Help to raise my credit score?

holly_t

Hi there

Thanks for reading I'm currently scraping my way slowly but surely out of debt. I'm no longer with a DMP and my debts are manageable, I'm also making regular payments on time. How long will it take for my credit score to build? Are regular payments enough?

I know a common one is to use a credit card and pay back regularly, but I can't get a credit card anymore because of bad credit! It's such a catch 22. I'm getting married next year and want to be eligible for a mortgage at some point.. just want all of this to be behind me.

Can anyone help?

On another note, I need to rent somewhere with my partner in September but am worried my credit score will effect this - will my partner as guarantor be enough?

Thanks

Tixy

Hi

Do you know what your credit files show currently (not the score but the actual data on the files)?

How quickly things will improve depends on what shows.

If your creditors issued defaults whilst you were in the DMP then they will stay on file for 6years from the date of default.
If the only showed missed payments/payment arrangements then they will be visible on file for 6years from when you settle the account.

Do you have any CCJs?

Regarding renting - a rental credit check cannot see the data from your credit account history, it just looks at public information like CCJs, any record of bankruptcy/insolvency etc.

rockm87

Just keep going, sometimes patience is the only thing that will make your credit file improve.

Do a free trial with experian, and check all your details are correct. You can also identify negative effects on your report, and maybe able to make amendments.

holly_t

Thanks both - 6 years...eesh. Oh well, I guess I've got to roll with it. I've checked my report and yes, it shows up as default in some months. I don't have any CCJs does that help my case with rentals etc?

Thanks

Tixy

When you say it shows as defaults in some months - do you mean some of the accounts show the whole account as defaulted? (this will show in the main part of the account entry with a default date) or do you mean that within the payment history it is showing some months that payments were missed (i.e. payment indicators of '1' or '2' etc)?

Having CCJs would make it hard to pass a rental credit check, so not having them definitely helps.

fatbelly

There's info on bad credit credit cards here:

http://www.moneysavingexpert.com/credit-cards/bad-credit-credit-cards

I've known someone get accepted for a Vanquis card while in a debt relief order (don't ask) so you'd have to be pretty bad not to get one of the bottom end cards, maybe history of fraud or something.

almamatters1985

With regards to renting, as long as you don't have CCJs, an IVA or have been declared bankrupt you'll pass the credit check.

They can only see publicly available information about you and cannot access information about missed payments, defaults or whether you're on a DMP or not.

Hope that helps!