HELP! need advice improving credit score.

Ralphy101

Hi


I am in dire need of a loan to help consolidate debts.

My credit score is 500.

My % of credit i am using is 40%
No CCJ/IVAS/Bankruptcy
Not on the voters roll - but have since had confirmation from the council that i am now - but experian still states i am not.
8 missed payments -one is a orange 2, the rest are orange 1's.
All my accounts are a green satisfactory.
I have 10 previous searches in the past 12 months.

Anybody have any ideas on how to improve this quickly.

I note the obvious to pay off outstanding balances, but again money is tight.

I am wondering how big of an impact is the searches and experian not saying im on the voters role?

Does anybody know if this is possible to remove searches and if it is how easy it is to do, as i have already tackled the problem of the votors roll.

Thanks

slig

Stop applying. With all those searches you are not going to be accepted for the time being.

Consolidation loans are generally considered a bad idea by people here. They tend to just prolong the debt rather than solving the problem. It's hard to say without seeing your financial situation what the best route is, so I would suggest you post an SOA http://www.makesenseofcards.com/soacalc.html using this link. You'll probably get more replies if you post on the debt free wannabe forum.

Sorry, I know this doesn't actually answer your question - I don't actually know the answer to that.

hostie1985

Hi Ralphy101,

I agree with Slig about stop doing searches, as the more you apply for loans/credit cards etc, the less likely you will get the loan you want - the loan/credit card companies will look like your desperate for credit. I dont think that you can remove searches on your file - but dont quote me on that!

If you have got comfirmation that you are on the electoral role and experian says that you are not, then you might have to get in contact with them and explain the situation.

If you can post a SOA on here, it might be easier for other people to give you some more advice.

If you have got credit cards - you can transfer them to a 0% interest or to a lower interest rate if you can not get a 0%? or even moving the debts where the biggest debt is on the smallest % card that you have? just an idea.

Hostie

cavework

Just checked my credit report. Everything satisfactory except one which still shows 2 late payments and an outstanding balance of £70.
The account was paid off a month ago. Have contacted them and they are going to correct it.
I have no credit cards but do have a mortgage and secured loan in joint names with my husband,but no late payments.
I have one credit agreement , no missed payments and £200 left to pay.
I am self employed but have a regular income and over 5 years accounts, so why according to Experian can,t I get a 0% interest credit card?
Sorry if I have put this in the wrong place but it,s my first post on here.
Any advice would be very welcome.
Thanks