How can I fix my rating?

MrsWinters

After living absolutely skint for the last year, I can see the light at the end of the tunnel and am 1 pay day away from owing £0 to any loan companies.
I will have my overdraft to pay off, but that's manageable and doable within 2 months. It's arranged and I am not over my amount.
I know that it will be wishful thinking that within a year I would be able to afford my own house, however, I do hope it's not within the distant future.
How can I fix my credit score, and how long does it take once it's as messed up as mine?
I haven't had a report, ever, but I do know it's bad.

Bailey101

It takes 6 years from the date that the adverse mark, ie a default, was recorded for it to disappear from your credit file. The first thing you should do is contact the credit agencies and get copies of your report, so you can see exactly where you stand.

eta. If you're credit isn't too bad, you could try getting a credit card from a company like Vanquis or Capital one and use it and pay in full each month - this would eventually improve your credit but it'll take a while. If you can't get a normal credit card, there are pre-pay cards that can help your credit, there's section on this site about them somewhere.

xx

matttye

In addition to what Bailey101 says, if you haven't already got one a phone contract may assist.

One month rolling contracts tend to be easier to get than 12/18/24 month ones and you're not tied in either, so double bonus.

MrsWinters

Thank you!
I do have a phone contract, which I pay monthly and seeing as the Mr has spent most of the year stateside, they've been pretty big phone bills too!

As soon as my last debt is paid off I'll be on to the credit ratings agencies. It would be interesting to see. I've never had a CCJ or anything like that, just late payments here and there. Hopefully it won't be as bad as I think it is!

gb12345

If it's just a few late payments and they are not too recent then one of the "bad credit" credit cards should be doable - as Baily101 says, just make sure it is paid off in full each month.

Also, don't bother fixating on the credit score - it is just a meaningless number that the CRAs try to use to justify the fees that they charge. Concentrate on making sure that your credit history is correct and that you get no more red marks on it.