Bad credit rating help for an idiot

nbell

....................................................

KingElvis

You got a CCJ from the DVLA? never heard of that one.

I hope you get it sorted mate but it looks like it's going to be a long haul. I would imagine that your credit report will be pretty gloomy reading, those debts although old may still be on there. Constant applications for credit cards would destroy your history too for at least 12 months.

I would be honest with your GF, get an accurate total of your outstanding debts and start the process of recovery.

Good luck mate

mr.ton

You need to be fully honest with your partner about your situation.
If she understands then she's obviously right for you & worth being with.
If she doesnt & holds it all against you etc....then you'll be better off without her quite frankly.
Debts do drop off credit files after 6 years - that is the law.
The actual rating system is a seperate crazy law unto itself in all honesty & can be based on many different factors - not just debts.

mr.ton

Stop being harsh on yourself as well.
We've all done things in the past that we regret or are not proud of - its all part & parcel of growing up etc...
Its the here and now that counts - not x amounts of years ago.

Marisco

Hi Nbell Immature, ignorant, naive kid??? You mean like most teenagers?;) We all do things we regret, at least your facing up to them:) Your credit rating is probably shot to hell, but the one thing I'd say, don't open anything jointly with your girlfriend, (I'm assuming her rating is OK?) as your bad rating will affect hers. Good luck:)

mr.ton

Marisco wrote: »

Immature, ignorant, naive

They were just my good points as a kid

nbell

Thanks for the replies people.

@KingElvis Yep I got a CCJ from the DVLA. They were hounding me to renew my tax disc on a vehicle which had been reported as stolen. Me being me, I thought their records would be updated automatically by the police or something and ignored all correspondence. I think I was a bit unlucky with this one unlike the others. I haven't even acknowledged this 6 year old CCJ yet so what effect will this be having?

I've reached the point now where I want to start enjoying the normal things in life. I'm a bit more mature now and I'm careful with my money. I see my mates getting mortgages, buying new cars and mobile phones, paying for holidays in one go on a credit card and I can't do these things because I was daft with money a few years ago.
My debt is relatively small, I would guess at around £2000, so it wont take me too long to pay back, I'm just wondering what is the best way to do this and where to start? After I've paid these debts of where do I go from there? Will I have to wait another 7 years for them to disappear before people will trust me with money again? I applied for a Vanquis card, which I was advised anyone can get no matter how bad their rating but even they shot me down.
How can I get this score to a decent level and how long is it likely to take? Any advice is much appreciated!

mr.ton

You can get turned down for credit regardless of weather your credit history is good or bad - we live in a crazy country like that im afraid.
After 6 years - debts drop off your credit file and are stat barred = end of.

podperson

CCJ and defaults will drop off your credit record after 6 years so hopefully you should be losing the CCJ quite soon which is a good thing
Regarding the debts with Barclaycard and Vodafone, obviously you will have to check current amounts etc when you credit report comes but think you need to decided what to be doing with these.
Sounds like they will be on credit record for a few years yet so might be worth contacting them and trying to sort something out - particularly for the Vodafone since it's a small amount. If you can get that marked down as paid it will obviously look much better. Regarding Barclaycard, you say most of the debt was made up charges - these can be claimed back which would probably clear the balance off, or at least make a big dent in it. Templates for letters and spreadsheets are on the site for that.
Stop applying for any credit for the moment as that will only be making it worse and don't get anything joint with your gf as it will link your names and drag her credit rating down.
Would definately advise being honest with your gf, we all do stupid things when we're teenagers and am sure she will understand that.

dancingfairy

Have a read of Martin's article here:
http://www.moneysavingexpert.com/cards/bad-credit-credit-cards
or this one on how credit ratings work and how to improve them:
http://www.moneysavingexpert.com/loans/credit-rating-credit-score
Hope that helps
df

nbell

Thanks Dancingfairy. I had a look through the article and found this -

The Last Resort: Pay for a special prepaid card
Costs £60/year, but anyone is guaranteed to get one!

going to have a look into it, might be just what I need!

Thanks again,

Nicky