ChatterBank0 min ago
How long will my credit stay bad??
3 Answers
In 2003 I defaulted on a loan, credit card and overdraft with HSBC to the tune of around �10,000. I used a debt management agency to negotiate lower monthly payments and frozen interest on my behalf which I now pay every month on time.
I would like to buy a house and my self and my husband (who has an excellent credit rating) are looking for a 100% morgtage. I was wondering how long we will need to wait before my credit becomes old enough that morgtage lenders will consider lending to us.
I would like to buy a house and my self and my husband (who has an excellent credit rating) are looking for a 100% morgtage. I was wondering how long we will need to wait before my credit becomes old enough that morgtage lenders will consider lending to us.
Answers
Best Answer
No best answer has yet been selected by lilyfrog. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.6 years - not sure where you get the bankruptcy 10 years from though - this isn't accurate in normal circumstances.
Whislt 6 years is the period that it will stay on your credit file for, lenders will look at your circumstances before this.
First thing to do is pay it off asap, and get is marked as satisfied on your credit report. Try also to save up a deposit of some sort. Most lenders will look more favourably if you have a deposit.
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