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How to send your credit rating to sub zero in next to no time!
CreditNightmare
Posts: 1 Newbie
in Loans
How to send your credit rating to sub zero in next to no time!
I was trying to by a 2nd house which is a non-standard build house made of precast concrete. Individual mortgage companies would only inform me of a decision to lend after an application had been made.
The applications all proved futile, so I attempted to buy the property with a loan. As such, numerous other credit applications were made.
These all came back at increasing interest rates, and so no credit was taken.
Over time all the rates seemed to be increasing. Why?
Each check leaves a trace on the credit file.
I had made 50+ traces, all for around 45,000.
The credit file does not say whether these traces have resulted in a loan.
So, as far as companies are concerned, when they see my credit file, they see that I have just taken out 50+ loans of £45,000, which is 2.25 million pounds!!!!!
In fact I have actually taken out a total of £0 pounds!
How do I sort this mess out?
I was trying to by a 2nd house which is a non-standard build house made of precast concrete. Individual mortgage companies would only inform me of a decision to lend after an application had been made.
The applications all proved futile, so I attempted to buy the property with a loan. As such, numerous other credit applications were made.
These all came back at increasing interest rates, and so no credit was taken.
Over time all the rates seemed to be increasing. Why?
Each check leaves a trace on the credit file.
I had made 50+ traces, all for around 45,000.
The credit file does not say whether these traces have resulted in a loan.
So, as far as companies are concerned, when they see my credit file, they see that I have just taken out 50+ loans of £45,000, which is 2.25 million pounds!!!!!
In fact I have actually taken out a total of £0 pounds!
How do I sort this mess out?
0
Comments
-
Ask the CRAs to let you add a note explaining all these applications in such a short space of time.
In any case, after about six months your credit rating will return to normal. And the file would show if you had actually taken out any of the loans.
As for ways of buying the non-standard house, I'm afraid I have no idea.0
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