Credit rating recovery

sinbad55

Hi All,


My husband and I want to buy a house in the near future, preferably in the next 18mths. We looked into things last year and realised that his credit rating was very poor to say the least (250ish). My credit rating is near excellent (920). He had a number of defaults and CCJs, when he got into financial difficulties before we met.


However they should all reach the crucial 6yrs old by the end of this year (When hopefully they should be removed from his credit history). So I was wondering by how much will his rating improve? and how long will it take to improve? He has not had any difficulties in the last few years.


Thanks in advance.

National_Debtline

Hi Sinbad55 and welcome to MSE,


Unfortunately, that is a very difficult question to answer. There is no set amount it will improve by because your score is not what lenders see. They see your credit history and worthiness, so once the CCJ's and defaults come off his file it will look better but other aspects of his history are also a factor, such as his age, whether or not he is on the electoral role etc.


He can try and improve his score by taking out very small pieces of credit, spending a small amount per month and clearing it in full but just make sure he is careful and the debt doesn't grow again. Good luck,


Laura
@natdebtline