What do I do next?????

haxeybird

Hi Guys

I currently have a debt of £3474.56 spread over 5 different creditors. These being Moorcroft Group £1531.88 (Egg Loan gone wrong), Additionsdirect £412, Wescot Credit Services £852.21 (Halifax OD gone wrong), Alliance & Leicester (OD) £478.47 and my Mum £200 (for a payment made for me when a bailiff knocked on the door) .

Anyway, enough of beating myself up over the debt, I have calculated my repayments and I will be debt free in April 2011.

Now that I have a plan in hand, what can I do to start repairing my shocking credit rating. Do I wait until everything is paid off or is there something that I can do now?

Look forward to hearing any advice available.

HB

Tixy

Probably very little you can do at the moment. When were these debts defaulted? What CCJs do you have? (as you mention a baliff)

Do you have any credit accounts etc that are still open and active?

haxeybird

Thanks Tixy. I have never received any notification of a CCJ being brought against me.... Would I have received anything in the post? When I look on my creditexpert report there is nothing under the CCJ's section.

The only active Credit account that I have is the Additionsdirect account that is open.

Verbatim

Make sure you're on the electoral register. martin has an article on repairing your credit rating I think.

Tixy

Sounds like you don't have any CCJs and perhaps you mother paid money to a debt collector rather than a baliff (as a CCJ should appear on your credit file - and yes you would have received court papers for it). So thats good news

As to improving your credit record then once your defaults are around 4-5years old it will probably be worth getting a subprime card and using it and paying in full each month to start to show responsible handling of credit. For the same purpose I would keep the additions account open, as if you struggle to get new credit or a subprime card you could possibly use that account in a similar way.

Here is an article that may be useful http://www.moneysavingexpert.com/loans/credit-rating-credit-score#improve
Oh and one other thing (which I am sure you wouldn't do anyway but) never pay any firm that says then can improve your credit rating as they can't.

haxeybird

Pheewww :j @ the CCJ's. 'Bailiff at the door' were the words that Mum used when she rang my mobile LIVID :mad: but thankfully she didn't want to keep dragging that out....

By the looks of it then there is nothing I can do at the moment to improve my situation. I guess when I am actually Debt Free that will be a start.

Thank you :T

haxeybird

I have just been looking at my credit report and on there there is a Default Status against a Halifax Credit card that I had and settled in January this year. When I log into my Halifax Banking it states that there is a £0.00 current balance and also that the last payment received was £152.14 which was what I owed so therefore I don't owe them anything however it features on my Credit report as I've mentioned. The Default Balance is £284(??) and it states that the current balance is satisfied. Am I able to get my Credit Report changed?

Tixy

Did you owe £284 at the date you defaulted? I assume you did actually default and receive a default notice?
If you did then providing it says that you owe nothing now and that the debt has been satisfied it would sound like it is correct.

haxeybird

I paid it through the Halifax Online Banking system and paid them £152.14 which is what they said I owed.

The £284 is what Halifax have recorded on my Credit Report and is not a sum that I am aware of at all. perhaps a call to Halifax might be required? Or maybe a letter?

Tixy

Is the default date on your credit file also dated January then?
And you cannot find any default notice from them at all from back then?