How soon does my credit rating change

Amysdad70

Hi

I currently have a DMP with Payplan and owe around £10k. I will have the money to pay it off in full at the end of August from a commission payment. This will clear all outstanding unsecured loans, credit cards, student loans etc.

After it is all paid, how long before I start to get a normal credit rating again?

Eventually, I would like to move home but I am trapped by a poor credit score.

Amysdad70

Just for a fuller picture, my mortgage, car finance, and secured loan are all up to date.

[Deleted User]

Impossible to answer as every lender is different and there is no single credit score.

But the longer your history of managing accounts well, and the more distant defaults, late payments etc, the better.

When you're ready for a mortgage, use a broker who specialises in adverse credit.