor credit history to get a mortgage, time will heal the damage to your credit record but you may not get prime mortgages in the next couple of yearsSam 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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Can I ask for them to be taken off if settled?
By next couple of years I mean approx 4 years as need to save properly0 -
Can I ask for them to be taken off if settled?
By next couple of years I mean approx 4 years as need to save properly
You can ask but the answer will be no as they are obliged to show a fair reflection of your behaviour - that is the point of the credit file so other lenders can make a decision based on what your history is like. If you default and don't pay for 2 years then it would be a poor guide for other lenders if the lender who was defaulted would disguise that.
£204 one will disappear completely in 2017 / £448 in 2020
Once over 3-4 years with just the one settled default showing with an otherwise good history of paying on time you should be alrightSam 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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