Credit File advice

wicket94_2

Hi All,
I'm currently trying to get our finances in order and making good progress to clear a number of debts etc. My credit rating/file though is not good and I'm trying to rectify.
I understand I can add a note to my file which I intend to do to a default notice - now paid.
I have another account in default - still paying off (i got behind on my payments) Once the payments are up to date - there will still be a balance owing will the default signal (8) revert to the usual monthly display or will it stay at (8) throughout the remaining term on the loan?
I want to sort out my finances mainly to try and get a cheaper rate loan to replace the high rate loan I already have and get a better current account.
Any advice appreciated

file_wizzard

If you have a (8) this indicates that the account has been defaulted and legally terminated, i.e the account is no longer in “active” existence and is in fact a subject to debt recovery proceedings.

If you pay off the outstanding amount a “satisfied” note will be added to the (8) for default, but the default itself will remain as it indicates to other lenders that you defaulted on a credit agreement.

With regard to adding notices of correction to files this is not generally a good idea, and has been discussed in a recent thread, I will find the link to that thread a post it in a bit

wicket94_2

Thanks for the advice.

I'll search around for the credit file notes you mentioned.

I feel very trapped with my financial position at the moment. We've come through a sticky patch and are now making good efforts and keeping up and ahead with payments etc with a view to being credit card debt free in 4 months or so.

However I really want to get a better current account - I currently have a Halifax cardcash. I really hate being treated like a second class citizen by halifax including them taking 7 working days to clear cheque funds. I don't need an overdraft or cheque card - just a recognised debit card, interest on credit balances, online banking (can't do without that).

We also want to ditch our high interest loans - now we are getting into a better position I want to pay off in a shorter time and reduce the interest rate.

It seems I can't get these without a good credit score.

Does anyone have any experience of applying for say a bank account, getting refused but discussing the issue with the bank and them agreeing to open it. Our position is so improved it's so frustrtating being held back by old mistakes and Naivety

Thanks