My bad credit file - please can someone take a look

newbieuk1

Hi All,

I have a credit report from Experian and would like someones help if possible.

I have 5 black marks on the report and I have listed them t the bottom of the post.

Can anyone offer advice on what to do with them. I have been told that the Bottom two are the worst but they will dissapear from the credit file as defauled accounts will stay on th credit file for six years from the date of the default. That will leave two out of the way on 23rd of this month but the other three are still on there.

Thanks for your advice,
Rob

1)
Arrangement From 10/02 to 11/02
OUSBA BUDGET (Revolving Account)
Started - 16/01/02 Default - £105 Defaulted - 26/11/02
Current Balance - £105
Status History - 8
File updated for the period -to 29/05/05

2)
NEXT DIRECTORY Mail Order
Started - 18/10/02 Default - £96 Defaulted - 25/04/03
Current Balance - Balance Satisfied
Status history - 8
File Updated for the period to 05/10/03

3)
BLACK HORSE LTD LOAN
Started - 10/10/00 Balance - £1374 Settled - 31/05/2001
Monthly Payment £90 over 18 Months
Status History - U6543210
In the last 8 months account activity, the number of status 1-2 is 2 and the number of status 3+ is 4
File updated for the period to 1/06/01

4)
KINGS HILL (NO1) LIMITED LOAN
Default - £2251 Defaulted - 23/09/00 Current Balance - £2296
Status History - 8
File updated for the period to 13/11/05

5)
NEXT DIRECTORY MAIL ORDER
Started - 16/03/00 Default - £182 Defaulted - 11/08/00
Current balance - £182
Status History - 8
File updated for the period to 19/11/00

Mike_St_Helens

newbieuk1 wrote:

Hi All,

I have a credit report from Experian and would like someones help if possible.

I have 5 black marks on the report and I have listed them t the bottom of the post.

Can anyone offer advice on what to do with them. I have been told that the Bottom two are the worst but they will dissapear from the credit file as defauled accounts will stay on th credit file for six years from the date of the default. That will leave two out of the way on 23rd of this month but the other three are still on there.

Thanks for your advice,
Rob

Hi Rob,

1)
Arrangement From 10/02 to 11/02
OUSBA BUDGET (Revolving Account)
Started - 16/01/02 Default - £105 Defaulted - 26/11/02
Current Balance - £105
Status History - 8
File updated for the period -to 29/05/05

2)
NEXT DIRECTORY Mail Order
Started - 18/10/02 Default - £96 Defaulted - 25/04/03
Current Balance - Balance Satisfied
Status history - 8
File Updated for the period to 05/10/03

3)
BLACK HORSE LTD LOAN
Started - 10/10/00 Balance - £1374 Settled - 31/05/2001
Monthly Payment £90 over 18 Months
Status History - U6543210
In the last 8 months account activity, the number of status 1-2 is 2 and the number of status 3+ is 4
File updated for the period to 1/06/01

4)
KINGS HILL (NO1) LIMITED LOAN
Default - £2251 Defaulted - 23/09/00 Current Balance - £2296
Status History - 8
File updated for the period to 13/11/05

5)
NEXT DIRECTORY MAIL ORDER
Started - 16/03/00 Default - £182 Defaulted - 11/08/00
Current balance - £182
Status History - 8
File updated for the period to 19/11/00

Hi Rob

This aint as bad as you think. Most is fairly old, and either settled or relativley low balance. As you know, you have really answered you r own question, you know that some are about to drop off... It depends on the lender and their policy as to if you are approved or not. I wouldnt approve with unsat defaults, however as they are ready to fall off your file, as long as you have other credit, all A1 and a good solid Voters roll... then you should be out of the woods soon.

Mike

newbieuk1

Thanks Mike,

Do you think I should pay off the OUSBA Account which will not drop off until 26/11/08 as this shows a balance outstanding of £105

Also the real problem I am having is letting a house through a letting agent. They require a good credit history and aswell as the issues I mentioned I have got 2 CCJs; one from July 05 & one from Jan 04.

I have really good employment, bank, previous landlord refs etc its just that if i fail their credit referencing they will ask me for £45.00 for the search fee and if i still want to rent then 6 months up front!! which i cant afford

Is there anything i can do to improve the situation?

Thanks again

oakdale_minx

Hi newbieuk

re: the OU, ifyou are still studing with them, or wanting to, I would pay this one off. If you are on an arrangement, or have defaulted, they don't let you register for further modules/courses and they don't send you your exam results. I'm doing my Masters with them and had to make an arrangement this year. I ended up paying it off early in the end, but I was told this would happen once an arrangement was made.

re: NEXT, it looks like this one is going to drop off soon?

newbieuk1

They seem okay about it but i am going to pay it off anyway.

Yeah the next one will have gone already last month. The worst one is the Kings hill one which will go this friday.

Im going to check out the letting agents next week to see how this has changed the situation.

Thanks for the guidance oakdale. good work

Mike_St_Helens

newbieuk1 wrote:

Thanks Mike,

Do you think I should pay off the OUSBA Account which will not drop off until 26/11/08 as this shows a balance outstanding of £105

Also the real problem I am having is letting a house through a letting agent. They require a good credit history and aswell as the issues I mentioned I have got 2 CCJs; one from July 05 & one from Jan 04.

I have really good employment, bank, previous landlord refs etc its just that if i fail their credit referencing they will ask me for £45.00 for the search fee and if i still want to rent then 6 months up front!! which i cant afford

Is there anything i can do to improve the situation?

Thanks again

Deffo pay it off... the 6 year thing only comes off the file after the closure or satisfication of the account.

I can understand why the agencies are having issues.. Do they look at your file themselves or do they outsorce it so they get a yes/no fom them

Also have you looked for private renting, often better and cheaper if you look properly

Mike

newbieuk1

Thanks Mike,

The CCJs are paid off btw. But some letting agents get a company who uses equifax or experian to do their hunting for them, some which are linked to IFAs will use a moneyweb search I believe or may get a copy of the report.

I earn 21k p.a I was thinking of getting a mortgage. With the history I mentioned what are my chances? and what sort of amount do you think i could borrow? Permanent job with Blue chip employer very secure - supervisor position at 25. 3 years employment.

I could maybe get together a deposit of £5000 at a stretch without a loan.

Mike_St_Helens

newbieuk1 wrote:

Thanks Mike,

The CCJs are paid off btw. But some letting agents get a company who uses equifax or experian to do their hunting for them, some which are linked to IFAs will use a moneyweb search I believe or may get a copy of the report.

I earn 21k p.a I was thinking of getting a mortgage. With the history I mentioned what are my chances? and what sort of amount do you think i could borrow? Permanent job with Blue chip employer very secure - supervisor position at 25. 3 years employment.

I could maybe get together a deposit of £5000 at a stretch without a loan.

Now that sounds better than renting !!

have a look at https://www.moneysupermarket.com they have very good comparisons.

newbieuk1

Thanks again mike you have been a great help.