It maybe maybe maybe not forever. Defaults fall off after 6 years.
6 years following the standard date, a financial obligation drops down. It’s a while that is long not really a life phrase!
Hi Sara i desired to learn if your standard is just a public record please? I am aware a ccj is just a record that is public but We cant find an absolute response to whether a standard is general general public. Many thanks .
How does this matter for your requirements? I will be asking while you may not need phrased your question quite appropriate, so once you understand the backdrop will be helpful.
Hi Sarah, I happened to be hoping to look for clarity on a place.
We defaulted on credit cards financial obligation of £3000 three years ago, We buried my mind into the sand for three years, paid nothing and contains now been offered onto Cabot. I’ve had zero contact with either the CC that is original company Cabot.
When I comprehend in three years time this financial obligation will fall down (barring a CCJ application) and my credit rating should enhance.
Would there be any benefit to my credit rating of engaging with Cabot and wanting to show up with an agenda (I assume they might insist upon this being more than a maximum of three years to avoid some body stopping having to pay 6 years following the initial standard) ie if I earn some repayments for the following 36 months would my score get up, or would it not remain just like if I’d maybe not made any payments and attempt to wait or the 6 years.