credit score info please

honeybee3939

Hi

Just a bit advice please.

I have aways been good at paying my debts. Never missed a mortage payment or a loan payment.

Last year we moved house (no problem getting a mortgage) and then we decided to purchase some new pvc windows the offer was buy now pay in 12 months which we took out and had the windows and doors fitted. It cost £7500 this had to be paid on the 27th of January 2010 or it would go up to £19,500 at 19.9% interest rate. Anyway on the 25th of Januray i paid the outstanding balance (didnt get a loan saved up what we could and borrowed a couple of grand of my parents), anway i checked my credit score today and it says my score is very poor ! and it also shows the debt of 19,500 outstanding that we have now paid !

My question is how will a poor rating affect the future and how long will it take to change the score. My husband is thinking of getting a new car will this affect any credit we want in the future?

Thankyou for any replies in advance.

Honeybee

CLAPTON

absolute madness to leave paying the loan back only two days before it was due
how did you ppay it?

you need to check with the finance company what the status of your account is and have your credit report amended accordingly.

honeybee3939

Hi

I paid the loan by debit card and have had a statement since from barclays to say the loan is now paid and cleared ( i had been intouch with Barclays on previous occasions to telll them when i was paying them amount and what methods where best to pay. I wasnt meaning to leave it till the last minute i had saved £5000 to pay it off and was going to borrow the other £2000 from the bank but i didnt realise because the debt was showing on the credit report that banks would only lend the money at a very high interest rate so it wasnt as easy as i thought it would be to get hold of the money.

Honeybee

honeybee3939

CLAPTON wrote: »

absolute madness to leave paying the loan back only two days before it was due
how did you ppay it?

My question wasnt regarding paying the loan back - maybe you mis- understood my previous post.

My question was how long does it take the debt to be taken off the credit score??

To be honest i was a little offended by your reply - My husband got made redundant last May and didnt get re employed till September so i think we have done very well to save £5000 to pay off the debt with only one salary coming in.

Anyway thanks for the advice about contacting the finace company i will give them a call tomorrow.

Honeyee