Equifax - Settled Accounts removal dates

[princess901028]

Hi All,

 

I was wondering if someone could help me please as I am a bit confused as to Settled accounts and dates they are removed.

 

I have managed to settle all my debts finally and I am trying to be realistic when I will be able to apply for a mortgage so trying to work out dates etc.

 

There are 8 showing as Settled and 3 credit accounts as up to date and have't had any issues.

 

Could you tell me how long a settled account stays on my file for is it 6 years? If so when is the date from?

 

Is it Default date? of Satisfied Date? or any other I haven't thought of.

 

Also if anyone knows, now they are settled does this increase my chance of getting credit or will be it once they are gone?

 

I repaid them in November last year mainly, so its been almost a year

 

 

Really value your thoughts, thank you.

[obiter dictum]

If an account that has been placed in default with the credit agencies, then settled??

 

It will not make one iota of difference

 

The only way to be clear is to wait six years from when the default marker was placed and the default drops off automatically

 

The majority of any credit applications are now done by computer with no manual intervention. All the search will do is pick up the current outstanding default status. Settled will make no difference

 

You will always get a company to give you credit, but you will pay for it in the APR

[dx100uk]

All references to a defaulted debt must be removed from your credit files after 6 years

has passed from date of default, whether paid off or not.

.

{the WHOLE ACCOUNT WILL VANISH, never to return}.

.

{however, this does not mean the debt itself is not still owed

consider a CCA request.}

.

This is so that someone who continues paying something

- even after 6 years from default

- should not be at a disadvantage to someone who pays nothing after default

and ends up with a clean file after 6 years.

NOTE: {the bracketted text is not ICO guideline but my advise]

[princess901028]

Thank you that is exactly what I needed to know