Credit Rating: How it works and How to improve it discussion area

JimmyTheWig

ceonuse wrote: »

the issue is being resolved after hours of phone calls and complaining. But i would like to ask if anyone knows whether i can claim any compensation in the small claims court against the above companies for the huge economic trouble they have caused us.

You can certainly ask for a goodwill gesture for your expense and inconvenience. For example, they should definitely be giving you something to cover the cost and time of your phonecalls.
But what you really want to claim for is the £170 a month interest, I presume.
I think you'll struggle to get this. I doubt you'll be able to prove that your mum would have got the 0% deal if it wasn't for this black mark. Companies don't, and don't have to, reveal their lending criteria so it would be a difficult call to say that she actually lost out because of this mistake.

I would definitely say ask for something. And obviously mention the interest it has cost. But I think you'll be lucky to get more than, say, £20 out of them. And if you get this sort of figure I'd accept it rather than try through the courts for more.
I think your time would be better spent in helping your mum get a 0% deal (once the black mark is removed) and helping her reduce her outstanding balance. That is a large debt that she's got and I doubt she'll be able to clear it within the timeframe of a single 0% deal, so the more she can pay off the better.

toolyfantastico

I am currently paying off a credit card through a Debt Recovery department. The Bank have just sent me a letter offering to reduce my debt if I pay 71% of the remainder due. I called them and asked what this would do to my credit rating, which is fragile to say the least! They told me that it would be marked as a “partially satisfied” debt but that they would make a note that they were “happy with the payment and would not be looking for further payment from me”.
I told them I would rather pay the debt off in full than have a partial payment against my name. They said it might look better on my account if the debt was paid quicker, even though it wasn’t for the full amount.
I’m really not sure what my best option is, as much as I want the debt cleared I am trying to improve my credit rating as well.

Any advice would be welcome!! I'm very new to all this!

Nonshy

Hi, wonder if someone would be able to answer this question....

Whilst at Uni I lived in a flat with two guys... myself and my other flat mate paid our share of the bills where as he ignored them and went to Dubai... he has paid them now... one got to debt collection agency stage and the other was still with Npower.

Will this show on my credit score as I don't know how they will register it was physically me who didn't pay as when I apply for any credit/mortgage I use my home address where I have been registered for 18 years?

How would they know that it was me at that particular property who didn't pay for a bill at another property? What methods do they have to link the two?

Thanks

walshy.walsh

Nonshy wrote: »

Hi, wonder if someone would be able to answer this question....

Whilst at Uni I lived in a flat with two guys... myself and my other flat mate paid our share of the bills where as he ignored them and went to Dubai... he has paid them now... one got to debt collection agency stage and the other was still with Npower.

Will this show on my credit score as I don't know how they will register it was physically me who didn't pay as when I apply for any credit/mortgage I use my home address where I have been registered for 18 years?

How would they know that it was me at that particular property who didn't pay for a bill at another property? What methods do they have to link the two?

Thanks

would of thought that whoevers name was on the account would be liable!

Nonshy

but how they know it was me when they credit check? how do they link myself to that address?

d00fus

Hi all,

For about 18 months I've had a Nationwide FlexAccount with a cash card only. I recently requested an upgrade to a debit card but was refused, and the guy I spoke to said the system didn't indicate why but to check my credit report with Experian. I did that, and I get an 883 score which is in the top 30% of people, perfect credit report (£0 debts, 0 missed payments), and the summary says "no negative factors affecting my score", so I don't really understand why they are refusing me.

I have a feeling maybe it's because I've only lived in the UK for about 2.5 years (originally from New Zealand) and thus can't provide UK addresses beyond this time. Experian's system even gets slightly confused by this for some reason.

On his screen the system basically came back very quickly with a negative so I think it's just hitting this address problem and straight away stopping, which I think is pretty unfair given that I'm on the electoral roll here (apparently I'm allowed!), my actual credit history is spotless, and I have no intention of leaving in the foreseeable future.

Do you think I'm likely to get any joy by writing to them directly and querying this? Asking in the branch is pretty much a brick wall, they just say they don't know what the reason is

Thanks,
James

JonBetts2004

hi all, I cannot be put on the electoral role at my current address as I live with my girlfriend and her dad, and his mortgage doesn't allow anyone who isn't a family member to be put on the role. I have been rejected for phone contracts by orange, o2, t-mobile AND three, I take it this is probably the reason, plus I don't really have a credit history. What is the best way to build up a history? Get a credit card and spend a bit on it each month, but pay it off in full? If so, with the amount of cards out there, how do I know which to choose?

thanks

Moggles_2

JonBetts2004 wrote: »

I cannot be put on the electoral role at my current address as I live with my girlfriend and her dad and his mortgage doesn't allow anyone who isn't a family member to be put on the role. I have been rejected for phone contracts by orange, o2, t-mobile AND three, I take it this is probably the reason, plus I don't really have a credit history. What is the best way to build up a history? Get a credit card and spend a bit on it each month, but pay it off in full?

Your electoral status has nothing to do with the mortgage provider. Householders are under a legal obligation to complete electoral registration details of those living with them.

Unfortunately, the fact that you're not registered on the electoral roll at a fixed address is a major obstacle. I think you'll struggle to get credit unless you tackle this first.

JonBetts2004

Moggles wrote: »

Your electoral status has nothing to do with the mortgage provider. Householders are under a legal obligation to complete electoral registration details of those living with them.

Unfortunately, the fact that you're not registered on the electoral roll at a fixed address is a major obstacle. I think you'll struggle to get credit unless you tackle this first.

Thanks for the response. I should have been clearer: my girlfriend's dad is not allowed to rent any part of the house due to an agreement in the mortgage. They apparently check the electoral roll every couple of years to check that this is not happening. If they see someone has been added that isn't a family member (such as me), they will ask my girlfriend's dad to kick me out. This is due to something to do with the fact that if he defaults on the mortgage and they take control of the house, then someone in my position could claim that I would be homeless if this happened and sue them.

The annoying thing is, I am not renting the house from him, merely cohabiting with my girlfriend and her dad, yet I do not want to register on the electoral roll from fear of them checking it and getting in touch.

What can I do? Register on the electoral roll and pray?! Thanks in advance

JonBetts2004

P.S. I am on the electoral roll at my mother's address (where I just moved from). I take it, it is better to be on the roll there rather than not on it at all?