If my credit rating is affected and I at a later stage pay off the full amount would this ''correct'' my rating and would i be able to get a mortgage in the future etc ?
Also if my credit rating is affected and they are giving me an option to ''settle'' by paying a slightly lower amount back to them would I be better off going down this route as my 'credit rating is affected'' i.e is there any point in paying the full amount back if the rating is messed up?
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My understanding is the ICB only show the most recent 24 payments of loans etc active in the last 5 years.
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But someone with missed payments, if they got back on schedule today and then made the next 24 payments on time, then all 24 boxes would be ticked when a mortgage provider applies for your ICB report in 2 years time.
is this precisely the same information the bank would see or would they see the whole repayment history for any loan that falls within the 5 year window...?
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