The Sub Prime Credit Thread - Part V

never-in-doubt

izools wrote: »

I don't think HSBC are going to want to consider me until the BR has dropped off altogether really. If only there was a high street bank that only search EQ.

If it is discharged mate they HSBC only go back 3 years so long as your last 3yr history is flawless, the adverse isn't really adverse iyswim.... its discharged, finished, dead! Therefore only a 3yr search will be done unless they spot something that makes them want to go back the whole 6yrs, too many searches, too much credit, not enough info etc etc

izools

never-in-doubt wrote: »

If it is discharged mate they HSBC only go back 3 years so long as your last 3yr history is flawless, the adverse isn't really adverse iyswim.... its discharged, finished, dead! Therefore only a 3yr search will be done unless they spot something that makes them want to go back the whole 6yrs, too many searches, too much credit, not enough info etc etc

I must admit I did mess up a little during the Bankruptcy - I had to borrow £300 from Provident as the boiler in the house (which we ended up giving back to Abbey anyway ) started leaking CO.

It is the only account on my credit file showing arrears. All the others are squeaky clean. I wonder if there's a way to get it removed? I wasn't happy with them reporting the account as being in arrears during an arrangement. It doesn't show arrears on CC, just unreported statuses for the months it was in an AP.

EDIT: I think I'll apply for HSBC in April, if they say no, I'll open up a Halifax Reward and apply to HSBC every April thereafter until they say YAY What's their "don't apply before x or we'll decline you anyway" period?

never-in-doubt

izools wrote: »

I must admit I did mess up a little during the Bankruptcy - I had to borrow £300 from Provident as the boiler in the house (which we ended up giving back to Abbey anyway ) started leaking CO.

It is the only account on my credit file showing arrears. All the others are squeaky clean. I wonder if there's a way to get it removed? I wasn't happy with them reporting the account as being in arrears during an arrangement. It doesn't show arrears on CC, just unreported statuses for the months it was in an AP.

Unfortunately mate there is little you can do, however you could ask Provident if they will remove the late payment markers and replace with unclassified ()'s? Worth a go, no?

But technically, that is an accurate assessment cos an A/P is actually a defaulted account, in so much as you're behind with your payments so have resorted to an arrangement, as you never paid the contractually agreed amount each month they can (and will) add a late payment marker for each month that you remain in arrears.

So to explain, with example:

You should pay £50 per month - you make January payment and from February you agree to pay £10 per month. In June you agree to pay £40 per month. In July however, you clear all the arrears and are up to date....

Your credit file should read as follows:

.J. .F. .M. .A. .M. .J. .J.
COLOR=darkgreen]0[/COLOR COLOR=darkorange]1[/COLOR COLOR=darkorange]2[/COLOR COLOR=darkorange]3[/COLOR COLOR=red]4[/COLOR COLOR=red]5[/COLOR COLOR=darkgreen]0[/COLOR

Make sense?

Basically each month you are ANYTHING behind (payment wise) the marker stays and counts up another number from 1-5. Even if you owed £100 and paid it all, but never made that particular months payment, the number that was there before would remain, it'd not go back to a [1]

sutton111

never-in-doubt wrote: »

That answers my last question, so in April next year when the BR is 3+ yrs old then go into HSBC branch and apply, you will be accepted so long as you stop applying for things and give them no reason to perform a check beyond 3yrs.....

sorted matey -- April 2011 it is then, and you'll be in "Our Gang" :rotfl:

How do you think i got through the 6 yr net then? lol

never-in-doubt

sutton111 wrote: »

How do you think i got through the 6 yr net then? lol

your defaults are over 3 years arent they? Aren't they? lol :rotfl:

Remember when they took me, I still had the incorrect link and loads (500+) searches but I proved it wasn't me in branch :eek: :rotfl:

izools

Lol speaking of HSBC my OH just got approved for one with two defaults, one outstanding, 3+ years old so I guess your three year rule works

They send out that boring looking Silver Visa Debit on the no-frills current account don't they?

never-in-doubt

izools wrote: »

Lol speaking of HSBC my OH just got approved for one with two defaults, one outstanding, 3+ years old so I guess your three year rule works

They send out that boring looking Silver Visa Debit on the no-frills current account don't they?

I still have the black card and the silver for my second account - both are £100 CGC's.... but yea, they are both better than the orange one

I thought you dumped the OH and was single or is this a new one? My god you get through men like I get through weed mate :rotfl:

sutton, can you take photo and show us the card please?

izools

never-in-doubt wrote: »

I still have the black card and the silver for my second account - both are £100 CGC's.... but yea, they are both better than the orange one

I thought you dumped the OH and was single or is this a new one? My god you get through men like I get through weed mate :rotfl:

sutton, can you take photo and show us the card please?

On again, off again. Meh.

never-in-doubt

izools wrote: »

On again, off again. Meh.

so you mean he's a good [EMAIL="sh@g"]sh@g[/EMAIL]? :rotfl: :rotfl:

izools

never-in-doubt wrote: »

so you mean he's a good [EMAIL="sh@g"]sh@g[/EMAIL]? :rotfl: :rotfl:

Nah man we get on flawlessly as long as we don't live together