credit rating

JBsplit

hello all, i have just done an equifax search on my name, the score i got was 453 is this ok.???

also i have one so called missed payment, this problem was entirely my banks fault they admitted (to me) messing up a change to my direct debit but how can i have this ammended.

if it comes down to proof then how will i ever get the bank to publicly admit they messed up. the other problem is it was about 12months ago this happened and i had no idea it was on my records as this is the very first check i have done on my name.

grumbler

JBsplit wrote:

also i have one so called missed payment, this problem was entirely my banks fault they admitted (to me) messing up a change to my direct debit but how can i have this ammended.

if it comes down to proof then how will i ever get the bank to publicly admit they messed up. the other problem is it was about 12months ago this happened and i had no idea it was on my records as this is the very first check i have done on my name.

It is not clear from your post who reported the missed payment: your bank or some other company. Only the part that reported this is able to correct this.

JBsplit

it was a mail order company who i missed the payment with, its was all direct debit so i had no idea it was missed untill the following month when i realised the payment hadnt been taken out, the mail order company said i had cancelled the DD but i phoned my bank who confimed they hadnt set it up properly after i moved bank accounts.

grumbler

I'd get a letter from the bank and sent a copy to the mail order company with accompanying letter asking to remove missed payment from the file. If they refuse, I'd contact the CRA directly with copies of the correspondence.

P.S. See: Changing information about credit accounts
What to do if you think your report contains incorrect credit account information

JBsplit

i think this maybe a problem, getting the bank to admit it is one thing but after 12months....i dont hold out much hope.

grumbler

If they admitted this once, they can do this again. This doesn't cost them anything. Send a polite letter explaining everything to theit complaints department.

JBsplit

is 453 a good score, its anoying having one blot on my record but will it in reality make much difference.

jonesMUFCforever

One missed payment from 12 months ago is not going to do your score any difference. To some it might even make you more attractive as they could probably charge you a higher rate of interest.

billywhizz

The score is not done by Equifax it is arrived at by the lenders. How they get your score and what is a good score is a closely guarded secret for obvious reasons. However missing one payment for a mail order company wont make any difference to your ability to borrow. What is more imprtant these days is being on the voters roll, not moving house every 6 months and generally being a stable person. I now sturggle to lend to people who are not on the voters roll. Additionally having no credit hoistory at all does still work against you. Missing the odd credit card payment doesn't (mostly though some of my underwriters need to be reminded sometimes)