Credit Rating Queries

Cashcade

Firstly, a friend of mine has been in debt over several years with his credit card companies. I told him that CR agencies only retain info for 6 years. However, as his debts are still unpaid, and he hasn't been issued with CCJ because they have not been able to get hold of him. Is this a requirement for the issue of a CCJ?

Therefore, will his credit rating be extremely adverse?

Secondly, I have been living at a property for over 12 years and recently moved out. I am thinking of applying for a credit card, but was wondering whether this will affect my application. If so, what can I do to resolve it?

Thanks

boogiemaster

I think after six years the debt comes off the computer, I’m not too sure if that’s a debt that has been paid though? I may be wrong.

If you move to a new house and have lived there six months? They will ask for your old address.
It’s always best to be on the electoral register at your new house, as this confirms that you live there and gives a better chance of getting credit.

To help you get a better chance of being accepted for credit, you need to meet a few certain criteria.
Be on the electoral register so they can make sure you live there, that’s why they don’t need proof of address.
Being on the phone at home helps your credit score, because they can contact you if they need too.
If you just have a mobile phone? It shows them that you move around a lot and don’t like to commit yourself, and also maybe a serial debtor that doesn’t want to be traced.

Chadsman

A CCJ is issued against a borrower not an address. The court (as I understand it) doesnt need to know the exact current address just have some means of identifying the borrower- often a former address.

By unpaid do you mean he has made no payments at all, or that he has been making regular payments but just not yet paid it off?
Assuming you mean he has made no payments the CCJ will stay on his record as outstanding until the CCJ is settled in full and then on his CR showing as settled for a further 6 years when it will finally drop off. Furthermore he will still be defaulting on the debt each month the lender expects a payment but doesnt get it- making his credit record worse still.
Once the Courts/CC company catch up with him, linking him to the the debt, he will still have to pay back the debt, plus interest and other charges and he will have a sh*tty credit record to boot.

On the second point, moving address does have a detrimental affect on your CR but having been at your previous address for 12 years it wont be too bad PROVIDED your own CR at that address was clean.