Credit Report

wonder

Hi (First Post)

What a superb site and book!!!

Just need a bit of advice on the credit report i have recenltly had.

When i was 18 I stupidly got into debt with freemans catalogue and t-mobile, both accounts were passed to credit agencies and there i paid them off in full. It still seems to be having a detrimental on my credit score so i am having trouble getting credit and am having to pay high APRs on my current store cards.

Any advice.

Thanks alot,

Craig

Bestthingsinlifearefree

Hi craig,

welcome to the site. Why not post a statement of affairs ie your income and out goings (e.g rent / loans / debts / car etc)

Then people can advise you.

Are you on the electoral register where you live ? (this can help your credit rating).

Why do you want to get / take out more credit / DEBT ?

Are you living beyond your income etc etc.

You have come to the right place for sound, free finacial advice.

wonder

Thankfully ( by way of this site) ive managed to take control of my finances.

Im now at the point where i want to hit back. Im paying off 2 store cards (£2600) as much as i can spare each month (normally £100).

I just hate the thought of how much interest im paying and have tried to get a lower rate loan as an easier method, thats where my credit score comes in.

According to one lender im on the "lowest rung of the ladder", which is quite scary considering im looking at getting a mortgage in the near future. I seemed to being punished for a few teenage mistakes that im still paying for and would like to correct my credit score as much as possible.

I have recenlty joined the electoral roll.

Thanks for your message :-)

Peachy_2

you know any default or bad credit in the past should only stay on your credit file for six years from the date of default.... You know what I did / am doing? Contacting the lenders and asking politely if they would "as an act of goodwill" remove the bad entry (when it is paid off of course) as it "is affecting my ability to get a mortgage and now, as I am in fulltime employment and with no oustanding debt or default would not like to suffer as a result of poor finances and silly mistakes from my past". I did this years ago - the only one that wouldn't remove it was Lloyds Bank - I wrote to them about six times asking politely - but it has gone now anyhow as six years is up. I now have a few other silly things on there which I HAVE managed to get removed - especially the smaller ones - NTL for example had TWO entries - one great and regular payments - one saying I had defaulted for £4 two years ago! - They removed it once I asked as the amount was so pathetic. I imagine there's a reason Martin doesn't write this in his book as I guess if word got out that some lenders DO remove things, it might make a mockery of the whole credit report and then no-one would do it etc - so I hope I haven't screwed it all up by posting this - and I hope it helps !!
Sarah