Clearing debt to improve credit score

ronniemillie

Hi I have £1500 of debt which is filed on Experian as defaulted accounts, if I were to pay these off would my credit score improve instantly or would I need to wait until the "6 years" is up?
Thanks all, trying to improve my credit score.

[Deleted User]

Ignore your score. It’s made up.

If you owe money then pay it.

This will improve your credit history and sense of self fulfilment.

ronniemillie

I am paying it, but what I'm asking is if I pay it all up and clear it now will my credit rating go up...?

[Deleted User]

It will go up no more than paying it later.

You don’t have a credit score or rating.

ronniemillie

Wouldn't lenders see that the debt has been paid and improve my credit history?

[Deleted User]

Yes. Your history. Not the score or rating.

They will see the debt is defaulted and has arrangements to pay. But a settled debt looks better than one currently being paid.

MEM62

A settled default will look better to potential lenders and therefore, yes, paying the debt will improve how you are viewed by potential lenders.