Updating my credit file?

Ruth25

Hi everyone. Some advice please! I have been carring nearly £40K in debt for the last three years and finally this year, through a combination of hard work and a lot of good luck, I've cut in in half. The means to achieving this came through a small business start up that has really worked well (on a small scale comparitively) however, now I find myself in the strongest financial position I've been in for years, all my creditors (5 x credit cards) are choosing this time to reduce my limits drastically or block further use of the card. The irony is that I've paid back £14K onto various credit cards this year and as I've paid it back, most of them have reduced my limit by the amount I repay each time. As I'm now in the position to want to do some balance transferring, how can I change/update my credit rating (which I suspect is years out of date)? Also, I'd like to borrow some money to expand my business, my business account has been healthy since I set up in February, but would the bank look at the behaviour of the account and my first years trading only? or look at my personal credit rating?

Many thanks for your input!!