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Credit file & ratings

Archives for October 2020

How hard to be excepted for £1600 Dfs sofa with poor credit score
I think it's something to do with Barleys finance. Is it easy or hard, If I get excepted would this mean my credit score is okay?
Update personal details
I need to change my personal details, since registering,my email and telephone number have changed, I have managed to change to my new email, but now I need to change to my new phone number, any advice would be appreciated Thankyou
Same property, new postal address. Will it affect credit ratings?
The freeholder of our block of flats wants to change the postal address of some of the flats in our block because of chronic and acknowledged difficulties with postal deliveries. The new and old postcodes are in the same area (XXn) and the second part of the postcode has the same opening digit. We all have to agree to the…
Income to Debt Query
Hello all, Quick question on "income to Debt" ratio. Does this take into account the credit limit itself of existing credit cards, or just the balance outstanding? I have a CC that is completely clear, but with a high limit. I'm not sure if I should close it down? If it's impacting the "ratio" then I'll close the account,…
Default for £60 CC Overspend without warning
Hi, My wife received a letter today confirming a notice (default charge) was being applied to her account because she made a transaction that put her credit card £60 over her credit limit. The balance of the card is paid in full every month, no notifications had been received suggesting she was approaching the limit, and…
Bounce Back Loan Impact on Ability To Remortgage
I run a small business (sole trader) and I am now considering a bounce back loan as we fear a lockdown. We managed last time another would be difficult. I took out a loan a year ago, before lockdown obviously. I would pay this off with the bounce back loan which would give me some breathing room. My partner is worried that…
Adverse Accounts Recovery?
Hey, Long story short: I run bricks and mortar gym, we were adversely affected by the lockdown at the start of the year. Although we received some support, our overhead stayed the same and our revenue suffered and it was my wage that had to drop to compensate. As a result, I missed some payments and my credit score is now…
Vanquis removing account and adding new account with same account number
I have checked my credit file with CreditScore which shows the changes in the upcoming monthly report are Vanquis removing the account ending in 1234, and a further notification indicating Vanquis are adding a new account ending in 1234, the same account number. I am confused as to why Vanquis would remove an account and…
Affordability very weak - MSE Credit Club
I'm a bit confused about the affordability section on my credit club report. Affordability is coming up as "very weak", but everything else on the report is good. Including my credit score which is 999! I've read the information on how they calculate affordability and it still makes no sense. I have nothing on any credit…
Credit card closure
Can can a credit card lender close you account when you haven’t missed any payments, pay more than the minimum monthly amount and haven’t taken a payment holiday in the pandemic? I received one of those letters in March just as lockdown was about to start to say basically that I wasn’t paying off my card balance quickly…
AR MARKER ON CREDIT FILE
wonder if anyone can give me some advise please? I recently signed up to check my file website and had the shock of my life. It's made me I'll with worry all the threads I have been reading about Ar markers on credit file. I was hoping to apply for a mortgage in the near future now I believe I will never have a chance of…
Employer withholding wages
I get paid a month in arrears , I have just put my invoice in and my employer is with holding my wages ! ( I know longer work for him ) I had two accidents in my van both not my fault ! And have paid a retainer off £100 per month for the van insurance! The accidents he has paid direct cash to pay for the damage !!! And now…
Offered 10% early settlement
I have £7500 in DMP with stepchange. Being in car sales my wages are 30% down. I have wrote to PRA group, Cabot, Wescott and offered 10% to my debts to settle early or i will stop paying them i simply cannot afford them anymore. Lets see what happens i have had the debts for 6 years.
Argos card paid 2 days late.... credit score dropped!
Hello, hoping someone might be able to put my mind at ease. I have an Argos card which I took out to pay for a large appliance on 0% over 6 months. Never missed a payment before but stupidly last month I took my eye off the ball and suddenly remembered I had not paid my bill so paid it 2 days late. I phoned Argos customer…
Declined Mortgage in Principle
Hi, i have a mortgage that runs out in February, my credit rating is half decent 940/999 from the credit club on here. i have a loan that i am wanting to put onto my mortgage to totally solve my money problems, but in July/August HSBC failed to take the money from my account which i didnt realise with me working non-stop…
Electrol
Hi. My credit report for the last year has not had me showing up on my electrol so I put a dispute in to get it changed .. today my case got resolved and credit report got updated saying I’ve been on the electrol for a year .. how ever my credit score has now dropped by nearly 100 points . Why would this happen I thought…
Lost wallet
I recently lost my wallet which contained all bank cards and my driving licence. I have cancelled everything so no money has been lost but I'm really concerned about ID fraud, and how this could affect my credit rating if the cards fell into the wrong hands. Is there anything I can do to avoid this? I've had to pay to…
Would you pay?
So backstorySo I have 1 defaulted account with Virgin media (was a mobile account), defaulted in 2018 but account was taken out in 2012 payments were stopped in 2012/2013. Second Virgin account hasn't been defaulted, taken out end of 2011, they just keep reporting 6 months late. Ive written and requested a copy for both…
Very strange situation with cifas help needed
OK so first off thanks anyone with trying to help me with this extremely strange situation that I find myself in. Its confusing and I don't understand it. I'm hoping someone here will be able to explain or help me. So a few months ago my wife took out a credit card with a high street bank. Her credit rating as far as we…
Right to Buy Mortgage age issue
I’m 64 and on disability benefits my Son aged 22 and myself have been accepted to buy, we need £29,000 Mortgage ( which would be approx £70 week less than our rent ) my sons income is good, excellent credit score can the mortgage be in my Sons name for income purposes and mine as a non payer due to my age being an issue.…

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MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

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