Hello! First post with lots of questions I'm afraid :/

Sarah-Louise_2

Hello everyone

I'm in serious debt, how serious I don't know, I just know that for years I've been refused credit, even for a current bank account, I'm only allowed savings accounts. I've had the very rare lucky pot with 3 home shopping catalogues, but that's it.
My last attempt at credit was 3 weeks ago, for a Capital One credit card which was ofcourse refused.

As I haven't had any credit for years I can't understand why my record is so bad.
Admittedly, and I'm ashamed to admit this, the 3 catalogues did all fall behind, but they are being paid off now via debt collection agencies, but my bad credit problems were like this years before I got the catalogues so it's not just them.

I not even sure where to start to find out who and how much I owe.

I'm sick of not being able to get any form of credit, I don't want it to run up bills with, or to go on mad clothes shopping spree's, I just want some sort of back-up incase I need it for something (car breaking down for example)

Plus, I'm 28, fast approaching 29 and I'd like to get on the property ladder, btu I just don't stand a chance with my current situation.

So where do I start? How do I find out who and how much I owe, and wher do I go from there?

Thanks in advance for any advice, it's my new years resolution to get out of this hole and I want to do this so much!

Sarah-Lou

mr_fishbulb

Sarah-Louise wrote:

How do I find out who and how much I owe, and wher do I go from there?

Well I think I remember lending you a fiver

Do you not have any bills or demands of payments? If you owed someone money, I'm sure they'd tell you about it.

Lucie_2

Sarah-Lou
You need to get your hands on a copy of your credit record. You can do it online with various companies - I'm sure someone will be along soon to tell you where to get it from. I think there is a small charge (£2 or so?) but it will give you a start point.
Don't you have any correspondence from any of the companies you have run up debts with? You need to get organised & get yourself a filing system.
There are lots of reasons why you get a bad credit rating - moving house frequently, changing your bank account & not being on the electoral register are just a few. Having a credit card can actually help your credit rating, as long as you use it well & pay it off regularly, as it demonstrates you can "cope with the responsibility" if you like! It's when you get a bit of credit (as you have done with your catalogue debts) & default on the repayments that things go wrong.
Good luck with sorting it out - burying your head in the sand & hoping it goes away definately does not work. Well done for facing up to it - you will feel much more in control when you have a handle on your debts.

ryanjbow

Yes, i agree. You must get a copy of your credit.

Sometimes you can get this at your bank when applying for a checking account.

Also, any time you are turned down for a credit card you get one of those denial letters in the mail. Usually, at the bottom, it says you are entitled to a free credit report because you were declined. You just need to follow the instructions. This is a new law and may only be in the US so I'm not sure. Good luck

johannamse

See here from Martin...

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1101485056,23650,

EXCERPT:

First check they’ve got the correct info on you

Most information used to credit score is held by the three credit reference agencies: Equifax, Experian and CallCredit. As we’re talking billions of pieces of data, there are certain to be mistakes, so it’s important to check that they’re accurate.

The Consumer Credit Act 1974 gives you a statutory right to see your credit reference files by simply writing to them, with a £2 cheque, and detailing your past addresses.

Experian. Experian Consumer Help Service, PO Box 8000, Nottingham, NG80 7WF
Equifax. Equifax PLC, Credit File Advice Centre, PO Box 1140, Bradford, BD1 5US
CallCredit. Callcredit plc, Consumer Services Team, PO Box 491, Leeds, LS3 1WZ

How to get your £2 statutory report


Here are template letter to use for sending to each of the agencies. Don’t forget to enclose a cheque or postal order for £2 made payable to either Equifax Plc, Experian Ltd or Callcredit Plc.

Equifax, Experian, Callcredit.

If you have recently moved home, it’s a good idea to enclose two separate forms of identification at your new address with your application, as sometimes they will have trouble locating you.

Alternatively, you can either download the postal application forms from the individual websites, or (for Equifax and Experian) use the online order systems.

IMPORTANT! Don’t pay more than statutory £2. These site’s will try to flog you more advanced credit reports, but see later for how to get those free.

It really is worth checking your file with at least the big two agencies, Equifax and Experian, every 18 months or so (it doesn’t impact your credit score) as bad data on you can cause many problems and it’s far better to catch it before you make any applications

HLK

Did you sign a consumer credit agreement with the catalogues.. ? If you aren't sure, ask the companies for a copy. I believe they can't force you to repay if you didn't.

Gather together all your correspondence , including any unopened letters - open them of course - put it all in date order and try and make a list of the comnpanies chasing you. This would be a good start and then post your findings on here.. minus any personal information.

Well done for deciding to get a handle on your situation - there are literally hordes of people on here wantint to help.

Sarah-Louise_2

Hi again

Thank you all so far for your replies!

I'll be sending off for my credit records tomorrow to see what's going on, it will take a little time though as I have to send a postal order as I don't have any cheque books or credit cards or anything.

I'll let you know once I recieve them and I'll then list what I owe

I don't get any demanding letters at all, the only ones I've had have been from the catalogue companies which are all being dealt with and being paid off on a weekly basis, so you can see why I'm so confused about all of this

I did have some bad debt when my daughter's father left me, but that was 9 years ago now, and someone told me debts get wiped off your record after 6 years?

Maybe they are still there, I have no idea until I get my records back...I'll keep you all updated, and thanks again to those that have replied

Sarah-Lou