Credit Rating

nobi79

I have had a credit rating from equifax of 537, Equifax say that this is a pretty good rating and I should get credit at most places, although 537 doesn't sound very high! Do ratings vary between credit reference agencies?

salau2

Ratings mean nothing at all. Creditors have their own in house system for accessing your application. Though one can be quite sure that the more missed payments, defaults and CCJs you’ve had in the last 6 years the less likely you are to get credit. Though, this general rule can vary for some.

Tixy

As said above - credit scores are pretty irrelevant.
What you need to look at is what is on your main credit report, and yes this data will vary a lot between the 3 credit reference agencies (as not all of your current creditors and any credit applications you have made will have been reported to all 3 agencies).

Potential lenders will also take into account a lot of information that doesn't appear on any of your credit files at all.
For equifax to say you should be able to get credit from most places is ridiculous, as they have no idea whether you are working, how much you earn, what your debt to earnings ratio is and many other things, all of which will be very important to potential lenders.

nobi79

Thank you both for your replies:)

nobi79

Thank you for your reply

Curr946

Though if your looking for credit, and wary about applying credit expert can match you to likely lenders. But this is in no way guaranteed to be successful

chanz4

so can moneysupermaket for free, unlike credit expert that you pay a subscription for

izools

nobi79 wrote: »

Thank you for your reply

Put it this way, my "Score" (no, I didn't pay extra for it) with Experian Credit Expert is 902.

Despite the fact I have six defaults and a discharged bankruptcy on my credit file.

Laughable.

nobi79

Thanks everyone, it sounds like the scores aren't worth too much!

nova_dee

salau2 wrote: »

Ratings mean nothing at all. Creditors have their own in house system for accessing your application. Though one can be quite sure that the more missed payments, defaults and CCJs you’ve had in the last 6 years the less likely you are to get credit. Though, this general rule can vary for some.

hi..i really dont know anything about this CCJs, is this a letter requesting you for a court appearnce?

and how do you get rid of this CCJs, can you appeal it or turn it around? where can you write to ammend it or to expain your side?

and if you owe a merchant and this merchant forwarded it to legal or to court and you pay the merchant, does the CCJ go away?

do these ccjs come as an ordinary mail or a recorded one...i know this is a stupid question but can you deny receiving a ccj from the post?

hope you can help me on this one ... TIA

salau2

A CCJ is a County Court Judgement. It is not a criminal court but a civil court so they don’t find you innocent or guilty. They decide on the balance of probabilities whether you owe the money in question. You will receive court letters asking if you want to defend the claim. During this time you have the opportunity to send any evidence etc… you do not need to attend court. If the court decides that you owe the money they will deliver a judgement against you. You can ask for the order to be amended if you cannot afford to pay it all. This instalment order will vary the repayments if you send a reasonable and just financial statement showing how much money you have left over at the end of the month. If you do not respond the court will usually make a ‘forthwith’ judgment and you have to pay the whole money starlight away. Though you can again submit an installment order (formN245) or ask for the order to be suspended until you can pay (form N244). Unless you pay the whole amount of the CCJ within one month of the order it will be recorded on the register for CCJs for 6 years. Creditors use the CCJ register to check before loans credit cards etc…

If you disagree with a CCJ you can ask the court to set the judgment aside. You must have just and genuine reasons for disagreeing. If you lie to the court or mess them around you can be fined or even sent to prison. Once a CCJ is paid off it will be marked satisfied. I do not think that stating you did not receive court letters is just and genuine reason to disagree with a CCJ. If you have genuine reasons then you may have it set aside.