Credit Rating back on track?

yorkshire-lad

hope everyone is well on this wednesday morning:beer:

well some on you people will know from my other thread,that im around £13500 in debt, quite alot for a 21 yearold:eek:.

I had my LBM about 2 week ago, been looking for things to sell on ebay, im going to get cracking with Matched Betting (did this for about a month recently and made around £350ish).

i have sat down and worked it out that i will be debt free by 31st Dec 2011, if all goes well

My credit rating is quite poor at the moment,i have had two late payments both on my CC and AA loan, but never missed any. i had missed around 2 payments on a old phone which was in my name but mum was paying bill[this was around 2years ago].

now im back on track with my finances, there is no chance of me missing any more payments or me applying for more credit.

how long do these bad marks stop on?

it may seem like a pointless post, but im starting to look more towards to the future ie a mortgage, ive already started saving a little:T

and thinkng about things like this, the happy things in life, takes my mind off the other problems like the debt.

sorry for the ramble, just get carried away sometimes lol.

Thanks
Ryan

Dinah93

Congratulations on facing your debts and posting on here. I found this place is amazing for keeping you motivated, and I cleared over £16k of largely student-accumulated debt in under a year.

Unfortunately I don't know how long lenders look at your late payments as negative for, I do know things only stay on your record for six years, but I would be quite suprised if two late payments had a significantly detrimental impact on your credit rating.

yorkshire-lad

i totaly forgot about joining up to experian and keeping an eye it:rolleyes:

think in the past ive been to scared to look at it and see how bad it is, but ive faced up to my debts so this shouldnt be a problem anymore:).

think i will have a read when i get home from work,suppose its the same as my debts, it will take time to get back on track but least im heading in the right direction:j

Chick2organise

Funny enough I was speaking to my friend about credit rating the other day as i have the same queries! She also said 6 years its on your credit file for and i was wondering does it mean each year ive been a bad girl, will it take that year off when it hits the 6th year but she said it starts fresh on the 6th year.

If you do not miss any payments, make late payments, make sure your on the electoral roll and dont get any more credit, cancel any cards you dont use and dont do any searches for new credit, i think it takes about 6 months to see an improvement!!!!

Good luck!!

angelicmary85

Hi Ryan,

Have you bought your just for men yet?!

yorkshire-lad

thanks for that Chick2organise, think i will check it out now and just keep having a look every 6 month.

Angelicmary- i thought you was going to buy some and test it out for me:p

angelicmary85

I don't need it...given that I don't have any 'silver'...

My hairdresser was lying