Your credit record gets better after six years unless… If you think one is too late, read What Should the Default Date Be? which explains how to get an incorrect date changed. So find out what all your default dates are. It doesn’t matter what happens after the default – whether you pay the account in full, start paying it, agree a partial settlement or don’t pay anything at all, the account will still be deleted after six years. Six years is the important dateĪ defaulted account will drop off your credit record six years after the default date. To start, it’s good to know what your credit history is now by checking all three credit reference agencies. That credit rating number isn’t the only thing that matters! The simple answer is No!īut there are very good reasons why paying defaulted debts will improve your general credit situation, making it easier for you to get a loan, a mortgage or a credit card in future. A reader asked if starting to pay a defaulted account will help his credit score.
