Credit file and old debt

[Calmdowncalmdown]

I have recently discovered that debts get wiped from your credit file after 6 years from the date you default - is this true? Obviously the debt would still need to paid regularly and on time etc. But just wondered, does your credit score immediately improve after those 6 years and would you be able to get credit again? I dont particularly want to but just for peace of mind. I thought I had a lifetime of a bad credit rating ahead of me but hoping that I could wipe the slate clean so to speak. I was very financially irresponsible in my early 20's and just hope it's not going to haunt me forever

Check out MSE (money saving expert) website, lots of great advice there, you can also get hold of your credit file and see where your at, MSE also has lots of advice on how to improve credit also.

This happened to me - I'm dreadful with money, I got into stupid debt in my early 20s and have shit all to show for it. I checked my credit report one day and was stunned to find just 2 debts on there out of a previous 12! BUT my credit rating is still absolutely shocking, so it doesn't 'wipe the slate clean' - only bankruptcy can do that. Though somehow I was accepted for a credit account with a children's clothing catalogue, and I've religiously paid it off every month, and that seems to have helped my credit rating a little.