Credit report update

[Jonesyuk225]

Hi all,

 

I have had a default on my credit report for the past 6 years and finally June should be the last month that it is reported. After reading some posts it looks like even once this has dropped off my score won't immediately improve, is that right? Over the past 6 years there is only this account that is defaulted, the rest of the accounts on my file have perfect up to date payments, there are around 8 accounts in total all perfect.

 

Any idea what affect this final default dropping off will have?

 

Thanks

[renegadeimp]

It may take some time for your score to improve.

 

Also realise that the credit rating.score means absolutely NOTHING. Creditors do NOT use this as they have their own in house system. The rating on CRA's is there purely to get you to pay to subscribe to their monthly plan.

[BRIGADIER2JCS]

Hi all,

 

I have had a default on my credit report for the past 6 years and finally June should be the last month that it is reported. After reading some posts it looks like even once this has dropped off my score won't immediately improve, is that right? Over the past 6 years there is only this account that is defaulted, the rest of the accounts on my file have perfect up to date payments, there are around 8 accounts in total all perfect.

 

Any idea what affect this final default dropping off will have?

 

Thanks

 

What happens to the 'mythical' credit score which is only intended as a day to day indicator for you to see how any app you make will be seen by potential lender., you need at least 3 accounts that are up to date and well managed, no late or missed payments and not to have fully extended existing credit available.

A minimum of three years good +++ credit management should make a greater difference to your credit profile.