Where do I start?! Help needed please.

gemmylou86

Hi!

I'm just going to start with my credit story and hope someone can give me some advice please?

When I was 18 I was irresponsible - I had no real concept of how my credit file would affect my future and as a result took anything and everything that was offered to me. I was in a good job but living beyond my means and got into a lot of debt (credit cards, store cards). I stupidly signed up with a debt management agency without really researching them, paid a large fee (that I could ill afford) and they promptly fell off the face of the earth never to be seen again.
I paid what I could and I'm embarrassed to say I ignored the rest.

I'm now 27 and the majority of the debt has gone from my credit file, and all that is there are many fully repaid Wonga loans and a provident loan.

Last year I was made redundant and I'm currently looking for work that I can do around my 15 m/o daughter, so we are struggling on benefits.
I have a payment plan in place with provident which I am sticking to, I am also paying a debt collection agency for some outstanding council tax arrears.
In addition to this I have 2 catalogues with small limits that I have paid on time.

However my credit rating is still shockingly poor. I have no desire to take out new lines of credit in my current financial situation BUT I don't know how to build my score.
On experian I have one red and one yellow and about 18 green, if that makes sense to anyone?

Do I just wait it out? I can't pay more than I already am - is there light at the end of the tunnel?

darren_clarke

forget your credit score, just carry on paying your debts and it will go ok in its own time,

gemmylou86

Thanks Darren. I'm going to continue either way and hopefully when I'm earning, I can pay more.
I just get a bit panicky, thinking I'll never be in a position to, say, get a mortgage in the future!

RAS

Hi

If at any point in time you have not paid an unsecured debt for 6 years (5 years in Scotland) it is statute barred so you are not required to pay if the creditor or a DCA gets in touch.

That does not include debts for Council Tax however

gemmylou86

Hi RAS, all but one of my old debts have gone from my credit file. Just checked and I have 54 items - 50 are green and 'settled' one is green but doesn't say settled, one is red 'defaulted' but that should have dropped off my now (the 6 years were over last year) and I have two orange 'one missed payment' for my payment plan with provident - although I've confirmed with my provident agent that I am up to date. He said its the first week of the payment plan goes down as missed because it wasn't the full amount.

I also have several recent searches (I applied for a Luma card - declined)