Ex- Credit Analyst - Throw your Credit & Underwriting Q's at me.

KerryGold

Hi Mike,

I'm trying to improve my credit rating in the hope for us to buy a house in the new year. (I currently own our flat with a mortgage).

Currently I have 'Good' history, on my files but with Equifax I have a 'warning' level on credit payments.

As far as I can see this is because in 2002/2003 I have three yellow 2 circles - 2 on a catalogue payment (stupid me, small amount to pay forgot to do it) and one on a credit card.

Since then I have greatly improved, and apart from an odd wobble (one or two yellow 1s per year on ONE account) everything else is perfect.

I currently owe less than £1500 total on one OD and one CC and I'm working hard to clear them.

What I want to know is how long are yellow 1s and 2s considered bad enough to make me still a 'warning' in this section despite the fact I'm now excellent in paying on time and managing my debt.

I.e. are 2s a warning for say 3 years and you be allowed one late payment per year? Or something?

Hope you can help!
Thanks! :beer:

Mike_St_Helens

Hi all.... Im away now till Monday as its OH's Bday weekend, and I cant let my unhealthy obsession with this site get in the way !!! lol...

I will also go back and reply to any PM's and posts...

Happy weekend all !

justheclothesonmyback

Hi Mike, me again..
was worried that my being named as financial associate on OH's report would prejudice his intended loan application..
went on to OH's experian to file a 'disassociation', but worried - because they say that in the case of an ex partner, you must prove you are no longer living together - we are not separated, we just don't have any joint accounts at all. there are two entries that have my name as associate, they were from M&S and Abbey and under associate source it says 'proposal form' - does this mean a loan application form? because i did apply for loans about that time, but they weren't joint applications, so i don't understand why they linked me with OH's report. will they grant a disassociation on the grounds that although we are married, we have totally separate finances?
many thanks for your help.

boom123_2

Hi Mike! I hope you can help me, I know its the weekend and your probably enjoying a glass of vino (I guess after reading your thread).

After applying for a job with a bank and succesfuly going through 3 interview stages I recieved a letter saying they would normally at this point offer me a job, however after doing a credit check on me they can't offer me a bank account with them in turn meaning they cannot offer me the position. (this was stated on the application.)

Yesterday I managed to view my credit report from experian. I have a defalt from another bank which is due to be removed at the end of October, I am however paying this debt of to a debt agency.

I also have a default to catalogue £1232 which I am not paying as I had moved and when I moved it was no where near this amount but with interest it has obvoisly escalated to this obscene amount.

I contacted the bank to say I really want the job and was unaware of any adverse credit. They have told me to see them on Monday with proof that the debts have been cleared or proof that I am repaying them and there credit dept will review it.

What do you think my chances are? What would be a reasonable explanation as to why I have n't tryed to repay the catalogue debt? Is there anything else i can do?

I currently only have a basic bank account, my credit score is fair and I am unemployed due to recent redundancy!

Your urgent help would be much appricated as I know you have given sound advise to others.

boom123_2

Ok just realised your on holiday Mike! Can anyone else offer some help or should I post question elsewhere?

Hope you enjoy yourself Mike I bet the vinos flowing!

sharman24

hi just a small question, i have MBNA and A &L credit cards, all have now been suspended since i asked for my data details, nothing more just the details, MBNA have replyed with 'take this £100 pounds or we close accounts?
please tell me, does this mean i have had a mark set against me at the credit ref agencies?
if so , is this allowed, if fact one of the accounts is in credit, so how do i get my money out?, all others have no more than £200 credits on them, all up to date

regards

starkiller

Hi Mike

My sister applied to have her overdraft extended in the short term until OH finds work. She only wanted an extension of £200. She was turned down due to something on her credit file...can't remember what she said. Anyhow she got credit file from both Experian & Equifax today and she has all my details on her file. We are twins but haven't live in the same property for approx 5 years.

Anyway I have applied for mine today and await their arrival.

A few questions really:
1. How the hell does my credit details get put on her file?? Luckily we are close but I am mightily p***ed off that she knows my financial circumstances and more than likely vice versa. What can we do about this??

2. Could this be the reason why she has been turned down?? Because of my financial activities?? In the last 3 months I have got a mortgage and closed a number of credit card accounts. I will be well annoyed if she could have been turned down cos of some link to me.

3. Is there any come back in terms of Data Protection in terms of Experian & Equifax?? What IF we had had a big bust up, she would have found out what I owe to who, and where I live, etc. I find that most disturbing.

Any how, I will sign off now. Don't post regularly on these boards but hope you had a good weekend away, having just come back from a few days in the lakes is nice to feel relaxed, refreshed if not a bit tired cos of too much drinking. :beer: :beer:
Toodle Pip
Starkiller :rolleyes:

maka_2

Hi mike myself and my partner bought are first house a couple of months ago and we thought we should be ok to apply for a decent cc as the one we have at the mo is the cap one 29.9apr. but when we applied we were turned down or should i say i was turned down but there seems to be no reason for it i have checked my credit files them seem fine so i dont understand it.
I was under the impression when you own your own house they tend to throw money at you.

Sorry we have bought the house 3 months ago now and all payments made on time to the mortgage company.

Thanks in advance

maka

Mike_St_Helens

justheclothesonmyback wrote:

Hi Mike, me again..
was worried that my being named as financial associate on OH's report would prejudice his intended loan application..
went on to OH's experian to file a 'disassociation', but worried - because they say that in the case of an ex partner, you must prove you are no longer living together - we are not separated, we just don't have any joint accounts at all. there are two entries that have my name as associate, they were from M&S and Abbey and under associate source it says 'proposal form' - does this mean a loan application form? because i did apply for loans about that time, but they weren't joint applications, so i don't understand why they linked me with OH's report. will they grant a disassociation on the grounds that although we are married, we have totally separate finances?
many thanks for your help.

Hi there, Sorry for the delay....

A proposal is simply an application. I am not too sure if they will allow a disassociation if you live together and have joint utility/council taxes then there is the association. The only thing I can think of to alert lenders to the fact that you dont want to be 'linked' is to put a notice of correction on your file. This alerts lenders to any text of your choice that is factual.

Mike

Mike_St_Helens

boom123 wrote:

Hi Mike! I hope you can help me, I know its the weekend and your probably enjoying a glass of vino (I guess after reading your thread).

After applying for a job with a bank and succesfuly going through 3 interview stages I recieved a letter saying they would normally at this point offer me a job, however after doing a credit check on me they can't offer me a bank account with them in turn meaning they cannot offer me the position. (this was stated on the application.)

Yesterday I managed to view my credit report from experian. I have a defalt from another bank which is due to be removed at the end of October, I am however paying this debt of to a debt agency.

I also have a default to catalogue £1232 which I am not paying as I had moved and when I moved it was no where near this amount but with interest it has obvoisly escalated to this obscene amount.

I contacted the bank to say I really want the job and was unaware of any adverse credit. They have told me to see them on Monday with proof that the debts have been cleared or proof that I am repaying them and there credit dept will review it.

What do you think my chances are? What would be a reasonable explanation as to why I have n't tryed to repay the catalogue debt? Is there anything else i can do?

I currently only have a basic bank account, my credit score is fair and I am unemployed due to recent redundancy!

Your urgent help would be much appricated as I know you have given sound advise to others.

Hi there.. Have you had this sorted or do you still need an answer... hope its all worked out OK.....