Credit File from Credit Expert

icheckmate

Hi,

I like many others have a very poor credit file. I am now 28 and looking to settle down into an adult life. Unfortunately I have been completely irresponsible with money since I was 18 and have a credit score to show for it.

I signed up to Credit Expert to view my details and see how bad things really are.
Out of the possible 999 my credit score is a shocking 64.

I have current defaults. I believe these will fall off my credit report after 6 years. The 6 year mark is between July to October 2018.

Question 1.
Given I have been nearly 5/6 years without making any payments or contacting these companies, is it in my best interest to call and set payment arrangements or avoid them for 1 more year? For example will these details stay on my credit file for a longer period of time if I set up an arrangement now or will it benefit me to simply continue ignoring them?

Question 2.
How quickly can I expect to increase my credit score to what would be considered average/reasonable and what steps would you recommend taking to do this?

Thank you in advance

Steve

[Deleted User]

1. The accounts will drop off 6 years from default However, if they gain a CCJ, it's another 6 years. Are you still at the same address - will you know if you get served CCJ papers?

2. Your score may or may not increase. It doesn't matter either way. What matters is getting rid of bad history and building good. Getting a credit card and clearing in full each month is the best way of doing that.

icheckmate

I have no CCJs currently. I am in Scotland. Do you think it is likely debts for around 1k each will go down that route?

What happens if I get a CCJ and but I am not informed. What happens if I dont turn up to court?

icheckmate

Also, if I start paying them, will they still fall off after the original 6 year mark or will it reropen the account to another 6 years?

[Deleted User]

You'll end up with a CCJ.

A poster on this board got one this week for £350.

If you pay within 30 days, it will be removed. If not, it's another 6 years - or 5 years in Scotland I believe.

icheckmate

if I start paying them, will they still fall off after the original 6 year mark or will it reropen the account to another 6 years?

[Deleted User]

They'll still fall off after 6 (or 5) years.

icheckmate

One question.

I have been led to believe that in Scotland debt is Statute barred after 5 years.

All of the defaults are over 5 years now. Can I still get a CCJ now? How do I know or what do I need to do to ensure they are statute barred?

[Deleted User]

Check the default dates on your credit files.

icheckmate

I have checked the dates. Is it just automatically statute barred once the 5 year mark has passed from default date?

[Deleted User]

Have you made any acknowledgement of the debts since the defaults?

The time will run from the last date you did, or the default if not.

The defaults themselves drop off after 5 years.