Stepchange to Self Managed - F&F Question

DJB343

sourcrates said:

Though not a real concern, I'd like to keep my 'missed payments' on my report to a absolute minimum as I've not missed a payment since defaulting in 2017 and is one of the reasons why my score has been rising.

As your accounts have defaulted, that is what is recorded on file, default is the end game status, it won`t change now until it drops off your file, so no missed payments can be recorded, as you have already defaulted, although your balance over time may be shown in the form of a graph.

Think of the traffic light system -

Red -Default
Amber - Missed/late payment
Green - Tick, all good.

The payments you are currently making are not contractual, all that ended when you defaulted, so they are not recorded on your credit file, it will just show the default status now till it drops off naturally.

The balance of your account over a period of time may be shown by some CRA`s. but the default status trumps everything.

Your "score" rises and falls with any change and is only seen by you, and not used in lending decisions.
Lenders score you using their own internal scoring systems the public is not privy too.

Okay yeah that makes perfect sense! Thanks for clearing that bit up!