What debt solutions do to your credit file
An honest look at the damage, how long it lasts, and what recovery actually looks like.
The six-year rule
Defaults, insolvency markers and judgments generally drop off your credit file six years after they are recorded. Formal solutions also appear on public registers while they are running.
Damage often started earlier
By the time most people look for help, missed payments and defaults are already on file. A formal solution frequently adds less harm than the year of missed payments before it.
Rebuilding
After discharge, small consistent steps work: the electoral roll, one modest account paid in full each month, and no new applications for a while. Recovery is slow but reliable.
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Check my optionsMay not be suitable in all circumstances. Fees apply and your credit rating may be affected. Arcadia is an information service — always consider free, independent advice before deciding.