Fought hard and won, or so I thought!!

Snowedunder

I have struggled with my debts over the last few years as many of you have, and, following advice and tips found on here I finally arrived at my destination on Wednesday to be free of all my bad debts, ie. all paid and 'fallen off'.

As suggested I have tried to build a 'good' credit history by getting first a basic bank account, which after time has been upgraded and I now have a debit card which I use sensibly within my current account restrains at all times. I was, about 2 years ago given a Credit Card from this bank and whilst I have not paid it off in full all the time and the credit limit has never increased, it runs along nicely, I always pay much more than the minimum payments.

At the beginning of this year I also got a Cap. 1 basic card with £200 limit which I use and pay off each month. I have never been offered a credit limit increase.

I also have a catalogue account which does have a limit of £2500 but I owe just under £1000 and again always pay more than the minimum payment.

I am never late with my payments which are all paid by direct debit.

Today I checked all of my credit files. Every account shows nothing but OKs, on Electoral Roll, same house over 20 years, no CCJs or Bankruptcy, no associations and no searches.

My Credit Score 1/5!!!

I can only assume that my age of 66 is the problem!

My sister recently tried to rent a small property and was told that at 66 on State Pension and Pension Credit she stood no chance as she was considered by all letting agents to be a 'bad risk'. She also gets disability benefits and would be entitled to HB, but this just made matters worse as she was told 'landlords consider those on HB will take the money and go off on holiday instead of paying their rent" She has never had a bad debt in her life either so her credit (had they accepted her application to rent the property) would have been excellent.

So, I guess we are now written off and not considered worthy of a credit card and home!

Just venting, feel a bit better now, and I must accept the situation and encorouge all who are still struggling with debt to carry on the fight, I feel better about myself and proud of my personal achievements even though I have not really benefited.

Good Luck all who are still struggling.

MrOrchard

You still have considerable credit commitments, which I'd imagine impact the result, mores than your age.

What exactly was paid off on Wednesday, given that you still have £1,000 on a catalogue account, which would be a flag for any lender/credit reference agency?

Since 2008 lenders have had to become far more responsible to protect the consumer, this has meant that they look at affordability - e.g what happens if the catalogue recalls the debt all at once? This and only making small payments can influence a credit score.

Have you checked with all the credit reference agencies? They all have slightly different ways of looking at things!

Snowedunder

Many thanks for your response.

The catalogue receives payments of at least £200 per month, and although I have a limit of £2500 I have never owed more than £1200 and even then more than twice the minimum was always paid. I have now stopped all purchases on that account and it will be paid off in 3 months having freed up all my disposible income from repaying other debt.

I make no small payments as such, Cap 1 is paid up, so I only have 1 credit card, which I pay up monthly and then have used, in the past to pay other bills with higher interest rates. Should the catalogue recall my debt (not sure why they would do that, I do not order big and always pay at least twice the minimum, then I have sufficient income to repay within 2 months.

The advice on here that I have followed is to have manageable credit which is better than no credit, but apparently you say this has now changed and although I have never ever made a late payment or missed a payment, this comparatably small amount of credit is counting against me?

Although I feel better in myself for having met my goal, it now appears that my struggle has really counted for nothing.