credit file help?

sevenpounds03

Still trying to fix my chequered past and my equifax file basically has
3 red defaults, 1 green settled account and 13 green "run well" credit accounts.

I am going to settle two of the defaults and the other one is being disputed so hpefully should be settled or removed completely.

Will this make my report better or does it not matter if they are settled or not

HenryJ_2

Settling the defaults does help, but for me it has been a struggle which I'm hoping will get better when they fall off my file 6 years from the date of the default. Which should have been last week but Equifax are being a bit slow updating.

bottleofred

Settled defaults are obviously better than unsettled ones, but it is even better when they drop off your credit file completely. To improve your credit rating, make sure you are on the electoral role, maintain any payments/credit agreements regularly and on time. If you currently have no credit agreements, you should consider applying for a high interest repair your credit card, use it for a small amount each month and then settle it in full. Over a minimum period of 6-12 months, this shows other lenders that you can pay on time and should make you a better prospect for lending when the time comes again. Don't get too hung up on credit scores though, as all lenders have their own criteria.

Good luck

Red

fuzzgun19

Could anyone give me some advice?

I would like to try to 'repair' my credit history, as I'd like to get a contract phone and am currently unable to do this due to their credit checks.

For the past few years I've had littlewoods & empire catalogues, which have had a few late payments as I kept forgetting some months. The Empire one was paid off a few months ago.

I looked at my credit file with Equifax in Jan 2011, but I can't seem to access it now (as I cancelled the 30 day free trial). This showed some debt I had about 5-10 years ago with credit/store cards, but they were settled.

I've read that you can improve your credit by getting a credit card and paying it off in full each month? but how could I do this if no-one would give me one? what card would be best for someone with poor credit?

iwantasmallholding

I recently found out also that to boost your credit score make sure you go into credit on your current account, if you stay in your overdraft even after being paid you will be classed as living off borrowed money all of the time and this goes against you!.

fuzzgun19

Can anyone recommend a credit card I can apply for that I wouldn't be turned down?

Edit: I've just applied for a Capital One Progress card As in the guide here http://www.moneysavingexpert.com/cards/bad-credit-credit-cards ), hope I'm successful, then I can try to repair my credit.

fuzzgun19

I got a thanks but no thanks letter from Capital One, so looks like I'll have to give up.