multiple problems... in desperate need of help

SeanyP321

Ok where to start.

A year ago my credit score was close to great (960). I owed a lot of money but was managing with the 0% shuffle. The 0%'s dried up and things became a little harder to manage. But I managed. Then...

- A t-mobile bill was paid late. This was not really my fault. I had a get out of contract clause through carphone warehouse. As far as I was concerned, I was done. But I had one final bill to pay:(

- A shop direct bill was late. This was entirely not my fault. I owed 47.50 on a BNPL. The terms stated if I paid off the 47.5 in before the year ended, I pay no interest. A month after I made the purchase, I paid the full 47.50, which showed as credit for the next 10 months. Cue end of BNPL, they charged me interest, I was completely unaware.

- A Halifax credit card was paid late. This was partially my fault but not entirely. I pay my bill from two separate accounts. The amount due = £90. I paid £85 from one account successfully. I paid 30 from other account, but can only assume that the transaction was not successful. Thus a week later I get a letter saying I'm £5 overdue. I call immediately pay it. They inform me that I will lose my low apr for life of balance. This would have added huge amounts of debt to my debt so... at great personal expsense, I pay 7500 off my debt. They then send me a letter saying they are reducing my debt by 7500.

I check my score again. 352!!!! All three payments show on eperian/equifax.

I have written a letter of complaint to littlewoods. I have written a groveling letter to T-Mobile (it isn't there fault) and I am speaking on the phone with Halifax tomorrow.

My questions are:
1. Halifax marked my credit file even though the payment was only a week late. They have refused to re-increase my limit. What are the odds they will remove the late payment.

2. What are the odds t-mobile will remove theirs out of the goodness of their hearts?

3. Can three late markers really have such a negative effect? The £7500 payment hasnt updated on credit file yet. Presumably that will have a positive effect (although the availble credit will no longer show also)?

All accounts have been maintained to high degree til this string of mishaps. Was looking to buy a house in a year or so... how quickly will I be able to repair this?

All these years of paying the ********** money and they strip everything away like that!!!

thanks for reading

BigCraigJohn

I would not worry about any score you may get from them as its only there score. All banks score differently. Continue to pay on time and any late markers will mean very little to a potential lender in a year i'd imagine. Thats providing youve not defaulted anything.
Sure someone else will go into more detail.

SeanyP321

thanks for the positive words,

but if both experian and equifax estimate my score to have from the top percentile to the bottom one in the space of a year (and it was hard to get credit a year ago!) then I feel I need to everything I can to sort it out.

BigCraigJohn

Just continue to repay on time. I'm no expert but I imagine reducing your available possible credit will help also ie reduce limits so they may of done you a favour there.

SeanyP321

thanks again. Believe, there is not a penny ever going on a creditcard again!!!! So available credit does not concern me. I just want to be in a position to get a mortgage at some point:(

Ive heard people have had success with getting late marks removed and was hoping I could do the same. I was also under the impression they wouldnt mark before 30days (which halifax have)!!!???

BigCraigJohn

It does seem very harsh. I think you may be confusing late payments with default s thoughas these will have a serious affect on your chances hence why people try and get them removed.
Have you written to them?, just keep to the facts and ask them if they will remove them. At the end of the day your not a consistant late payer.
However I still think it will have very little affect on whether you get a mortgage in 12 months time. They will look at earnings, job, age, salary, excess cash etc. Remember they want to give you there money so will be trying there hardest to lend you money not looking for a reason not to.
Not giving someone a mortgage because they were late on a couple of payments a year ago would imo be extremely harsh and I imagine there would be plenty of other companies ready too, providing ofcourse you passed on other areas of the application.

Again this is all my own opinion.

SeanyP321

great now my bank is telling me they are going to recall the overdraft on my current account. I didn't even know they could do that!

And my employer has said they can't increase my hours, which they promised they would.

It doesn't get any better than this Viva la debt free revolution!!!