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  1. #1

    how long before paid off debt is removed from credit file

    I have outstanding mortgage arrears due to selling at a shortfall. It's 11,000. The company have contacted me offering to settle the debt for 3000. I don't have any savings or 'assets', I'm retired and living in a rental home now.
    I have been trying to find somewhere cheaper to live but keep on being refused when the credit check is done and I'm wondering if this is the reason why.
    My family say they may be able to help me with this, but before comitting, I'd like to know if, after paying it off, will it stay on my credit file ? if so for how long ? and will it still be taken into account even though it will have been paid off.
    When applying for a property, credit checks cost a lot of money and I can't keep paying for them.
    I checked my own rating with Experian online, and I was 991 out of 999, now if that's true, I must be a good bet ! not a bad one.
    Any advice/comments please ?
    Thank you in advance.

  2. #2
    The balance would be updated in the next month's report.

    The arrears would show for 6 years.

    You're not a good bet, because you have mortgage arrears. Unfortunately your credit score is a made up number provided by a company that doesn't lend money.

    That's why the credit scores are not seen or used by anyone else.

  3. #3
    Does that mean that even though it would be paid off, it would still appear that I had arrears in a credit search ?

  4. #4


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