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Default on credit report
craighook
Posts: 2 Newbie
Hello,
On my credit report I have 2 defaults that I have just paid off completely. I understand it stays on the report for 6 years from the default date but will paying it all off improve me report/score in any way??
Craig
On my credit report I have 2 defaults that I have just paid off completely. I understand it stays on the report for 6 years from the default date but will paying it all off improve me report/score in any way??
Craig
0
Comments
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It will, especially as time passes but still a default is a default. Think about it from eyes of a lender, you get 2 credit files to look at. Both have 2 defaults some 3 years ago, first paid it off in full, second didn't bother at all. The second case is most likely an instant denial, but first may just get a second look.0
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What impact is has on your score is unknown as this is a randomly generated number designed to encourage you to sign up to the CRA's subscription services.
It is however, likely to improve the way that lenders view you. Lenders only see the raw data on your report and a settled default will look better to them.0
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