Improving my credit rating

Optimisticred

Hi there,
I know these kind of questions are asked all the time but according to Experian currently my credit rating is bad and I was wondering based on the below how long it will take to get to fair and then how long to good rating….obviously this is only approximate. My current good and bad points are below. It is obvious why I have a bad credit rating due to the missed payments.

Good
• Homeowner (never missed mortgage payment)
• Graduate loan with Barclays (never missed a payment)

Bad
• Halifax credit card (missed several payment over last 18 months) currently £3000
• Barclays credit card (missed several payment over last 18 months) currently £750
• O2 phone bill Had high bill of £500 that took me 6 months to pay off and had contract frozen…now ok and paid off
• Loan for Sofa (missed 4 payments over last 12 months)

Based on that I will be able to pay off both credit cards in the next 2 months (from my bonus) and I will be able to ensure that I will not miss any payments in the future. How long will it take for my credit rating to improve?

Any help given will be really appreciated.

Thanks,

Edit:

I am 26 years old and have a full time job on 30,000 per year

fatbelly

It should be a 'slow and steady' improvement. Sounds like you do not have any defaults or ccjs -just quite a few late payments. Maybe a year to clear them off your record . Are you on the electoral roll?

Optimisticred

fatbelly wrote: »

It should be a 'slow and steady' improvement. Sounds like you do not have any defaults or ccjs -just quite a few late payments. Maybe a year to clear them off your record . Are you on the electoral roll?

Thanks for the response.

You are correct no CCJ's or defaults juts simply late payments.

Yes registered to vote at same address as bank accounts.

Optimisticred

Bump.

Just seeing if anyone else has been in this situation before and how long it takes to get back to a fair credit rating?

Thanks,