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What does paying off a default do to your credit?
glasgowm148
Posts: 174 Forumite
I've tried googling and it just says that it will help improve your credit but still won't be off your file for 6yr. So how does it help?
I have a default for £14 from 2013 that I'm going to pay off. What happens to it then?
I have another for £0 from 3 - due to come off Oct this year. Is it £0 because I've paid it or is that some sort of error?
Also, I'm using clearscore. Do they not go into the detail of telling you defaults/CCJs? Will I need a more extensive credit report? Currently they're both under Accounts > Closed
Cheers :beer:
I have a default for £14 from 2013 that I'm going to pay off. What happens to it then?
I have another for £0 from 3 - due to come off Oct this year. Is it £0 because I've paid it or is that some sort of error?
Also, I'm using clearscore. Do they not go into the detail of telling you defaults/CCJs? Will I need a more extensive credit report? Currently they're both under Accounts > Closed
Cheers :beer:
Capital One - 950/1400 :eek:
Barclay Card - 400/1250 :beer:
Overdraft - 1500/2100 :mad:
Personal Debt - 0/2000 :T
nPower - 900/1115 :A
Total - 3724/7900 -- 52% paid off!
Barclay Card - 400/1250 :beer:
Overdraft - 1500/2100 :mad:
Personal Debt - 0/2000 :T
nPower - 900/1115 :A
Total - 3724/7900 -- 52% paid off!
0
Comments
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A settled default looks better to lenders than an unsettled one. However, the default is still a large negative.0
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Thanks - I take it I'll need to sign up for a full credit report to see settled/unsettled as clearscore doesn't give me that info.
Can you not get creditors to remove the default as part of the agreement to repay?
I found this advice on another form and think I'm going to chance my luck and try and get it removed this way if not --
http://www.get outofdebtfree.org/forum/viewtopic.php?f=11&t=66462Capital One - 950/1400 :eek:
Barclay Card - 400/1250 :beer:
Overdraft - 1500/2100 :mad:
Personal Debt - 0/2000 :T
nPower - 900/1115 :A
Total - 3724/7900 -- 52% paid off!0 -
Try noddle that's free too.Debt As Of 19/3/2021: £16,973 | Current Debt: £9,322 | 54.9% Repaid0
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glasgowm148 wrote: »Thanks - I take it I'll need to sign up for a full credit report to see settled/unsettled as clearscore doesn't give me that info.
Can you not get creditors to remove the default as part of the agreement to repay?
I found this advice on another form and think I'm going to chance my luck and try and get it removed this way if not --
http://www.get outofdebtfree.org/forum/viewtopic.php?f=11&t=66462
Hi,
On such a small debt what is the benefit to them ?
I doubt they will be interested.
Good luck with the "other forum" but dont hold your breath.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Thanks for the responses, on Noodle my credit report is completely different. For example the £14 debt isn't even on there. Is this usual ?Capital One - 950/1400 :eek:
Barclay Card - 400/1250 :beer:
Overdraft - 1500/2100 :mad:
Personal Debt - 0/2000 :T
nPower - 900/1115 :A
Total - 3724/7900 -- 52% paid off!0 -
glasgowm148 wrote: »Thanks for the responses, on Noodle my credit report is completely different. For example the £14 debt isn't even on there. Is this usual ?
Yes, some creditors report to one CRA, others to another, some to another.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Right, well luckily I don't have any new debts that have appeared as Clearscore seems to be more complete.Capital One - 950/1400 :eek:
Barclay Card - 400/1250 :beer:
Overdraft - 1500/2100 :mad:
Personal Debt - 0/2000 :T
nPower - 900/1115 :A
Total - 3724/7900 -- 52% paid off!0 -
glasgowm148 wrote: »Right, well luckily I don't have any new debts that have appeared as Clearscore seems to be more complete.
There are three credit reference agencies... you need to check all 3...DFW Nerd #025DFW no more! Officially debt free 2017 - now joining the MFW's!
My DFW Diary - blah- mildly funny stuff about my journey0
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