CCJs credit report

Alibee81

Hi,
I have a very poor credit score after a bad break up with my ex partner left me with a LOT of debts. As i have 4 children and wasn't working at the time, I fell into financial difficulty. I was left with £21000 worth of unsecured debt which resulted in a lot of defaults and a CCJ. I have since managed to pay them off (it has taken 7 years) and the CCJ has also been paid, but with 71months on it? (I'm not too sure what this means)
Does this mean next month it will be removed? And will my credit rating finally go up?
I have worked hard to repay everything and I want to be able to buy a house for myself and the kids soon, as we are currently living in an expensive private let.
Thanks,

Arleen

It will take 6 years from the day of settling those accounts for them to drop off your credit file. But what will happen is that now they will show as settled, which puts you in a slightly better position which will improve with time. Best you can do in that period is to slowly and carefully rebuild your credit file, by for example using one of the credit-building cards and making sure it's repaid in full each month.

But until few years pass, it will be borderline impossible to get a mortgage with CCJ on your file, even satisfied ones. What you can do meanwhile is look for a better deal on a rental place and save up for bigger and bigger deposit.

Rich7111

They will drop off six years from the date the CCJ was applied or the date of the default not six years from the date of settling the CCJ's / Defaults. Well done for clearing them up

Alibee81

Rich7111 wrote: »

They will drop off six years from the date the CCJ was applied or the date of the default not six years from the date of settling the CCJ's / Defaults. Well done for clearing them up

Thank you Rich, I could honestly cry, but I've only got a fe hundred pounds to pay! The end is in sight! I think it said it was 29 dec 2010. I have a vanquis credit card... i have a £2500 credit limit and sat at about £1000 spent, but I always pay off more than the minimum repayment.

sourcrates

Rich7111 wrote: »

They will drop off six years from the date the CCJ was applied or the date of the default not six years from the date of settling the CCJ's / Defaults. Well done for clearing them up

This is the correct info, easy to become confused sometimes.

Alibee81

Also, when I look at my credit report (experian) it has a date next to the defaults, will these disappear from these dates too? I think they are settled on dates

DCFC79

They will drop off after that date.

Dont get too focused on your credit score/rating as your the only person who can see it, no 1 else can view it. Your credit history is what the banks etc can see.

sw19online

the date that matters is the "default date" as 6 years after that they will be gone :j this is whether you have paid them or not.

Stigy

Alibee81 wrote: »

Hi,
I have a very poor credit score after a bad break up with my ex partner left me with a LOT of debts. As i have 4 children and wasn't working at the time, I fell into financial difficulty. I was left with £21000 worth of unsecured debt which resulted in a lot of defaults and a CCJ. I have since managed to pay them off (it has taken 7 years) and the CCJ has also been paid, but with 71months on it? (I'm not too sure what this means)
Does this mean next month it will be removed? And will my credit rating finally go up?
I have worked hard to repay everything and I want to be able to buy a house for myself and the kids soon, as we are currently living in an expensive private let.
Thanks,

Well done on clearing the debts. I was in s similar situation myself and have taken about the same amount of time be finally be credit worthy again! The age of the CCJ etc is measured in months, which is that 71-months you mentioned. As has been said, these will soon disappear. I have two satisfies CCJs due to drop off at the beginning of next year.

You might find you need to do some rebuilding, but I did this with a couple of credit cards that I spend on reasonably, but clear in full each month (use them for diesel usually....and the odd sneaky Costa lol). I've even been accepted for a decent current account now too (First Direct). Good luck with everything!