credit score 170

guestman

my credit score is in the very poor section , this is because of my old / other account i now dont use.

natwest overdraft £384 - account frozen , no interest been added
natwest loan in default - its a big loan.

if i pay of the overdraft which i can do on payday and then make some arrangment to repay the loan, will this improve credit score any in the next few months?

either way i wouldnt be able to get a car on finance for 6 years as this is how long defaults show to lenders, is this correct?

poppasmurf_bewdley

So you owe Natwest £384 in a frozen account AND you have a large loan with them that is in default?

And now you are trying to get another loan for a car?

I'm sorry but you haven't got a hope in hell of getting another loan until you have sorted out your two problems, which will probably mean you have no hope of a loan for six years whatever happens.

Anthorn

A credit score means nothing because different lenders have different criteria for scoring based on your credit report. So it's what's on your credit report and CCJ register that counts.

Highly unlikely that your credit report will be enhanced over the next few months if you pay off the overdraft and make an arrangement to pay. However some creditors put the arrangement to pay on your credit report which looks better than just defaults.

Defaults drop off your credit report 6 years after the date of the default which is usually a few months after the cause of action which is the last time you made a payment. Over the 6 years period you could try to get a sub-prime credit card which will help to improve your credit report. If you're going to get one from anywhere it will likely be from Vanquis.

guestman

i have a barclay card what is paid every month, i always pay £30/40 above the minimum amount

as for a loan ? no, i want to start gettig this debt sorted first, i was more wanting to know if i couldn get one while still paying these debts of or would i have to wait till there cleared and dropped from my credit repot. Not get one now and not pay the debts. my wage has gone from around £900 a month after tax to anything between £1400 and £1700 a month or more if i do overtime so paying things of now are easy.