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Confusion about credit default and when it will drop off
Needhelp14
Posts: 21 Forumite
Hello,
I'm hoping someone can help me, previously when I was younger I got into some debt, I have since cleared all of the debt and kept up with all payments etc for the last few years.
However, I am confused as to when a "Worst State" will drop off of my credit file, I know that accounts usually hold history for the last 6 years.
I have an account that went to a 6 for unpaid balance in December 2012, however, the debt was cleared in January 2013. The account then remained open until April 2015, where I closed the bank account.
When my payment was made, the account changed to 6 to OK state.
Now, I am confused as to when the "Worst state 6" will drop off and the worst state will show as "OK"
Will, the status change January next year to "Worst OK" as that will be 6 years since I paid the outstanding balance, or will the worst 6 reports all the way until 2021 as I closed the account in 2015? Check my file states "Reported until March 2021" but that would be 8 years since I cleared the outstanding balance.
It would be good if someone could help advise.
Thank you
I'm hoping someone can help me, previously when I was younger I got into some debt, I have since cleared all of the debt and kept up with all payments etc for the last few years.
However, I am confused as to when a "Worst State" will drop off of my credit file, I know that accounts usually hold history for the last 6 years.
I have an account that went to a 6 for unpaid balance in December 2012, however, the debt was cleared in January 2013. The account then remained open until April 2015, where I closed the bank account.
When my payment was made, the account changed to 6 to OK state.
Now, I am confused as to when the "Worst state 6" will drop off and the worst state will show as "OK"
Will, the status change January next year to "Worst OK" as that will be 6 years since I paid the outstanding balance, or will the worst 6 reports all the way until 2021 as I closed the account in 2015? Check my file states "Reported until March 2021" but that would be 8 years since I cleared the outstanding balance.
It would be good if someone could help advise.
Thank you
0
Comments
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6 years from default.0
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Sorry, the title was a little wrong as it never actually hit default, just the worst status of 6.
But you're saying it would drop off January 2019 in this case? If so that's great news as it's the last negative thing on my credit score!0 -
If it didn't default, then it'll drop off 6 years from closure. But each marker drops off 6 years after it was put on.0
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Ok thanks, it will have been 6 years in January since the sate changed from 6 to OK. Looking forward to that clearing off
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It will yes - bur don't fret about your "score" - if anything, it will drop even more when the marker get removes.
The scores are made up and react negatively to good or bad changes0
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