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Credit Rating: How it works and How to improve it discussion area
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Hi all,
My credit file does not show that I was on the electoral roll for my previous address, how can I rectify that?I was registered on the electoral on my previous address. I know this effect my credit rating.0 -
She has a perfect credit score but is unable to get credit, I think that this is because I have defaults on my file and because she is associated with me due to this loan it is affecting her to. Barclays are sending out a form so that we can apply to remove her name but the loan but the lady I spoke to more or less told me not to hold my breath. What do you think?[/quote]
Just checked my credit file and it shows up that when she has been searched for credit they have also searched me at the same time because she is associated with me so in answer to my own question yes my bad credit file is affecting my girlfriend's credit.0 -
I can help you on a couple of your questions i think but I'm in no way an expert.
1- I have a default which is dated the 28/02/2003 - when will this be removed from my account? and will it be removed all together or will it still show.
Defaults are fully removed after 6 years whether they are satisfied or not. You will still owe the money to the creditors though. You will have to check elswhere on this site as to whether they are still allowed to chase you for the debt.
2- I had a trust deed until Jan this year, now finished, Letter to support that. Now there is another company who has also palced a default on my account. Will this remain for the full 6yrs or will it be removed as the account is now cleared due to trust deed being complete
You have to write to the creditor to have it removed. Not sure if they are legally bound to or not. I would also write to the Credit ref agency too.
3- When you view the account - Under Account information - It lists any creditors - Now 3 out of 5 say Satisfactory and when I go in to show details they say green 0 - I assume this is all good?
Satisfactory means just that. 0 means that all payments are up to date.
Hope this helps.0 -
Hi all,
Me and my OH are looking to get a mortgage.
I am out of debt with a good credit report (never missed a payment or made one late).
I have just checked OH's credit report with Credit Expert and its blank, no records on it, now he hasn't had any credit since we have been together but was expecting maybe some nasty things to be on it (glad they are not).
He is awaiting a decision for a Vanquis credit card to start building his credit rating up, any thing else we can do as well?
I am also surprised to see his current account wasn't on there but it is on mine? Is it dependent on banks?
As I have a good credit rating is it worth linking him to me?Now a SAHM trying to earn some spare pennies each month0 -
Hi can anyone advise please, my hubby has a default on his credit file for loan his brother took out in his namethen defaulted on. His brother set up arragement to pay and has paid agreed amount since. This default originally went on in 2002 are we right to think it should come off his credit file in 2010? or is this not the case as the account is still in default?
An account ‘in default’ is one where you have not been able to keep to the terms of a credit agreement. We keep a record of these accounts for six years from the date the lender decided you had broken the terms of the agreement. The lender will have told you that the account was to be classed as being in default.
The details about that account will show how much money you owed when the agreement was broken and how much money you now owe. It will reflect any payments you have made to the organisation since the agreement was broken. When the account is paid in full, the information will be updated to read ‘Balance Satisfied’.
www.experian.co.uk/downloads/consumer/creditFileExplainedJuly07.pdf (bottom of page 9)
This is what has confused me as it says we keep 4 six years and then says account will show as settled however it wont be settled at 6ys so what will show on credit file?
Thankyou anyone.0 -
hi all
I have similar question to the above poster, my cousin been refused credit, and I helped him check his credit file. he was shocked to learn there is default in his account for a mobile phone which he got for his brother a while back. Now the bill is for £180 unsettled, the debt since 2002 but default notice was registered 2006. now what are his options?? is there anyway removing this? he obviously prepared to pay0 -
purple-pear wrote: »Hi can anyone advise please, my hubby has a default on his credit file for loan his brother took out in his namethen defaulted on. His brother set up arragement to pay and has paid agreed amount since. This default originally went on in 2002 are we right to think it should come off his credit file in 2010? or is this not the case as the account is still in default?
An account ‘in default’ is one where you have not been able to keep to the terms of a credit agreement. We keep a record of these accounts for six years from the date the lender decided you had broken the terms of the agreement. The lender will have told you that the account was to be classed as being in default.
Thankyou anyone.
was the default registered 2002?? if so then it should be there for 6yrs even if it is not paid. Iam sure others will confirm this.0 -
Yes it was registered in 2002, also if someone has a settled default is this still frowned upon by lenders?0
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purple-pear wrote: »Hi can anyone advise please, my hubby has a default on his credit file for loan his brother took out in his namethen defaulted on. His brother set up arragement to pay and has paid agreed amount since. This default originally went on in 2002 are we right to think it should come off his credit file in 2010? or is this not the case as the account is still in default?
An account ‘in default’ is one where you have not been able to keep to the terms of a credit agreement. We keep a record of these accounts for six years from the date the lender decided you had broken the terms of the agreement. The lender will have told you that the account was to be classed as being in default.
The details about that account will show how much money you owed when the agreement was broken and how much money you now owe. It will reflect any payments you have made to the organisation since the agreement was broken. When the account is paid in full, the information will be updated to read ‘Balance Satisfied’.
www.experian.co.uk/downloads/consumer/creditFileExplainedJuly07.pdf (bottom of page 9)
This is what has confused me as it says we keep 4 six years and then says account will show as settled however it wont be settled at 6ys so what will show on credit file?
Thankyou anyone.
The account should be off his file now, defaults are removed from files six years from date of default whether settled or not.0 -
I took out my first mortgage 17 months ago, and my fixed rate is ending shortly. I applied to another mortgage lender, through a broker, and was told that I was declined due to my credit rating. Having checked my rating with one of the credit agencies, I was told my rating is only 'fair' on account of my only being on the electoral roll (at my current address) for less than two years?!
All the other information (whether I have missed payments on anything etc. are excellent) - it is clearly impossibly for me to have been on the electoral roll for 3 years, since I have not been in my home that long?!
Has anyone else had a similar experience? what on earth can I do?0
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