Hi
I successfully completed my TD in September 2013. I am currently trying to improve my credit score. Noddle currently rates me at 1/5 which is obviously not good.
I am offered credit via loans and cards but only on high rates.
Am I right in saying that after 6 years (which for me will be 4th August 2015) the TD comes off your file? Noddle shows it in public information. Also, some of the banks that I had loans with show defaults up and until 2013 - is that correct or should those be removed or rewound back to 2009?
Any info/advice appreciated.
Many Thanks
Gary
Welcome to the forum GeorgeF.
One thing we've learned here over the years is that it's not worth paying much attention to the "scores" provided by credit reference agencies.
They're just a guess at what a real lender might think. Lenders don't normally use them at all. Experian in particular seems to grossly overestimate the creditworthiness of people that have recently been discharged.
The things to focus on (if it's important to you) are:
1 - Ensuring the content of your credit file is correct.
2 - Building up a recent profile of good credit use.
Anything that goes onto your credit file will stay there for six years.
Actual default notices (rather than a monthly status update) should be dated no later (or not much later) than the start of the trust deed. This should result in these debts disappearing from the file around the same time as the trust deed does.