Sub Prime Credit Thread Part III

ElkyElky

I paid out £1000 this morning to clear 3 of my credit cards so I'm almost debt-free now.. but it wont remain like that for long. I'm trying to resist temptations of booking a holiday to China. :mad:

peelprincess

ElkyElky wrote: »

I paid out £1000 this morning to clear 3 of my credit cards so I'm almost debt-free now.. but it wont remain like that for long. I'm trying to resist temptations of booking a holiday to China. :mad:

That's brilliant though. I have just tried to apply for Vanquis and it said that they would give me a decision within 10-14 days. I really didn't realise things were that bad? :eek:

The defaults must have knocked my file hard.

seeya23

peelprincess wrote: »

That's brilliant though. I have just tried to apply for Vanquis and it said that they would give me a decision within 10-14 days. I really didn't realise things were that bad? :eek:

The defaults must have knocked my file hard.

i got the same and got a call the next day

ElkyElky

peelprincess wrote: »

That's brilliant though. I have just tried to apply for Vanquis and it said that they would give me a decision within 10-14 days. I really didn't realise things were that bad? :eek:

The defaults must have knocked my file hard.

Yeah, defaults cause substantial damage to your credit file and they stay on there for 6 years, unfortunately.

That's the standard response from Vanquis. Hopefully they'll accept you but if they don't, you could try Capital One. If you're accepted, it's probably best you clear the balance each month to avoid getting charged interest, especially with Vanquis' interest being really high.

fairmorn308

hiya guys

just been to visit a dream house we have been offered to rent but the agency wants to do a credit check on either myself or partner. My problem is i have paid everything but in the last year i have had a missed payment on littlewoods and next but both accounts are clear now and was only the once payment missed due to there mistake but they wont look at it like that.
The other one is Never-in-Doubt is helping me getting a defualt removed which is due to drop off in novmember which would make it 6 yrs but in scotland its only meant to be on for 5 years so i shouldnt even have it on my record.

Am off to see the agency 2mo so dont know what to say to them as dont want to loose this house due to capital one !!!! ups

never-in-doubt

peelprincess wrote: »

Hi everyone I am new to this thread and trying to get myself sorted out!!! Love all your banter and support for one another - think its brilliant!!

I have had a bit of turmoil in my finances and ended up defaulting on 2 accounts about 4 months ago (Natwest Credit Card - which I have about £300 still owing and am paying off £50 per month and Great Universal which has been paid in full). Obviously it has had a heavy impact on my credit rating.

I still have a Next Directory account which I had before my defaults and pay that off religiously, and have never missed a payment. Anyway, I tried to apply for an aqua card yesterday and got refused : (.

Forget Aqua, they are rubbish )Typical HBOS).... have you got your credit files? Regards to the defaults, have a read here and see if we can't get them taken away - that may help you get credit.....

http://forums.moneysavingexpert.com/showthread.html?t=1868507

Aqua may decline you because of the defaults, remember it is still underwritten by a main bank!

never-in-doubt

fairmorn308 wrote: »

hiya guys

just been to visit a dream house we have been offered to rent but the agency wants to do a credit check on either myself or partner. My problem is i have paid everything but in the last year i have had a missed payment on littlewoods and next but both accounts are clear now and was only the once payment missed due to there mistake but they wont look at it like that.
The other one is Never-in-Doubt is helping me getting a defualt removed which is due to drop off in novmember which would make it 6 yrs but in scotland its only meant to be on for 5 years so i shouldnt even have it on my record.

Am off to see the agency 2mo so dont know what to say to them as dont want to loose this house due to capital one !!!! ups

Don't worry about the default and late payment, one late payment has no effect and the default, you simply show them the letter you've sent off proving you're dealing with it......

They will not refuse you a property based on that mate, it is aimed at stopping bad payers of course and one missed payment does not mean you're a bad payer!

Its patterns of cifas/fraud/bad debt that they are looking for. My mate got a rented place through Halifax and they searched him - he has 1 default and 1 CCJ and used the excuse they were from a previous relationship and cos she spent on them he refused to pay out of principle.

he got the house.

Cash_Flow

fairmorn308 wrote: »

hiya guys

just been to visit a dream house we have been offered to rent but the agency wants to do a credit check on either myself or partner. My problem is i have paid everything but in the last year i have had a missed payment on littlewoods and next but both accounts are clear now and was only the once payment missed due to there mistake but they wont look at it like that.
The other one is Never-in-Doubt is helping me getting a defualt removed which is due to drop off in novmember which would make it 6 yrs but in scotland its only meant to be on for 5 years so i shouldnt even have it on my record.

Am off to see the agency 2mo so dont know what to say to them as dont want to loose this house due to capital one !!!! ups

Dont worry about it as based on my own experience they will only search public data records to find out if you have any CCJs.

The downside to this is they will charge you £100+ for the privilage.

never-in-doubt

Cash_Flow wrote: »

Dont worry about it as based on my own experience they will only search public data records to find out if you have any CCJs.

The downside to this is they will charge you £100+ for the privilage.

That makes sense, as I say my mate simply stated that he wasn't paying cos it wasn't his, even though he took the cards out they were for the ex. As he produced a copy of the letter he'd sent the lenders, they didn't bother too much at all.

He never had to pay though Ahh scrap that, he just told me he did pay! £100 plus VAT (VAT for what? - pressing a button wow!) :eek:

fairmorn308

yes they told us aswell £100 each person they search.

So should i take a copy of the letter i sent to cap one then? kinda nervious about going to the agency 2mo incase they dont accept us