How Do I get 'debt' markers removed from my credit profile?

fullofhope

Hi, please can anyone help me.

My partner and I are trying to purchasing our first home and have come across a problem with trying to get a mortgage. The lender we would like to use has advised us that on one of our credit reports shows a missed payment to a loan or similar. Neither of us can think of anything recent, but there may be something from a couple of years ago. Someone told me that there is a website you can contact where for £1 each they will help you to get any 'bad' markers removed from your credit report. Does anyone know where I can get this help? We want to get what ever is there removed so we can buy our dream home.

Thanks

Snaggles

Hiya - I'm pretty certain that the website must be a con - you can't pay to improve your credit file. The best thing to do would be to get hold of a copy of your file and have a look to see exactly what's on there.

There are 3 credit reference agencies - Equifax, Experian and Call Credit. I've only used the first two, and you can pay £2 for a basic copy of your file (don't bother paying extra to find out your 'score' because lenders use their own scoring criteria anyway).

There may be ways to get your report free, by taking out a months free trial etc - but I'm not sure - someone will hopefully be able to advise you of that.

Once you know what's on there, you will know how long you're likely to have to wait for it to drop off (a default stays on there 6 years, whereas I *think* only the last 3 years payment history shows on there, so a single missed payment disappears more quickly).

Sorry I can't be more help, I'm not an expert - but please don't pay anyone any money to improve your credit rating. There's nothing they can do that you can't do yourself - and if you could pay £1 to get something removed, the credit reference agencies would be so open to fraud they might as well not exist.

Different mortgage companies use different criteria too - I'm a mortgage underwriter, and if everything else was squeaky clean and affordable, I wouldn't necessarily decline an application because of one missed payment. So don't give up hope.