Clear Credit Searches?

tubsolard

Hi,

I'll try and keep this short and apologies if this is in the wrong area, I wasn't sure where else to put it?

Anyway, I was trying to get some form of credit towards the tail end of last year in the form of a loan or credit card and was oblivious to the fact that A) I had a defaulted payment on my account and the amount of searches left a dent in my credit score.

I didn't know about A) whilst I was replying and I didn't know why I was getting refused as I have made significant progress in cleaning up my credit score over 2012. So I dealt with A by obtaining a copy of my credit record and realised there was a defaulted payment beloning to someone else on my account - this has now been moved.

However, my credit score is now 'Poor' again because of the amount of credit searches against my file. The problem is, I wouldn't have had all these searches if the defaulted payment wasn't incorrectly on my file (or so I believe, as I expect I would have had a better chance of obtaining the credit I required at first attempt).

Now, I'm looking to buy a car, I don't have any cash and I'm screwed because I can only purchase a loan secured against the car with a high interest rate above my original budget because I'm restricted to 2006 and newer and under 100,000 miles.

I am in contact with Equifax to try and sort this out but they don't seem to understand what I am telling them, it's a bit like banging my head against a brick wall! Has anyone had a similar experience or does anyone have any advice? Can I clear these additional searches that I wouldn't have made had I got the credit in the first place?!

Thanks,

Scott

The_Boss

I very much doubt you can clear them unfortunately but they will come off after a year.

How many searches are recorded on your file?

Tixy

The credit application searches will stay on file as they are an accurate representation as to what happened. You did make those applications, regardless as to your reason why. They are a way of you checking who has looked at your file.

But the searches won't have a long term impact on your ability to get credit. If you can wait 6months from the last search they will likely have a negligible impact on any new credit application. Even after a gap of around 4months they probably won't be a major issue.

tubsolard

There are 14 Credit Searches listed, 9 of which in the last 6 months.

I think I'm just going to not apply for credit for another 4-6 months and see if it improves and if so, re-apply for the car loan that is currently being offered at ridiculously interest rates due to my credit score.