You can’t get a DRO removed from your report. However, you can check your report to make sure your DRO has been updated as ‘discharged’ after the DRO period (usually 12 months) is up. If it hasn’t, please tell us. You can also check to make sure that all the accounts that were included in your DRO are marked as satisfied or partially settled. If not, you should contact the relevant company. If you need help, ask us to raise a query with them on your behalf.
Your credit rating is likely to improve in the short term once the DRO and any individual defaults are marked as cleared, and in the medium term as they get older. Some companies will rate your most recent credit history more highly than events that took place several years ago. However, some companies may also have a policy whereby they refuse applicants that have a default on their credit report regardless of how old it is and whether it has been paid or not.
Additionally, if the reason for you defaulting was the result of something out of your control – such as losing your job or a serious illness – you might benefit from explaining this on your credit report. Simply send a statement of up to 200 words to the relevant Credit Reference Agencies. Known as a notice of correction, companies will see this when they check your report in the future and should factor it into their decision.