credit ratings

reisse03

hi there, i dont know who else to ask about this so any advice would be appreciated.

i have a few debts that im paying off slowly but my question is that im assuming my credit rating will be shot to hell. I have a decree against me from last year so while this is on here, i see little point in trying to improve it.
Would it make a difference me while thats still on there?

how can i build my credit rating while the decree is still on there?
x

GeorgeUK

As i understand it, it will take 6 years for the decree to come off your file. After this, creditors will look at your remaining accounts to see how these are being run. Your file may be shot to hell, but if you can get a creditcard or prepay card and make monthly payments (in full so you don't get charged interest), once the defaults and decrees fall off it will still show your remaining accounts and it would be good to be able to show a long period of making regular payments. This is what creditors will want to see. It will still take some time for your rating to be rebuilt after the last of the defaults goes, but it may give your score a boost if you have a history of paying on time for them to see.

reisse03

thanks for your reply. i have a contract mobile that i make payments to every month and the decree was settled in full within a month.
i am also paying all my other debts off too,
will any of this make a difference?

GeorgeUK

The decree was paid within a month?
I think you should have been able to get this removed.

From the registry Trust website: http://www.trustonline.org.uk/faqs-help/

29 - How can I remove my decree held on the Scottish Register?

Decree entries are only removed if they were recalled by the court, paid before the court action or paid in full within one calendar month from the date of entry.

If the decree was either entered in error or paid before the court action, application should be made to the court to have the decree recalled.

The decree can also be removed when the Trust is provided with satisfactory evidence, confirming that the debt was repaid within one calendar month.