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Paying Off Old Debt & CCJ Drop Off
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Posts: 1 Newbie
I have just returned from living abroad and done a credit check which showed up a 1/5 credit rating all for some very small debts totalling less than 3k. I also have a CCJ which is due to drop off later in the year.
I have requested documentation from the companies who are owed funds and will pay the debt as soon as they send me the info but my question is this.
As soon as the CCJ goes off the radar and all the defaulted debts are cleared how long will it take for my account to improve. Would for example I be able to get a mortgage if I put down say a 50% deposit or will it take years to improve?
I have requested documentation from the companies who are owed funds and will pay the debt as soon as they send me the info but my question is this.
As soon as the CCJ goes off the radar and all the defaulted debts are cleared how long will it take for my account to improve. Would for example I be able to get a mortgage if I put down say a 50% deposit or will it take years to improve?
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Comments
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Lenders will view you more positively once the negative data is no longer visible, or as it ages.
A large deposit will also open up greater mortgage options. However, you'll probably want to use a broker if you still have unsettled defaults currently.0
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