Credit Report Query

funkypriest

Hi

I have various defaults from 2013-2014.

I understand that these will drop off in 6 years however if they still have balances on them, I assume lenders can still see how much is outstanding?

I ask this as once my defaults have dropped off and my debt is being managed, does a lender such as a mortgage application see how much is outstanding?

Sorry if this is a silly question or has already been answered.

Thanks,

fermi

No, once dropped off, no-one can see details of anything about it via your credit reports.

Anyone checking your will quite literally not see any sign it exists.

funkypriest

Thanks, so hypothetically, you have a 10k debt outstanding it has been over 6 years since you defaulted so technically you still owe this 10k but it does not affect your future lending ability and doesn't feature in your search at all?

Thanks,

fermi

It won't appear on your credit report, and prospective lenders won't see it through that.

However, many lenders may ask on applications if you have outstanding debts etc. Not disclosing them if/when asked, would be application fraud.

funkypriest

Cheers Fermi, I thought as much.

The only credit I ever want again is a mortgage and that's a long way off!

Thanks,