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Debts incurred using my address
I was widowed during lockdown and my husband's brother travelled from overseas to attend his funeral. He stayed for a couple of weeks in my house. I have received several letters from a bank informing me of an overdraft in excess of £10k and a credit card (again in excess of £10k) I opened the letters as they appeared to…
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Do lenders see total credit and spent ratio?
Not sure if this is obvious, but say: I have one card with a £2k limit. I have a second card with a £2k limit. I spend £3k across the cards on a holiday, so I'm utilising 75% of my available credit. If credit card one gives me a credit limit increase to £4k, then I'm utilising 50% of my available credit limit. Say i want…
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Frasers + have notified a bad debt on an account we didn't open.
So my wife got a letter out of the blue a few months ago saying she was overdue a payment on her Fraser's Plus card, and if she didn't pay it they would notify a debt collection agency and notify her as a bad debtor. The thing is, she has never opened a Fraser's Plus account. Assuming it to be a straight forward error, she…
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Default Applied Date
Hello All, Newbie here looking for advice... I have an old outstanding loan that was taken out in 2016 with Ratesetter, during 2017 i hit financial difficulty and was unable to continue making payments, My last full payment was made Dec 16... After little communication I received a default notice from Ratesetter in July…
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Raising credit rating for vehicle finance
I'm going to be needing a new van for work shortly ideally euro 6 as we have a low emissions zone near us. These vans are around £12k however other than zuto at 40% Apr no one will touch me. Am I whistling in the wind I've an old ccj from over 2 years ago which I satisfied 3 months ago and a default from 3 years ago. I…
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Should I dispute
Hi so a while ago (over a year) I voluntarily handed a car back to the finance company they have not sent any more info in that time I then got notice of a fine for no tax which I disputed and won several days later I got a letter stating that the collection company had sent the car back to the finance company issue I have…
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Missed payment
Hi I have been sorting out my debt but I have an old bank account which I was overdrawn on. I did pay the overdue amount, and it shows as zero balance but it still shows as a missed payment every month. i thought they are meant to report it once, but it’s a new missed payment every month. Is that right?? thanks
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Lowell Chasing small BT debt (possibly)
Asking for some help! Just received a letter in the post from Lowell - they say they have brought an outstanding BT debt and are encouraging me to pay it. There is an accompanying letter from BT confirming the same. Total amount "owed" is £ 25.00 so not a big deal in the overall scheme of things However, despite BT…
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Incorrect default - company now out of business
Good afternoon, In August of 2018 I bought a household product through Perfect Homes. I fully paid off with monthly payments. I bought two more products in the following 3 and a bit years. I just had an alert and suddenly a default is showing for the August 2018 purchase and due to go off in December of this year. The…
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How long do loans stay on report?
Hi. I'm planning to apply for a mortgage in the next few years. I understand that accounts stay on your report for 6 (?) years. Is this 6 years since the account was opened, or 6 years from the last payment/account closure? I'd like the loans to be visible when I apply for the mortgage, so they can evidence good payment…
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Help please with notice of disassociation
After a relationship break-up I am following the advice to ask the credit reference agencies to place a notice of disassociation on my credit files. Experian was very easy and I just had to complete an online form. However, I can't find where or how I can do this with Equifax and TransUnion. Could anyone point me in the…
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Building my Credit Rating after paying off a DMP
Hi My local Skoda dealer offer interest free payments on service and repairs. I have booked my car in to have the breaks done on the 14 Feb. Do you think it would be worth applying for the interest free option. payable over 4 months? Could this have a positive impact on my Credit file? I am just trying to get back to…
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Credit rating etc
Hi I got myself in a financial mess 5 years ago, I have negotiated paying my debts. I am working hard to improve my credit rating and have a couple of credit cards now that I make sure are paid on time etc. Will the debts that I got 5 years impact on my credit rating until they are paid off etc, or do they 'fall' off the…
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Incorrect credit file entry vs O2 vs Mortgage
I am a first time buyer and in the process of applying for a mortgage via a broker. I was asked today to provide my credit file/report which was done and it showed all the information Experian, Equifax and Transunion have for me. It was brought to my attention that I have a loan with O2 from 2019 and of which I have…
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Seeking Advice on Mortgage Possibilities While on a DMP
Hi everyone, I’m reaching out to see if anyone has been in a similar situation to mine or has advice to share. My family and I are struggling to navigate the challenges of securing a mortgage while I’m currently on a Debt Management Plan (DMP) which I was badly advised to take. Here’s a summary of my situation: *…
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Defaults and Debt Management Plan
If i have defaults from 2017 - which i assume should be removed from my credit file. I am currently paying by way of a DMP. Is it worth still paying or would it be unenforceable? Is it to down CCA route?
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PRA group's recording of debt on credit file
Hi all. Context: I became mentally unwell during Covid and was under psychiatric care. During this time, I stopped paying my Barclaycard (first time ever) and it snowballed as I wasn't able to deal with it. It was passed to the PRA group and once well, I made contact and set up an arrangement to pay. All has gone well and…
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Misspelled name on loan application
I applied for a personal loan but after clicking submit and sending identification with my name, realised that I had spelled my first name with a double letter in the middle. Think ‘charrlie’ instead of ‘Charlie’. i received an error message when submitting my ID and all I had was an error message, and a paragraph saying…
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Credit Utilization Ratio; >30%? As low as 10%?
What percentage of your credit card limit should you use to optimise your chances of credit in the future. Compare The Market et al suggest keeping your useage below 30%. But Experian suggest keeping it as low as 10%. I don't have much need for my cards at the moment so I tend to use my debit card. But I've been told it…
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Cabot new entry on credit file
Hello! I have recently been contacted by Cabot Financial who are chasing an old loan that had defaulted almost 6 years ago. The 6 year cool off is set to expire in a few months. They were sending letters and immediately calling me every single day so I contacted them to ask them to prove the debt just to get them off my…
