Just damaged my credit report. What now?

Sutty

I just worked out that by consolidating my two loans with a northern rock loan i could save £2000, reduce my monthly repayments and be debt free sooner. Bonus. However, northern rock turned me down, then lombard then egg. I don't know why i applied for three, its totally against my nature. Anyway I know i've damaged my chances of getting credit for a while now with the multiple searches but the question is how long? I've taken the positive action I should have done before i applied (updated the electoral register, cancelled two unused CC's etc) now its just a waiting game. how long before I could safely apply for credit again? Help please... Many thanks

immoral_angeluk

Think it's 3 months... that's what I've always been told anyway..

Sutty

Thanks. That would be a big bonus for us

vics_1982

Yep i think its 3 months also.
Good luck

Molanole

I thought it was advisable to wait for six months before applying for new credit?

And in that time why not take a look at the snowball calculator http://www.whatsthecost.co.uk/snowball.aspx to see if this can help you manage your payments in the meantime, you might find you don't need to consolidate after all.

Xbigman

It depends on the lender but 6 months is usual.
Regards



X

Sutty

I've just been on experian again and found out that i am now financially linked to my partner. They asked for her details on the loan application but i was specific that i didn't want us to be linked (she has a ccj so we keep our finances seperate) and that it was a single application. I was assured by northern rock that we wouldn't be associated but lo and behold theres now two entries on my report linking us. Can i get northern rock to withdraw this information or am i stuck with it now?

oops_a_daisy

Im not sure but I think there is a way of disassociating yourself on your credit report from another person - I think you have to write to the credit reference agency ( but there are a few ) - somebody else may be able to advise ?

carinska

Sutty do you know what product/issue it is that is linking you both on your credit report?

Sutty

It was a northern rock loan application that linked us. I didn't even get the loan. This has really annoyed me as i specifically said that i didn't want to include my partners details and they pushed for it saying that only her income would be considered. Have written to both equifax and experian about it so watch this space...