Does a satisfied default affect my credit rating?

• Yes, to put it simply, a defaulted account will affect your credit rating/score.

  Although you may have paid the default, and it will be marked as Balance Satisfied on your credit report, it is still a default.

  Satisfied defaults stay on your credit report for six years from the default date.

  Unfortunately there is no straight answer as to how many points you will actually lose due to the complexity of the credit scoring system. However it is safe to assume that a defaulted account, even a satisfied one, will cause difficulties when trying to get credit for the entire time it is on your credit report.

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  See Also:

  1. How long does a default stay on your credit report?
  2. What is a default?
  3. How does a County Court Judgment (CCJ) affect my credit report?
  4. Can other people who have lived at my address affect my credit score?
  5. What is the highest credit score