Good score but zero chance of credit

TTurtle

I have just become debt free following 5 years of being on a debt management plan. Checked my cfredit score and it was 900+ in the good category.
I still have 12 defaults on my file as a result of previous difficulties
I presume this is why my loan eligibility checker looks so poor.
My question is......why is the score so high?

Gaz83

Because it's fictional.

Willing2Learn

TTurtle wrote: »

I have just become debt free following 5 years of being on a debt management plan.

Well done!! :j :T :j

TTurtle wrote: »

Checked my cfredit score and it was 900+ in the good category.
I still have 12 defaults on my file as a result of previous difficulties
I presume this is why my loan eligibility checker looks so poor.
My question is......why is the score so high?

Ignore your score. It is meaningless. A lender neither see nor uses your credit score. A lender scores you against their independent criteria and policies using the data found in your credit file, added to the data you submit in your application.

[Deleted User]

If you’ve just become debt free why are you looking at loans?

Craig1981

defaults will drop off 6 years after original default date

as said, ignore your score, its the history that lenders look at

also with Gary on this one... i assume you only asking about eligibility because your "score" is high and no chance of getting anything? hopefully the answer that score is fictitious puts your mind at ease

very bad idea to go looking for a loan when you have just cleared 12 defaulted debts

CakeCrusader

The lenders won't see your score, they will see a year's worth of defaults and see you as a risk though, sorry! Would you want to lend cash to someone if you knew they didn't pay their debts for a year? As time goes on these will have less and less of an impact, and, as others have said, they will fall off your credit file after 6 years. I know it must seem like a long time, but stick with it. Make sure you pay things on time, you don't go over any limits etc.