Debt Repaid

May 27, 2010 4 Replies

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googlenospam 16 years ago

I have a £140 mobile phone debt on my credit record. This is the only debt in six years but is preventing me from getting credit. The Halifax tell me even if I repay the mobile firm now it may "take months" for the effects/evidence of the debt to clear from my credit file. Is there a way I can speed up this process, I now have the funds but it seems pointless repaying a debt if someone - the credit ref agency, the mobile firm? - are going to continue to advertise it and have it lower my credit score

Brokebusted

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Robin T Cox 16 years ago

Don't believe everything you hear about credit scores.

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Rob Graham 16 years ago

A debt default remains on your credit history for 6 years. History is history and can't be undone. But, credit history is not the same as credit score. What a lender makes of the historical evidence is up to it. Some may say 'no problem', others might take a more serious view of it. They all have their own ways of scoring you. But the point is that the scoring is not done by Equifax or whoever. They merely keep the records that others can interpret in their own way.

Rob Graham

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Peter Saxton 16 years ago

I pay my debts not because I won't get credit otherwise but because I owe the money.

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Payday 16 years ago

If you have sound repayment history, it won't affect your credit scor

which is more important when you take any loan

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