The Sub Prime Credit Thread - Part IV

noah271007

Its-A-New-Age-Thing wrote: »

mmmmmmmmm dunno mate i do know there one of the hardest though, i had a woman on the phone from them a whnile back pointing out i hd a 5 year old satisfied default

Sounds like its a full 6 years if they can find your 5 year old default....hmmm best to wait until Nov when the account with the 3 late payments is removed.

fairmorn308

So everyone? Whats ur plans then for 2mo?

Its-A-New-Age-Thing

noah271007 wrote: »

Sounds like its a full 6 years if they can find your 5 year old default....hmmm best to wait until Nov when the account with the 3 late payments is removed.

noah271007 wrote: »

Sounds like its a full 6 years if they can find your 5 year old default....hmmm best to wait until Nov when the account with the 3 late payments is removed.

yeah what made me laugh and i wasnt a member of this at the time but almost 2 years now they were trialin a different system and it was basically they would give u a credit card if u had SATISFIED defaults and ccj;s i at the time had one ccj that wasnt satisfied id never paid it..........and she cheerfully said oh thats a pity you would of QUALIFIED if it was showin as satisfied lol .......... i then said oh itll be off in 6 months though and she replied we might not be doing the same deal in 6 months which was u gave them a £100 deposit............. i wonder if anyone was lucky enoughg to bag one at the time pity i wasnt on this at the time i could of causes a subprime stampede lol

noah271007

Its-A-New-Age-Thing wrote: »

mmmmmmmmm dunno mate i do know there one of the hardest though, i had a woman on the phone from them a whnile back pointing out i hd a 5 year old satisfied default

Just out of interest, have you missed any payments since you had the default registered particularly in the last 3 years?

Some lenders do check back 3 years as standard, and if there's no adverse during that time then use that info. The system will search further (i.e full 6 years) if there are any other adverse in the last three years like a single missed payment.

The only exception would be the public data which will be searched for the full 6 years if i am right as standard.

noah271007

Its-A-New-Age-Thing wrote: »

yeah what made me laugh and i wasnt a member of this at the time but almost 2 years now they were trialin a different system and it was basically they would give u a credit card if u had SATISFIED defaults and ccj;s i at the time had one ccj that wasnt satisfied id never paid it..........and she cheerfully said oh thats a pity you would of QUALIFIED if it was showin as satisfied lol .......... i then said oh itll be off in 6 months though and she replied we might not be doing the same deal in 6 months which was u gave them a £100 deposit............. i wonder if anyone was lucky enoughg to bag one at the time pity i wasnt on this at the time i could of causes a subprime stampede lol

LOL....well lending criteria change from time to time.... one month MBNA may relax their critiera, and the next put the required score back high!
Sometimes it is a lottery to who can have the cards...

Its-A-New-Age-Thing

noah271007 wrote: »

Just out of interest, have you missed any payments since you had the default registered particularly in the last 3 years?

Some lenders do check back 3 years as standard, and if there's no adverse during that time then use that info. The system will search further (i.e full 6 years) if there are any other adverse in the last three years like a single missed payment.

The only exception would be the public data which will be searched for the full 6 years if i am right as standard.

none at all the only missed payments i have and it INFURIATES ME is my mum went bankrupt about 6 years ago......... i took out a studio catalogu for her in my name so she could have credit at her address and yes i know i shouldnt though shes my MUM anyways she MISSED 3 payments on it in 2005 DIDNT TELL ME THOUGH and years later in 2008, i took it of her and transfered it to my adress checked my history and HEY PRESTO id missed 3 payments on a credit account the only credit acount showing missed payments from 2005 and it was MY BLOODY MOTHER

:mad:

noah271007

Its-A-New-Age-Thing wrote: »

none at all the only missed payments i have and it INFURIATES ME is my mum went bankrupt about 6 years ago......... i took out a studio catalogu for her in my name so she could have credit at her address and yes i know i shouldnt though shes my MUM anyways she MISSED 3 payments on it in 2005 DIDNT TELL ME THOUGH and years later in 2008, i took it of her and transfered it to my adress checked my history and HEY PRESTO id missed 3 payments on a credit account the only credit acount showing missed payments from 2005 and it was MY BLOODY MOTHER

:mad:

Thats bad especially from your own mother! But hey you haven't got long to go anyway with the default going later this year and the late payments next year....time will go very quickly. The late payments i got on file was a 1, followed by a 2 and a 3.

People say here that late payments from 5 years ago should not affect applying for credit as it is diminished over time, but in my experience it always get referred if they check back the full 6 years history.

I have made two attempts to get a Nationwide visa debit card (full account) but declined each time due to adverse data on my credit file...... meaning my late payments from 5 plus years ago still can impair the ability to get what you want.

Its-A-New-Age-Thing

noah271007 wrote: »

Thats bad especially from your own mother! But hey you haven't got long to go anyway with the default going later this year and the late payments next year....time will go very quickly. The late payments i got on file was a 1, followed by a 2 and a 3.

People say here that late payments from 5 years ago should not affect applying for credit as it is diminished over time, but in my experience it always get referred if they check back the full 6 years history.

I have made two attempts to get a Nationwide visa debit card (full account) but declined each time due to adverse data on my credit file...... meaning my late payments from 5 plus years ago still can impair the ability to get what you want.

yeah she missed 3 payments all ONES though ie not cosecutively, she didnt understand the impact missing payments would have we had some argument about it at the time i found out though i can assure you........ though whens all said and done its my mother the woman whos raised me all my life.......... what worrys me though, is i closed it in 2008 only to reopen and close it this year lol,

though equifax have it recorded as a seperate catlogue as other lenders wouldnt know they were both studio................ but as they have the old catlogue settled in 2008 the payment history shows as a permanent imprint on my file and anyone who manually looked at my file and its payment history will due to the account being closed in 2008 effectively see a missed payment history from 2005 all the way up to 2014 6 byears after the account settlement date of 2008 etc

Its-A-New-Age-Thing

oh my defaults not vanishin till june next year..........to be honest though ive now got 4 credit cards anyway and 4 current accounts aswell as 3 mobile and voda contracts, so i need to try and be3 happy at that plus my searches have been mental these past few months so maybe a years sabatical involving me closing some 3 mobile accounts and 2 bank accounts and running my 4 ccs sweet is the best way forward anyway

fairmorn308

afternoon.

Well i got my letter from Virgin saying i was declined for there credit card worth appealing for guys?

Also got a letter saying my electoral will be changed the end of this month and my previous address will be removed