Bad Credit Rating

ShaunJUK

Hi,

I have spent the last few days reading posts on here which although have educated me, they have also confused me on what I should do next.

I have the following on my credit report, sorry if its messy I have just copied and pasted. What should I do to sort the mess out?

Credit Card from Cabot Financial (Uk)ltd (I) / XXXX

Terms 0@£0 (Monthly)
Status Defaulted
Current Balance £2,333
Start Balance £0
Credit Limit £0
Default / Delinquent Balance £2,088
Start Date 08/12/2004
Date Updated 24/11/2009
Date Last Delinquent 01/07
Date Satisfied
Default Date 01/01/2007
Payment Amount
Previous Statement Balance
Cash Advance Amount
Number of Cash Advances During Month
Credit Limit Change
Minimum Payment?
Promotional Rate


Credit Card from Egg Plc (I) / XXXXXXXXXXXX

Terms 0@£0 (Monthly)
Status Settled
Current Balance £0
Start Balance £0
Credit Limit £ 2,000
Default / Delinquent Balance £ 2,088
Start Date 08/12/2004
Date Updated 30/11/2007
Date Last Delinquent 01/07
Date Satisfied 18/01/2007
Default Date
Payment Amount
Previous Statement Balance
Cash Advance Amount
Number of Cash Advances During Month
Credit Limit Change
Minimum Payment?
Promotional Rate


Bank Default from Aktiv Kapital (I) / XXXXXXXXXXXXXXX

Terms 0@£0 (Monthly)
Status Defaulted
Current Balance £1,970
Start Balance £0
Credit Limit £0
Default / Delinquent Balance £1,612
Start Date 02/06/2005
Date Updated 25/05/2010
Date Last Delinquent 03/07
Date Satisfied

helena83

Are you paying towards these each month at the moment? Could do with knowing a bit more info really. The only way to clean up your credit file is going to be to get these paid off and then give it 6 years to recover!

Gordon_Hose

If the defaulted accounts are yours, and you did, in fact, default on the account, then the mess will sort itself out after 6 years from the default date.

The defaults will drop off after 6 years whether you're paying them or not.

ShaunJUK

Gordon_Hose wrote: »

If the defaulted accounts are yours, and you did, in fact, default on the account, then the mess will sort itself out after 6 years from the default date.

The defaults will drop off after 6 years whether you're paying them or not.

Well Cabot appears to be the Egg card, I dont know what the Aktiv Capital one is.

I am concerned that Cabot appear to have settled the Egg Card, does that mean I should have a new default and its 6 years from that date?

When Ihave been reading the forms I read about requesting the original credit documents, should I do that in these cases?

Thanks

ShaunJUK

Gordon_Hose wrote: »

If the defaulted accounts are yours, and you did, in fact, default on the account, then the mess will sort itself out after 6 years from the default date.

The defaults will drop off after 6 years whether you're paying them or not.

No payments have been made and I wasnt aware of them until I recently got my credit file

Gordon_Hose

When was the last time you made a payment towards them?

aronrhys

is it possible to completely repair a bad credit report?? 30 years old and already feel what's the point in even trying when you hit brick wall after brick wall!

Gordon_Hose

aronrhys wrote: »

is it possible to completely repair a bad credit report?? 30 years old and already feel what's the point in even trying when you hit brick wall after brick wall!

Repair? No.

Pay your debts off and wait for the bad stuff to fall off? Yes.

aronrhys

so if debts are paid off it takes 7 years for everything to clear up?and does this start from the final payment date? would like to eventually apply successfully for a mortgage and am going to make every effort to do this.

Gordon_Hose

A credit account stays on your record for 6 years, whether you're paying it or not.

ShaunJUK

Im still a bit confused?

Should I have 2 records on my credit file? One from Cabot and one from Egg for the same credit card.

And should I be asking for the original documents?

I have no idea what the third debt is