Default Drop Off Date

Gavinfraser1987

Morning everyone,

I have a default dated 31 December 2015 - so should drop off my credit file on 31 December 2021.  The default was settled in full in October 2019 - which is reflected on my credit file as well. 

I was just wondering how quickly the drop off will be reflected with the credit rating agencies - is it an automatic process (so e.g. next business day) or could it take a few weeks if its based on a data refresh?

The reason for asking is that I need to remortgage before 31 March 2022, and would ideally like the default to have dropped off / be reflected on my file before starting that process. However, if it is likely to take weeks for the drop off to be reflected, I may not have time for that. 

Many thanks in advance,
Gavin

sourcrates

The CRA`s update on a monthly basis, however the default shoud drop off your file on the date specified, a live check should confirm this, but it won`t be reflected in the information you see till the next update.

Gavinfraser1987

Thanks very much sourcrates - but could I just check what you mean by a live check?