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

BugsyBrowne

Karen40 wrote: »

Hi guys
Having just checked my credit report I have a couple of defaults from 2007 but they still have balances outstanding. Being very new to looking at that report do these defaults stay on my file until they are settled? So default 2007 but not paid? So if I then settled in next year say would this then stay on 6yrs after settled? Or is it 6 yrs from default date?
Thank you

6 years from when the default was issued settled or not.

Karen40_2

Thank you that's massive help couple will drop off early next year then. Thank you for your help

sariebeth

Hi, has anyone used privacy guard rather than experian/equifax? Just wondered if it showed you info from all of the CRA's?

cheers x

RPenaluna

Hi

I hope someone can help me

I had a credit card which has since passed over to Moorcroft. The default date on my credit file is November 2006, status open.

I have been paying Moorcroft £27 a month for about 2 years and each month the balance on the outstanding amount is updated on my credit file but nothing else to say that i am making payments, it is still marked as a default from November 2006.

It says Reported until: November 2012.

So my question is this...

Will this be removed from my credit report in November automatically or will this remain on there until I finish all my payments (£1,258 outstanding).

I am unsure whether to offer them a 50% settlement figure as I wish to improve my credit score and if they agree would hope they would mark it as default settled or what ever it is they mark it as or would i be better paying the £27 a month if it is meant to come off in November 2012 anyway.

Any help is much appreciated thank you x

Tixy

RPenula

It will come off your file automatically in November 12 - regardless of whether full paid at that point or not (though of course you would still need to pay the remainder).

If you offer a reduced settlement which they accept they will probably only agree to mark it as partially satisfied (but with no balance outstanding).

maver1nk

Hello! I recently checked my credit report for free and it showed, as I knew, that I have never missed a payment for anyof the 10 credit cards I've had over the last 10 years, or that I have ever been late for any payment that credit ratings agencies check.

I have recently moved twice in the last year (3 months in one flat and 9 in the repsent), didn't change my electoral role for the first flat, but am on it in the present. I recently applied for two credit cards and was refused, and couldn't believe it as I'm in full time permanent employment and have no debt or any adverse debt history at all. Can an expert tell me what I can do about this and also if it will likely affect a mortgage application in 4 years' time??!!

glennc1981

I checked out my Experian credit report, and I have a score of 675 which is Poor.

I have three bank accounts which are used regularly (my chief account being NatWest). I don't have any overdrafts and all of them show green 0's due to staying in credit and never letting any payments bounce.

I have a Capital One Classic card with a £500 credit limit, although recently I have used it to a balance of £450 without paying it in full back. I've never been over my limit nor have I missed a payment too.

I was just wondering if anyone can give me any advice on increasing my score. I'm gonna concentrate on getting my Capital One balance down because it showed the ratio of credit to available balance as a negative. I wonder if the fact that my main account (NatWest) is only a year old. My other accounts are with Santander (had for three years but only have a football season ticket direct debit going through it - should I close it?) and NatWest (again, Basic account with two DDs going through it). I don't have any CCJs, defaults or late payments. Just a crap credit score.

Hazzinho

Don't worry about the score, just ensure everything is accurate and you make payments on time. Ensure you are on the electoral roll this is really important.

BugsyBrowne

glennc1981 wrote: »

I checked out my Experian credit report, and I have a score of 675 which is Poor.

I have three bank accounts which are used regularly (my chief account being NatWest). I don't have any overdrafts and all of them show green 0's due to staying in credit and never letting any payments bounce.

I have a Capital One Classic card with a £500 credit limit, although recently I have used it to a balance of £450 without paying it in full back. I've never been over my limit nor have I missed a payment too.

I was just wondering if anyone can give me any advice on increasing my score. I'm gonna concentrate on getting my Capital One balance down because it showed the ratio of credit to available balance as a negative. I wonder if the fact that my main account (NatWest) is only a year old. My other accounts are with Santander (had for three years but only have a football season ticket direct debit going through it - should I close it?) and NatWest (again, Basic account with two DDs going through it). I don't have any CCJs, defaults or late payments. Just a crap credit score.

Just keep up with payments etc and check your credit report, a credit score is private only to lenders and not available on request so you won't ever find out your credit score.

glennc1981

I assume the age of my bank account is a factor too so hopefully things will improve in due course. Thanks for the advice.