Sub Prime Credit Thread Part III

noah271007

Parki wrote: »

I have a vision! It will clear up in the morning and Aqua and Capital one will approve me.

what nasties do u have on your credit files? You ought to smoke the adverse info out by any means!

Brian1966

Evening all
On my 7th statement with Vanquis, made 6 payments, 5 in full, left a balance of £45 last month.
My limit has increased from £500 to £1250 :beer:

noah271007

I used to be subprime. A year ago, I had a default as well over 40 missed payments from various accounts. Guess what, all of them have been erased and deleted through sheer determination and tons of letters! I have an almost spotless credit file except for 1 late payment!
If it can happen to me, it can happen to you lot!

Parki_2

I have 3 defaults. 2 which are to be removed in Feb and May next year and one which will come off my credit report this month. I also have a DMP note on one of them but that is getting removed also. It has a note on it telling them to ignore this as its innacurate as all my debts have been paid off.

Am I likely to have a chance to get either of these cards?

noah271007

Brian1966 wrote: »

Evening all
On my 7th statement with Vanquis, made 6 payments, 5 in full, left a balance of £45 last month.
My limit has increased from £500 to £1250 :beer:

Well done, you must be feeling much happier now you got a decent credit limit. I always see £500 credit limit as a little tad low. Now that is reporting to CRA's with the increase credit limit, it should help with the overall score when accessing available credit.

Parki_2

Noah. I admire your determination. I might phone up and see about mine. I dont agree with the dates as they are after I went on my DMP. I dont have the original default letters but think the last 2 should have been at least 6 months earlier.

noah271007

Parki wrote: »

I have 3 defaults. 2 which are to be removed in Feb and May next year and one which will come off my credit report this month. I also have a DMP note on one of them but that is getting removed also. It has a note on it telling them to ignore this as its innacurate as all my debts have been paid off.

Am I likely to have a chance to get either of these cards?

Well, you haven't got long before all the defaults drop off your file! I reckon Vanguis is best bet to apply. Capital One i think are a bit more strict in their criteria than they were a year ago. Have you applied for both of them yet?

I just discovered today that if you get defaulted in Scotland, it is for 5 years! In England and Wales its 6 years! Talk about injustice eh?

Innocent_Guy

Parki wrote: »

Ive applied for Aqua and Capital One so will wait and see how I get on for them. Fingers crossed.

What message did aqua give?

I did the old trick of calling there customer service and saying I've just made an app and not sure if its been submitted properly. They then said yes Mr Innocent, got the app however you are declined LOL

Innocent_Guy

Parki wrote: »

I have 3 defaults. 2 which are to be removed in Feb and May next year and one which will come off my credit report this month. I also have a DMP note on one of them but that is getting removed also. It has a note on it telling them to ignore this as its innacurate as all my debts have been paid off.

Am I likely to have a chance to get either of these cards?

DMP will make it auto refrrer to underwriters so you will have to wait for them to assess it!

noah271007

Parki wrote: »

Noah. I admire your determination. I might phone up and see about mine. I dont agree with the dates as they are after I went on my DMP. I dont have the original default letters but think the last 2 should have been at least 6 months earlier.

I encourage you to do everything you can to get your credit files as best they possibly get. Have you written to the lenders who placed the defaults? If they are all satisfied, it is very possible they can remove it earlier. There is no statute or law to say defaults must remain on credit files for 6 years. It can be removed anytime. If they refuse to amend the file, take legal action based on DPA Act 1998. They will see that your defaults has been on files for most of the 6 years and are more likely to agree to remove rather than defend through the court.