CCJ settled before 6 years

LunaD

If you pay off a CCJ but it remains on your file for a couple more years will this help your credit rating score that it’s settled or will it make no difference whether it’s been paid or not?

LunaD

I also wondered once it’s fallen off after the 6 years does that boost your credit rating score? 

SilverContractor

Not sure about the settled status question.

But the second one, yes it will boost your credit score.  Some years ago I went from poor to excellent practically overnight once the six years were up.  

[Deleted User]

LunaD said:

I also wondered once it’s fallen off after the 6 years does that boost your credit rating score? 

It's just as likely to drop your score. But as pointed out on your other thread, it doesn't matter, as lenders will assess you on their own criteria.

bargainbetty

It will remain on your credit history for six years, settled or unsettled. Credit scores are largely fictional, as each service applies their own and lenders see the history and not the score.

The CCJ will have a detrimental impact on your ability to obtain credit until it falls off after six years. 

LunaD

bargainbetty said:

It will remain on your credit history for six years, settled or unsettled. Credit scores are largely fictional, as each service applies their own and lenders see the history and not the score.

The CCJ will have a detrimental impact on your ability to obtain credit until it falls off after six years. 

Thank you so much. 

At least I’ve only a couple more years then it’ll be taken off 😊

LunaD

SilverContractor said:

Not sure about the settled status question.

But the second one, yes it will boost your credit score.  Some years ago I went from poor to excellent practically overnight once the six years were up.  

Deleted_User said:

LunaD said:

I also wondered once it’s fallen off after the 6 years does that boost your credit rating score? 

It's just as likely to drop your score. But as pointed out on your other thread, it doesn't matter, as lenders will assess you on their own criteria.

Good to know once it’s drops off it’ll help my credit file. I wasn’t sure if settled before the 6 years it would help my credit file but I guess once it’s there it’s a bad stamp.

Thank you both.

[Deleted User]

SilverContractor said:

Not sure about the settled status question.

But the second one, yes it will boost your credit score.  Some years ago I went from poor to excellent practically overnight once the six years were up.  

Your score is a myth that no lender ever sees, it can go up or down as the wind changes and can be safely ignored. Lenders score you based on the data on your file on their own internal systems that you will never see

LunaD

Deleted_User said:

SilverContractor said:

Not sure about the settled status question.

But the second one, yes it will boost your credit score.  Some years ago I went from poor to excellent practically overnight once the six years were up.  

Your score is a myth that no lender ever sees, it can go up or down as the wind changes and can be safely ignored. Lenders score you based on the data on your file on their own internal systems that you will never see

Thank you. So what I see on my Experian file, all the details not just the score, they see more then that? Surely there isn’t more than what’s on my file? I’m not sure what else they can see.

[Deleted User]

They just see all the data that you see, though not the names of the lenders.

They don't see any of the comedy scores or ratings.

[Deleted User]

LunaD said:

Deleted_User said:

SilverContractor said:

Not sure about the settled status question.

But the second one, yes it will boost your credit score.  Some years ago I went from poor to excellent practically overnight once the six years were up.  

Your score is a myth that no lender ever sees, it can go up or down as the wind changes and can be safely ignored. Lenders score you based on the data on your file on their own internal systems that you will never see

Thank you. So what I see on my Experian file, all the details not just the score, they see more then that? Surely there isn’t more than what’s on my file? I’m not sure what else they can see.

They see everything on your file and use whatever score system they have in-house to make a decision