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Dro 6 yrs UP. Credit file 5-10 on credit club what is it like to go upto
Qwertyuiop1978
Posts: 7 Newbie
in IVA & DRO
Hi please help. My dro is finally off my credit file on 31/10/2025. I have a credit card and car on finance that I have no missed payments on in the past 4 years. On my mse
credir score it says 530 but affordability is 90. %
credir score it says 530 but affordability is 90. %
Any ideas what it will go to once this is off
thanks in advance
thanks in advance
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Comments
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were all the debts in the DRO marked as defaulted with a default date on or before 31/10/2019? If they werent, you will still have problem debts showing for a while0
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It might go down, it might go up to 999 but it matters not a jot. No lender sees it.0
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Thanks for the reply. I was wondering if that was the thing why my scored was so low.0
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Yes all defaults have dates of 31/10/2019 or before. Thanks0
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Has anyone got experience of this and can share what actually happened please0
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Nothing "happens", your credit worthiness would be assessed by any new lender you applied too.Qwertyuiop1978 said:Has anyone got experience of this and can share what actually happened please
If you met their criteria for lending, they would lend to you, if you didn`t, they wouldn`t.
Try not to overthink things, or rush to get back into debt again.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
It’s that I’m looking to get a mortgage asap. I have a sizeable deposit but wanted to know if once it ‘gone’ from my record it would be easier. I don’t want to rejoin my record again by applying and being declined
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Ruin not rejoin0
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Mortgage lenders dont like to see any insolvency on your credit score, so the DRO and all the debts in it dropping off will be a real help.
But you need to apply through a broker, not risk an application directly as some lenders may ask about previous insolvency, and you have to say YES even though it is off your record. A broker will know which high street lenders may mind and which wont.
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That’s excellent help. Many thanks for the
advice.0
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