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Topic starter
06/01/2011 8:25 pm
For some reason I ordered a copy of my credit report online and finally got a chance to view it tonight when I received the access codes required.
I have only ever ordered a copy of this report once before (another case of burying my head in the sand I suppose) It certainly does look scary with all of the defaulted accounts, etc and was just wondering one thing. The creditors within my TD that appear on my credit file, will they continue to appear on my file until the end of the TD or will they drop off the report six years from the date of the default.
Sorry if I haven't explained this too well, but credit reports are something that I do not have too much experience of. I also think that there is not too much information given by the credit agency on interpreting the report.
Any info would be welcome.
Thanks
06/01/2011 10:55 pm
Hi gresgow.
This answer comes with the usual warning that none of us are experts on credit ratings or credit files.
"Events" are recorded on your credit record. They vanish six years later. An "event" might be a payment, a missed payment, a default notice or the start of a trust deed for example.
Creditors normally mark default notices as "satisfied" once a trust deed is completed, though it's possible you might have to chase one or two of them up to ensure that this is done.
A satisfied default notice is much less damaging to your credit rating than an unsatisified one.
I hope that helps to explain but if I've missed the point you were looking to clarify please let us know.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
