Help needed please!!!!

dannyp86

Hi all,
i am looking to improve my credit rating, as i want to get a mortgage in a couple of years or so.
The reason i came to this section, is that i have 2 defaults on my credit file. Both from banks RBS and Abbey/Santander, i aquired these when i was younger and stupid and very unaware of what a default is/was.
I got these through unauthorised overdrafts, less than £10 or so, then getting drawn into the spiral then before long the £15/30 charge becomes £300/500
I have been looking at all routes if possible to remove the defaults, both show as satisfied, as i payed the amounts off.
Can i reclaim the bank charges? or ask for removal of default from my file as a gesture of good will?

Any advice much appreciated, i guess you can see i am not very clued up in this department, but learning quick:o

dannyp86

anyone please?

cat516

It depends on when the defaults were issued. If the defaults were registered in the last six years they will stay on your credit rating for six years from the point of being issued. If they are paid in full within this time they should show as satisfied on your credit rating. If they are not paid in full the lender has the right at any time to issue you with another default notice so make sure the accounts are cleared.

Secondly make sure that all your other details are up to date on your credit report such as name, address etc. Make sure that you are on the register to vote at your current address as this also helps.

Lastly in relation to your credit rating order a copy of your credit rating from equifax or experian to check that there is nothing else on there that could be causing you any problems. Speak to equifax or experian about ways to improve your credit rating and they may be able to give you further advice.

Reclaiming your bank charges can be difficult due to the OFT/Banks court case ruling that charges are fair. To stand a chance of reclaiming charges on an overdraft you have to prove that you were suffering financial difficulty at the time. The starting point would be to order copy statements showing your charges, calculate these and then write to the bank enclosing the charges calculation and a copy of your income and expenditure at the time. Ask the bank to treat this as a complaint and they then have to provide you with a full response within 8 weeks. If you are still unsatisfied with their response you can refer your claim to the Financial Ombudsman Service

dannyp86

any got any advice?

Little_Mo_70

dannyp86 wrote: »

any got any advice?

See advice above and below:

http://www.moneysavingexpert.com/

societys_child

Hey, dannyboy why did you change post No4?

originally it asked:

and what have you taught me?

dannyp86

societys_child wrote: »

Hey, dannyboy why did you change post No4?

originally it asked:

because i thought i was out of order, why?