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What does 'six years' really mean??
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HI i have a related question regarding the six year rule. I have two debts defaulted in Oct 2011 so should come off my file in Oct this year. Once they are removed does that mean my credit rating will improve or will it stay the same but debtor cant see the details? Thanks for your time to answer this questionWhen you know you have a bad credit rating:
1) When your bank wont even let you go £10 o/d
2) When you cant even get a payday loan
3) Your local restaurant asks for payment up-front before serving you lunch:)0 -
Your credit rating, as given by the CRAs, means less than nothing.
Lenders will no longer be able to see the defaults. That will improve how they view you.0 -
Deleted_User wrote: »Your credit rating, as given by the CRAs, means less than nothing.
Lenders will no longer be able to see the defaults. That will improve how they view you.
THanks but I meant that "magic" number between 100-999 mine is very poor 460 at the moment and its been hovering around that ever since these defaults were added so hoping once the disappear it should jump higher. NB I wont populate with thread with my other comments but I have one final debt in dispute so it never going to jump to a great score but would be good to have a rough idea how this will impact my rating..When you know you have a bad credit rating:
1) When your bank wont even let you go £10 o/d
2) When you cant even get a payday loan
3) Your local restaurant asks for payment up-front before serving you lunch:)0 -
appleblossum wrote: »THanks but I meant that "magic" number between 100-999 mine is very poor 460 at the moment and its been hovering around that ever since these defaults were added so hoping once the disappear it should jump higher. NB I wont populate with thread with my other comments but I have one final debt in dispute so it never going to jump to a great score but would be good to have a rough idea how this will impact my rating..
That magic number is nothing but marketing waffle. Lenders don't see it. It's generated by Experian to give a very general indication of how lenders might look at you.
In all fairness different lenders have very different criteria.
What actually matters is the details on the file. So those defaults, yes will be hanging over you. CCJs would do the same. Late payments the same. These are details the lenders do see.2.88 kWp System, SE Facing, 30 Degree Pitch, 12 x 240W Conergy Panels, Samil Solar River Inverter, Havant, Hampshire. Installed July 2012, acquired by me on purchase of house in August 20170 -
appleblossum wrote: »THanks but I meant that "magic" number between 100-999 mine is very poor 460 at the moment and its been hovering around that ever since these defaults were added so hoping once the disappear it should jump higher.
Experian run a double points bonus offer if you can pat your head and rub your stomach at the same time.
Maybe try that.0
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