affect on credit rating

bbelt

Hi All

I have a hire purchase agreement on my car which i bought in jan 2008.

i missed a couple of payments in 2009 as i entered a difficult period financially. I missed payments for a few things aroudn this time.

i sorted myself out and have paid more than the minimum payment since and the agreement will be settled on the same date as stated originally (ie same date as if i had not missed any payments). I also squared up with other payments that had been missed during the period of difficulty.

my question is how will this affect my credit rating?

i have recently been promoted and earn substantially more than before, i was thinking about upgrading my car when the current agreement ends in Jan 2010, but wondered if option to get another on HP has gone?

can anyone advise on if they have been through something similar, what were your findings? thanks in advance.

Tixy

Have you actually looked at your credit files?

If not thats the first thing to do.
You need to know if they are showing as late payments/missed payments or something more serious such as a default.

You can get your credit files for £2 per agency for the statutory report or for free using the free online trials (though you need to remember to cancel).

GeorgeUK

I agree with Tixy, you need to check your credit file.

If it only shows missed payments, then by now these should not have an impact on your credit score. If however you had defaults, then this will make a difference and you will find getting any type of credit more difficult.