removed 2 defaults/debts today

lee20010

My credit file has finally updated the 2 defaults I had with Orange, however alothough it says 'settled' theres nothing next to it....normally it would say default or satisfactory....

Anyway, my score was 415, removing those 2 pushed it up to 505.....slowly getting there..

blacksta

Congrats - Make sure henceforth you become financial savy and a good credit record is worth more than Gold

lee20010

It's trying to get credit that will be an issue..So far I've removed the 3 out of 4 defaults on my file....all mobile phones. O2 should update soon as I paid it all off....Not sure how I show I'm now good with credit....do I get a sim only contract for starters??

Tixy

Have you got any credit accounts that are still open lee - such as a credit card? If not then you might want to consider getting a subprime card and using it for one or 2 things a month and paying it off in full the next month - that way you pay no interest but demosntrate you can handle credit responsibly.
'Bad Credit' Credit Cards: Use them to rebuild credit rating

If you already have a credit card then you can use that for the same thing.
If you have a card with a running balance then just make sure you make all your payments on time and preferably pay more than the mininmum each month (even if its only a few quid more then the minimum).

lee20010

Tixy wrote: »

Have you got any credit accounts that are still open lee - such as a credit card? If not then you might want to consider getting a subprime card and using it for one or 2 things a month and paying it off in full the next month - that way you pay no interest but demosntrate you can handle credit responsibly.
'Bad Credit' Credit Cards: Use them to rebuild credit rating

If you already have a credit card then you can use that for the same thing.
If you have a card with a running balance then just make sure you make all your payments on time and preferably pay more than the mininmum each month (even if its only a few quid more then the minimum).

Sadly no cards of any sort, even my basic bank account doesnt report to CRA (I'm with Halifax) so I've now opened a Barclays and Nationwide basic accounts, waiting for everything to come through. I applied for a few Sub Prime last month and was declined (this is why I was driven to sorting out my credit file)

No idea what to do

Tixy

Once everything has been paid off and reflected on your credit file then you could try again for a subprime card in a couple of months or so - which one did you go for? if not vanquis you might want to try for that (it should be the easiest to get).
Are you on the electoral roll by the way?
If you get refused again you might want to consider the cashbuilder card (mentioned on the bottom of the link) although this does cost you it can be a way to start improving your file.

lee20010

Tixy wrote: »

Once everything has been paid off and reflected on your credit file then you could try again for a subprime card in a couple of months or so - which one did you go for? if not vanquis you might want to try for that (it should be the easiest to get).
Are you on the electoral roll by the way?
If you get refused again you might want to consider the cashbuilder card (mentioned on the bottom of the link) although this does cost you it can be a way to start improving your file.

Already 2 months into my cash builder account, though thats not even on my credit report as yet. I applied for Vanquis in April....so will have to wait some time. I applied for AQUA and Capital one classic....both decline lol..

I'm on the Electoral roll as of July 1st, though I've been at my home for 2 years 9 months (thought mum updated it when we moved)

no idea where to turn

Tixy

Ah - not being on the electoral roll will be major. If you are on the roll from 1 July then it usually takes around 4-6weeks more for this to show on your credit files.
By the time you appear on the elec roll and have paid off the remaining debt (if it isn't already?) and your several searches are not so recent then you should stand a reasonable chance of being accepted. Just a case of being patient for a a couple of months or so.

lee20010

Yeah I know. I've emailed the CRA with my registration number of the electoral roll. Maybe that would speed things up. This time last month I had £1200-1300 of outstanding debt and 4 defaults. Now I have no debt and 1 account (Three Mobile) removed the default and stated I paid on time for the last year, and it's settled... Orange's debt is gone and settled but my account status for the previous 21 months is all 'U'. O2 should update within the week....

Still wondering if a sim only would help??

badger8

lee20010 wrote: »

Yeah I know. I've emailed the CRA with my registration number of the electoral roll. Maybe that would speed things up. This time last month I had £1200-1300 of outstanding debt and 4 defaults. Now I have no debt and 1 account (Three Mobile) removed the default and stated I paid on time for the last year, and it's settled... Orange's debt is gone and settled but my account status for the previous 21 months is all 'U'. O2 should update within the week....

Still wondering if a sim only would help??

Hi Lee, may I ask how you maged to get Orange to remove your default? I'm trying to get a default off of my credit records as its for for less than £200.

rictus123

What sort of score do you think is good?