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How long does it take for your credit rating to recover?
spinningsheep
Posts: 1,056 Forumite
Just wondered if there are any people in the know here. I am still in debt arrears, but now only to the tune of £6500 or so to natwest, which I pay through AIC on a repayment plan. This I know will show as a default for 6 years from the date of the default, however, I have lots of positive history too since the defaults. Recently cleared £3500 off with the help of my parents, and I will pay them back at £150 a month, so they now show as settled too. Positive history wise I have:
Loan with Welcome = £595 left to pay NO ARREARS OR DEFAULTS
Loan with Everyday = £2000 left to pay NO ARREARS OR DEFAULTS
VISA with Cap One = £200 limit....£160 balance
VISA with VANQUIS = £1000 limit...£30 balance
Provident loan pay £15 a week. Need to pay it off quick, costs me a fortune!!
TV and dryer with Brighthouse = £60 a month between them.
4 contract phones with 02. (not all mine, 3 for family.they pay me)
Additions plus account with Barclays with Visa debit. £0 owed.
Claiming approx £800 from Abbey and A&L in charges too.
Based on my history, is my credit as bad as I think?
According to Experian, my score is 487 out of 1000, but the defaults that have only just been settled ie £3500 still show as outstanding, been onto them today and they promise to update my credit files ASAP.
Loan with Welcome = £595 left to pay NO ARREARS OR DEFAULTS
Loan with Everyday = £2000 left to pay NO ARREARS OR DEFAULTS
VISA with Cap One = £200 limit....£160 balance
VISA with VANQUIS = £1000 limit...£30 balance
Provident loan pay £15 a week. Need to pay it off quick, costs me a fortune!!
TV and dryer with Brighthouse = £60 a month between them.
4 contract phones with 02. (not all mine, 3 for family.they pay me)
Additions plus account with Barclays with Visa debit. £0 owed.
Claiming approx £800 from Abbey and A&L in charges too.
Based on my history, is my credit as bad as I think?
According to Experian, my score is 487 out of 1000, but the defaults that have only just been settled ie £3500 still show as outstanding, been onto them today and they promise to update my credit files ASAP.
CC limits £26000
Long term CC debt £0
Total low rate loan debt £3000
Almost debt free feeling, priceless.
Ex money nightmare, learnt from my mistakes and never going back there again, in control of my finances for the first time in my adult life and it feels amazing.
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