Points lost due to a default 26 October 2021 at 4:44PM in Credit file & ratings 2 replies 193 views

YorkyGal10

Hi,
I defaulted on a mobile phone bill in Oct 2019 - my own silly fault. I just buried my head in the sand due to a few things going wrong in my life and I forgot about the debt until I received notification from Experian to say I'd defaulted.
What I'm trying to find out is how many points do I lose. I've read somewhere that you initially lose 350 for a default but after 2 years it reduced to 250 (or effectively you get 100 points back). However I don't know if that's fact or conjecture. 
Can anyone point me in the right direction to find out. 
My account has been paid now and all other payments are up to date, it's literally years since I was late paying a bill as I've had my mortgage for 4 years and it happened years before that.
Thanks for any help you can provide. 

[Deleted User]

The points are just a gimmick. You lose points for any change - so as long as you keep the default, you'll be ok, but when it drops off your file, you'll generally lose a load more points. 

But it doesn't matter, as the points are seen by anyone and can't be exchanged for anything. The older the default, the better lenders will view you. And once it's gone, even better, despite the lost points.

macman

Credit score is a fictitious number that lenders can't even see: what they look at is your credit history.