Credit Score?
Is it true as negative information drops off your credit file,your score will then increase...? how many points do a ccj cost you and how many points on ur credit file does a default cost you?
Public Comments
- Yes that is true.
- Yes it's true, my husband is still getting negative information dropping off of his credit and his credit score is going up that and if you get a car loan and or mortgage and keeping paying on that, that will help you too!
- CCJ's and defaults don't 'cost' you a certain amount of points. The information is stated on your record and companies interpret this how they wish, some may see it as very detrimental and in their own system this may cause them to devalue your score by an amount, some companies may not see it as so much of a problem and it would only be a minor deduction. You can get a free copy of your credit report from experian, this will show you everything.
- The credit score is just a recognised way of prediciting a person future credit conduct passed on their exisiting conduct. Different compaines have different score cards so one company may not be too fussed about a CCJ whereas another will try to avoid it. If you conduct is good you should get a good rating. However the credit will check different things and companies can have other information on their scorecard. ie a company may score you highly if you have lived in the same address for an extended period or are married etc etc
- Information stays on your credit file for 6 years, theres no amount of points as such for things like a ccj or a default, but different lenders will view these differently. Theres a sliding scale of things and the further down the list the worse it gets, defaults, ccj's etc. the two things that make it impossible to get anything are a CIFAS fraud warning and a gone away alert - get either of those and you're boned.
- Experian has a service that will alert you when your credit report changes, which is good not only for seeing the data loan companies are looking at when considering your loan, but also for detecting identity fraud. You can sign up for a free 30-day trial at:http://www.dpbolvw.net/click-2281748-10366640
