Improvement of Credit Score - Repayment Plan or Settlement

mcasson

Hi All,

First post, and hope that i'm not duplicating a thread!

I am 23, and since being 18 I have had bad debts. I have yet to check my credit rating, however now that I am in a more comfortable position, I am interested in improving it.

I have a stable job, and over the last year I have saved each month and paid off £4k. During that time my creditors have been kept at bay with a debt management plan receiving pittance - and i've saved up and paid off with a settlement figure.

I now have around £1K over three creditors - in the interest of building my "rating" back up, should I pay these off in instalments or pay them off in full (which I can comfortably do).
**I say "rating", I know there is a lot of myth around credit ratings**

I'm not planning to buy a house for years, however I want to start rebuilding ASAP (high rate credit cards & paying them off immediately, creditbuilder cards etc).

Your help and time is much appreciated!

Mike

Tixy

Hi

What is showing on your file at the moment?
Do you have defaults on your credit accounts? or Arrangement to pay markers? or what? If defaults when are they dated.