DRO & mobile contract?

Pinewapple

fatbelly said:

Well that looks ok to me

Ok Thanks, So do the default drop off 6 years after they were first registered as a default? 

And the DRO drops off 6 years from the start i believe? 

fatbelly

That's correct!

Pinewapple

fatbelly said:

That's correct!

So if i have all payments ontime for next roughly 5 years, When everything drops off credit file will look pretty good again?

Also would this affect getting a mortgage after all this drops off? Im currently 23.

fatbelly

Then there's light at the end of the tunnel. Your file will be clear in 5 years so get on the electoral roll, keep your bank account in credit, address history stable (if you can)  and get a couple of things on your file that you pay off each month - maybe a credit card or two.

Obviously start saving for a deposit

Pinewapple

fatbelly said:

Then there's light at the end of the tunnel. Your file will be clear in 5 years so get on the electoral roll, keep your bank account in credit, address history stable (if you can)  and get a couple of things on your file that you pay off each month - maybe a credit card or two.

Obviously start saving for a deposit

Ok thanks, I have EE phone contract for past 4 years and no missed payments, Same as with my EON utilities they both report to my credit file.

When checking report yesterday with clear score vanquis had "pre approved" me so i applied for that and got a £500 limit, I will put shopping and stuff like that on it and pay in full each month.

Robbie64

Apologies for asking this question in someone else's thread but the images of the credit file posted by Pinewapple are actually relevant to what I was going to ask in a new thread.

I had a DRO granted on 25 September 2019 that ended on 25 September 2020 and have been looking at my credit file which looks exactly as the images posted by Pinewapple. I'm assuming these too are from a MSE Credit Club Credit Report? Looking at the information posted in the image for the both the NatWest Credit Card and MBNA Ltd account, where it says Current Status: Default / Ended does that simply mean the account was closed? For Account Settled: [date] should the date be on or before the date of the DRO? On my credit file I have 6 accounts (all included in the DRO). Two have the Account Settled date matching the date I was granted a DRO. Four have an Account Settled date after the date of the DRO (these show dates ranging from 30/09/19 to 18/11/19. Do I need to get these changed?

Also, as can be seen from Pinewapple's images, will the companies continue to report something each month in the area of the report headed Status? Will there be a point where these monthly status reports end? I notice on my report and on Pinewapple's report that each credit entry also has Balance: [balance] credit in use. What does this mean? It makes it look like the accounts are somehow still active.

Again, apologies about posting my questions here but the images posted by Pinewapple make it easier for me to refer to the parts of my credit report where I am unsure of what I am seeing.

fatbelly

My understanding is that the default date (which that report isn't giving you) should be the date of the DRO at the latest. The whole entry drops off six years after that date.

If those two are a couple of months late in defaulting you, then that's not going to make a lot of difference but you coould look into it further.