Took a big hit on my credit score - I need advice please

sourcrates

Its 6 years from date of default.
The score you see is just a marketing tool for the credit reference agencies, if you look on the credit karma website for example, it states "we are a credit broker" that means they are in the business of selling stuff, your credit score is a part of that selling process.
The score lenders use is unique to them, and is confidential.

ilikemalk

Deleted_User said:

Yes. It measures change, not credit worthiness. 

But no one see it but you, so it's all good.  You can tell people you have a high score if you want - no one will ever know.

I was more concerned about how it would impact my ability to rent if i'm honest

[Deleted User]

Rental agencies typically only see public data, such as CCJs and bankruptcy. An old settled default won't be a concern.

ilikemalk

Deleted_User said:

Rental agencies typically only see public data, such as CCJs and bankruptcy. An old settled default won't be a concern.

Thank you for this.

Jamesyb123

ilikemalk said:

Deleted_User said:

Once the default drops off , your score will drop as it's a big change.  

But as you might have heard, that's not a problem.

You need to be responsible with your borrowing, not your lending. Check all three files to see what's actually appearing.

My score will reduce further after it DROPS off?

Just ignore the score that’s what people are trying to tell you. It’s a massive positive that the default won’t be on your history anymore. If that’s the only negative you will have a nice clean history.