Puzzled About credit reports

Sulaco

Hi

I am really confused with credit reports i have signed up to Experian and Equifax both say i have a really good credit score yet get refused by any lender we apply to which concerns me as soon i may have to change mortgage

I was in an IVA which was completed over 6 years ago now which dont appear on the reports so i really don't get it

can any one advise?

sacha1dog

Ignore the score that these companies give you and look at the details.

is there any record of a default in the last 6 years in the files?

any late payments?

have yo been making multiple applications in a short space of time?

Sulaco

There is a couple of late payments showing back in 2007 back account shows as settled

A couple of applications in one month but thats about it

wouldn't be so bad if you could actually talk to a human being at any of these places might make it easier


No Defaults showing at all

forgotmyname

The credit report should only go back 6 years. So anything from 2007 should have gone by now.

Have you checked the dates?

The scores from the credit agencies are meaningless. Thet wont lend you money.

Are you on the electoral roll? How long for?

The companies you applied to. Did you owe them money previously? Or linked to companies that you owed money to?



A couple of applications in one month maybe the issue. Get declined for credit and several more may seem like your desparate to borrow money.

Ant.Evs

Being on the electoral Roll at your current address is a biggie. Most mainstream lenders will decline if your not on it or have only been on the register for a short period of time.

CherlokHomes

Sulaco wrote: »

Hi

I am really confused with credit reports i have signed up to Experian and Equifax both say i have a really good credit score yet get refused by any lender we apply to which concerns me as soon i may have to change mortgage

I was in an IVA which was completed over 6 years ago now which dont appear on the reports so i really don't get it

can any one advise?

As others have said the companies that are selling you a so-called credit score don't really in some respect have any right giving you a credit score purely being.......Individual credit scores don't actually exist.

Sulaco

3 companies were named on the rejection letter from Santander Experian,Equifax and call credit so i assumed they would have used one of them if they are offering their services


Yes i'm on the electoral role and have been consistently all the time i've had my own property it was mainly Lloyds we had problems with debt wise so i have stayed away from them

Thanks for all your advice seems we are sort of stuck looking at mortgages it seems they view people better after Bankruptcy than they do IVA trying to pay back my debts seems to have cost me

Senior_Paper_Monitor

Did you place any notice of correction on your file which refers to the IVA and/or associated problems - have seen that trip a few up in the past ?

Sulaco

They show no corrections on the files when i look at them

MisterBaxter

Sulaco wrote: »

They show no corrections on the files when i look at them

Are you sure that the Equifax isn't showing a NOC on your IVA, they commonly seem to add a comment showing the date that the IVA was completed, it has a code of IVABKYLD and is an auto-load. Even though the IVA drops off after 6 years the notice has to be removed manually and takes either a phone call or a submission on the website.

bsms1147

Failing on affordability instead?