5 1/2 year old default

nic051980

I have a default that was registered in November 2009, it was a fairly large one at 12k (Car finance). I settled it in 2011. I'm hoping to move house later in the year and thought that defaults are no longer on your credit file 6 years after the date they were first registered but have been given advice by a broker that it will still be visible and taken into account beyond November 2015 as the account will show on my credit file until 6 years after the last activity on the account - i.e. when I settled it in 2011. Does anyone know if this is the case? Do I have any chance at all with mainstream lenders as ideally I was hoping to go for a new build and access help to buy if poss. Thanks in advance

fermi

Your broker is incorrect.

The default, account, and all history will be removed 6 years from the initial recorded default date. Literally all trace will be removed, and anyone checking your credit report will not see any evidence the default or account ever existed.

However, should you be asked have you defaulted on a debt, or one in the last x (more than 6) years, then of course you would have to say so. Plus the lender you defaulted with may still have the fact of the default on their files, even if not on the credit file.