Prehistoric Debt wrecked credit file - now paid - when will it repair?

SamanthaRM

Hi,

I paid off all debts I owed from a previous relationship almost 6 years ago, and after getting a joint mortgage and some credit over the past few years, I have still been plagued by many credit rejections. I found a prehistoric debt on my file which I was never contacted about, and after months of letters and trying to resolve it with no success, I've given up and paid it off in full as I need to move forward (selling current home due to separation and need to get a mortgage in my own name). I'm sure that I my credit file won't repair instantly and it'll still take time before I'm able to get a mortgage so I plan to rent first, but I wondered if anyone had any experience/idea on how long it will take to get better?
I also have a CCJ that was registered 27/06/2010, I assume this will leave my credit file very soon as it'll be 6 years on 27/06/2016? Is that right?

I have current active credit with various agencies/banks so now have a long history of good credit - it's just this ongoing default and old CCJ that has completed ruined it

Any help would be appreciated. Many thanks

fermi

See this link --> https://forums.moneysavingexpert.com/discussion/4756875

National_Debtline

Hi Samantha

The default and CCJ will both drop off your file completely 6 years from the date they were originally put on there. Once they've dropped off they will no longer have a negative effect on your credit history.


EDIT - cross posted with fermi

James
@natdebtline

SamanthaRM

Thank you for the link fermi. It helps confirm the 6 year rule, I just wondered how long it actually takes to improve the score, which is more my concern at the moment. Thank you

fermi

Lenders will 'score' you on their own criteria based on the factual data they can see on your credit file at the time.

So as soon as the defaulted accounts are gone, they will not impact how lenders see you.

andyfromotley

Your ability to get credit is based on your history which is only very loosely connected to your 'score' which many of us think is completely useless.. For things like mortgages etc different lenders will have different criteria. Hop onto the mortgage board for more advice. But a good broker who specialises in adverse credit will be able to give you firm answers.