Will My Score Ever Get Better

JanNB
JanNB Posts: 4 Newbie
in Credit file & ratings
Hi

I have a score of 137!

I lost my job 10 years ago due to ill health and that's when all the trouble started.

No CCJ's or IVA's but there are several defaults. If I pay them back they are still there for 6 years so does that mean my score won't improve for 6 years?

Comments

  • Richey_
    Richey_ Posts: 334 Forumite
    You are not paying £14.99 a month are you?

    THE SCORE IS A MARKETING GIMMICK!!

    Totally ignore the score and look at the history on each of the three credit agencies. Check for CCJs, defaults, late payments etc and make sure they are accurate. If they are inaccurate then you can complain as the records must be accurate, if they are accurate then time can be a good healer. Defaults drop off from 6 years after they were issued, not from when they were paid. If after 6 years you are still repaying them you will still owe the money (unless statute barred) but they will not show in your report.

    The three agencies are Experian, Equifax and Call Credit. To view your Experian record for free use the MSE credit club website, to view your equifax record for free use The Clearscore website and to view your Call Credit record for free use the Noddle website.

    Have you any credit card at the moment? Any credit card (even ones for tainted history) and paid off in full each month will help to improve your history as will being on the electoral roll. Time is the biggest healer. Most importantly just ignore the score, if you want a perfect score just go bankrupt and it will reset however nobody will touch you any time soon as your bankruptcy is in your history. The scor r ally is jus a marketing gimmick
  • JanNB
    JanNB Posts: 4 Newbie
    Hi there,

    No I just did the free trial to get my score then cancelled it.

    I don't have any credit cards that I can use they are defaulted now I'm afraid.

    Thanks
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    Just write your score backwards.

    It will immediately look better.
  • glosoli
    glosoli Posts: 739 Forumite
    First Post Combo Breaker First Anniversary
    When did the credit cards default?
  • sourcrates
    sourcrates Posts: 28,876 Ambassador
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    JanNB wrote: »
    Hi there,

    No I just did the free trial to get my score then cancelled it.

    I don't have any credit cards that I can use they are defaulted now I'm afraid.

    Thanks

    That could be the reason your fictional credit score is so low then.
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  • binaryuniverse
    binaryuniverse Posts: 906 Forumite
    First Anniversary First Post
    To try and be a little more helpful, yes, defaults will hamper your ability to get new credit until they have disappeared from your file. Not entirely, but you'll struggle to get any of the top 0% cards (though Tesco, I have found, are more lenient in this regard).

    Even if you pay the defaults off it doesn't seem to make a huge amount of difference, in my experience. They are a real pain in the bum.

    Best thing you can do is to try and get a credit builder card, and use that to buy a few things each month, and pay off in full. By the time the defaults are removed you'll have at least one account which a load of lovely green boxes in it, to help you apply for better products.
  • pcman1985
    pcman1985 Posts: 181 Forumite
    First Anniversary Name Dropper First Post
    Maybe the number will go up.
    Maybe the number will go down.
    Maybe the number will stay the same.

    There's no way to tell.

    The good news is that it is a meaningless number. Only you and the CRAs see it.
    It won't affect your chances of getting credit regardless if it is 100 or 999.
  • Superscrooge
    Superscrooge Posts: 1,171 Forumite
    First Anniversary Name Dropper First Post
    JanNB wrote: »
    Hi

    I have a score of 137!

    I lost my job 10 years ago due to ill health and that's when all the trouble started.

    No CCJ's or IVA's but there are several defaults. If I pay them back they are still there for 6 years so does that mean my score won't improve for 6 years?

    Having several defaults on your credit file will definitely reduce your chance of getting further credit. Would you lend money to someone if you knew that several times in the past they had borrowed money and failed to pay it back?

    The good news is that as the defaults get older they will have less effect. So your credit worthiness is likely to gradually improve as long as you don't default on any further payments
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