account has changed from defaulted to closed and credit rating has gone up dramatically?

stargirl170

Hi all

I try to keep up to date with my credit score and file due to the fact I got myself into quite a bit of debt a couple of years ago. I signed up with StepChange to sort this out.
Due to the fact I was not meeting minimum repayments on One of the accounts (Barclaycard) it went into default. This happened in July 2018.
Because of the debt and this default my credit score has been very poor and I have been working to pay off the debt and my credit score has slowly been going up. Last month my credit score was approx 300 out of 999 on experian.
The Barclaycard debt has now been sold onto PRAGroup and the default has been marked as closed/settled. Due to this, this month's credit report is showing a significant change in my credit score - its up to 900 out of 999!
I'm struggling to understand why this is - I am aware defaults should show on my report for 6 years.
Can someone explain why my credit score has suddenly gone up so much?

[Deleted User]

Because they can shift fairly randomly with any given change.

I wouldn't worry about it, it has little meaning. You'll still be viewed as high risk given your circumstances, no matter what number you're allocated.

battyboimatt

It is probably because they have sold the debt to PRA Group, PRA will register the default under there name if they have now bought it. It might just take a month or so to reappear.

DCFC79

stargirl170 wrote: »

Hi all

I try to keep up to date with my credit score and file due to the fact I got myself into quite a bit of debt a couple of years ago. I signed up with StepChange to sort this out.
Due to the fact I was not meeting minimum repayments on One of the accounts (Barclaycard) it went into default. This happened in July 2018.
Because of the debt and this default my credit score has been very poor and I have been working to pay off the debt and my credit score has slowly been going up. Last month my credit score was approx 300 out of 999 on experian.
The Barclaycard debt has now been sold onto PRAGroup and the default has been marked as closed/settled. Due to this, this month's credit report is showing a significant change in my credit score - its up to 900 out of 999!
I'm struggling to understand why this is - I am aware defaults should show on my report for 6 years.
Can someone explain why my credit score has suddenly gone up so much?

Your score means nothing so essentially I wouldn't both about it.