Best way to sort out my situation?

dry664

Over the last 12 months I have managed to wipe £10k off my existing debts and by the end of the year I should be able to find another £5k to get it down to £17k. Im very lucky in that I have a good job that pays well but I have had to make sacrifices. The plan is to get it down to around £5k but mid 2013, then reclaim my life and spend responsibly. My current situation is:
Barclaycard 9k
NW card 11k
Bank Loan 2k
DFS 0% finance £600
I have a car on HP with an outstanding balance of £5800 which I'm not counting (is that cheating? )
My biggest problem is that that cards are currently on standard interest rates (18%ish). Also I moved house last year and didn't register on the electoral role.
I applied for a balance transfer credit card last month and was declined which I found very strange so I registered with Experian CreditExpert. Heres the report highlights:
- Credit score of 991
- Not on electoral role at current address
- Negative factors are 1.High number of credit accounts 2. Large amount of unsecured debt (thanks for reminding me) 3.Not on electoral role at current address.
I have since applied to be put on the electoral role but have been told this won't show up until mid October.
I am bit miffed to see the car HP agreement under unsecured debt. I have read the agreement and its definitely a secured loan but its obviously counting against me and reducing my chances of getting accepted for new cards.
From my pay cheque this month I will have about £3.5k to throw at debt. My priority is to get credit cards onto the lowest possible rates asap. My plan is to pay off the Bank Loan and the DFS to reduce total borrowed but also number of accounts, then apply for a couple of 0% credit cards when my Experian report is updated with the reduced debt and the electoral role.
Am I going about this in the best way? Does anyone have any advice for me? Does anyone have any thoughts regarding the Car HP being listed as an unsecured loan? Thanks very much for reading.

Experian_company_representative

Sounds like you're making great progress. On the HP issue on your credit report, that particular classification is only for the summary that you see. A lender would look at your data through a different portal and, I'm fairly certain, would look at all of your outstanding credit when assessing affordability. Definitely a good idea to get yourself on the electoral roll. We'll be loading that data quite soon. The annual canvass is early this year because of the elections in November for new Police and Crime Commissioners. It's not usually published until 1 December.

James Jones

dry664

Experian_company_representative wrote: »

We'll be loading that data quite soon. The annual canvass is early this year because of the elections in November for new Police and Crime Commissioners. It's not usually published until 1 December.

James Jones

Thanks James. Do you have a rough idea of what date I can expect my report to be updated with that data?

Experian_company_representative

If you live in England or Wales (but not London) you can expect to see the new electoral roll data on your Experian report between about October 16 and November 2. If you're in London, Scotland or N Ireland then it should appear the first few weeks of December.

James Jones