We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Are 3 defaults worth 350 points each?

Options
ChocolateFrijj
ChocolateFrijj Posts: 3 Newbie
in Credit file & ratings
Hello! I can't find the answer to this question anywhere, does anybody know? I have 3 defaults, are they worth 350 negative points each?
Thanks!!
Luke

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    No. They're worth whatever random number the CRA gives them. They may be positive or negative points.

    Focus on not defaulting, clearing your debts and managing your credit responsibly.
  • ChocolateFrijj
    ChocolateFrijj Posts: 3 Newbie
    Hello! Yes I'm focusing on repairing and staying on top, which is just why I ask, how many points am I ikely to go up by once defaults age by 2 years?
    Thanks!
    Luke
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    None. The score is fictitious. Always ignore it.

    Just manage your credit responsibly.
  • ChocolateFrijj
    ChocolateFrijj Posts: 3 Newbie
    Thanks for your help in repairing my credit score 😂👍
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    No problem. Hopefully you've saved yourself a lot of heartache and needless frustration.

    Remember to keep it simple.

    Good things good. Bad things bad. CRA score meaningless.
  • Ben8282
    Ben8282 Posts: 4,821 Forumite
    1,000 Posts Combo Breaker Newshound!
    edited 24 April 2019 at 3:28AM
    ChocolateFrijj wrote: »
    Hello! I can't find the answer to this question anywhere, does anybody know? I have 3 defaults, are they worth 350 negative points each?
    Thanks!!
    Luke
    YES Your previous 999 Experian score has now dropped to -51. Good luck with your negative credit score. Enjoy it while it lasts.
    ChocolateFrijj wrote: »
    Hello! Yes I'm focusing on repairing and staying on top, which is just why I ask, how many points am I ikely to go up by once defaults age by 2 years?
    Thanks!
    Luke
    If settled 17 points each so your credit score will be 0.
    If unsettled, 4 points each so your score will increase to -39
  • PixelPound
    PixelPound Posts: 3,057 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Deleted_User wrote: »
    None. The score is fictitious. Always ignore it.

    Just manage your credit responsibly.
    You should have that as your signature it would save a lot of time :rotfl:

    To OP,the "score" is a marketing ploy to get the public to subscribe to their pay-for services. Creditors will see the facts on your file, i.e. the defaults and balances and use that to work out what risk you are
  • JayMawds82
    JayMawds82 Posts: 28 Forumite
    10 Posts Second Anniversary
    No. If they were, you'd have a negative score
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    JayMawds82 wrote: »
    No. If they were, you'd have a negative score

    And would still be as useful and accurate as a positive number
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.8K Banking & Borrowing
  • 253K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.8K Work, Benefits & Business
  • 598.7K Mortgages, Homes & Bills
  • 176.8K Life & Family
  • 257.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture