credit referance report..info please..

COOLTRIKERCHICK

i have just joined the 30 day free trial with experian, to get my credit report...not very good as i well know, but its all sold stuff...some debts been paid. other havent, but anyway spoke to a lovely lady on the phone who talked through the different accounts with me, and told me that by feb next year most of them will be knocked of anyway, due to the time factor, whether they were paid or not....the things that are left, which are the credit cards, i have set up a d.d. or st..so they get paid with out fail...

at the moment my credit score is officially classed as POOR.... so by next february when most of by baggage is cleared from the screen, what will happen then? will my credit score go up, so then i can take advantage of the 0 % bal transfers , as at the moment i have been declined , but it dosnt make sense as now yes i am struggling with the high interest rates charged on my cards...but everything is getting paid over the min payment..but when i got these credit cards first it was during and just after the blip in my financial life...

any advice...................thanks...........cooltrikerchick............

moozie_2

Someone more knowledgeable will be here any minute but imho, I don't think your credit score will move from poor to excellent overnight though!

If you keep making your payments in time and not go over your limits, you will build up a better score over time. Defaults stay on your account for 6 years.

Hope this helps but someone else will add more value I am sure.

COOLTRIKERCHICK

hi..ye i know that i am not going to have an financial halo over me, but i read and listen to martin about the credit tarts, and how to work the credit cards so you get cash back without giving the company interest...as at the moment using the snowball cal. i am paying over £75.00 per month interest on my credit cards alone...and even throwing every spare penny i have at them its going to take ages to pay them all off, plus my house is in such bad state of repair, for a start some of windows are wooden, and their so rotten that the glass has droped down in one of them, i was just trying to fingure out any way of paying less interest.. i did ask them to drop the interest as i was thinking of changing credit cards, but they said the lower interest rate was only for new customers...(that was one of them, which was barclay card)

at the moment i feel as though some of the companies take the p....out of people who have got or had money problems....
sorry for moaning.....its just one of those days...where i feel like telling the world to stop as i want to get off now, you know, you want to wake up, and think it was a bad night mare.....

i must admit this website, is keeping my sanity going.......


....................cooltrikerchick...............................

CLAPTON

maybe you've been there, done that, got the tee shirt etc and if so ignore the following....but maybe you might benefit from posting a SoA and see what ideas people can come up with.

THE_LONE_RANGER_4

post a soa list all incomings out goings etc and we can take it from there if your in debt it needs to be done to get you back in the driving seat and in control of your finances

COOLTRIKERCHICK

ok thanks will go sit down tonight while everybody is out and write everything down...and the amounts etc......will post the results later, or tomorrow morning, .......

thanks everyone.........

Experian_company_representative

There's no doubt that a default or CCJ dropping off your credit report is likely to have a positive effect on your score, but bear in mind that different lenders have different scoring systems and the scores the credit reference agencies provide are only a guide and are based only on your credit report information. Lenders scores will factor in other details, such as your credit application form answers.

southernscouser

You can make your credit report look healthier in the mean time though.

Avoid applying for credit. Too many searches on your file will make you look desperate to lenders and can have a negative affect on their decisions!

Searches normally remain on your file for 12 months so by next Feb any applications made prior to Feb this year should have dropped off!

Also reduce credit limits where possible. For example if one card has a balance of £900 but a limit of £4,000 reduce it to £1,000!

Good luck with the debt clearing!