Credit scoring/ rating process

leesteath09

Hi all been searching the net for some answers without luck so hoping sombody can assist me.Im currently in an iva with just 3 months left to go before completion and after advice and some answers.

Does my credit score still rise/fall during iva as im paying all my bills/direct debits on time but not seeing any increase in score over 4 years of paying, im told keeping on top of this increases scoring.

To rebuild my credit score im told to take credit and make sure its repaid on time, by doing this can anybody tell me what score you get for evrey time you make payment on time in full and is this recorded every month in your favour or is it a totally diffrent process.

How are the scores awarded, are they single digits or in the tens/hundreds per transaction.

How fast can I rebuild credit score.

Many thanks for looking over these hopfully somebody will be able to advise me, I understand that iva stays on file for 6 years but can start rebuilding after 5.

redcard

Why are you in such a rush to get into more debt?

Why not just live without it for a while?

leesteath09

Hi not in a rush to get into debt, in a rush to rebuild my credit score, was young and stupid, now nearly 5 years on I have a little girl good job and wife and want to move forwards starting with getting onto the property ladder, now at 30 im worried that rebuilding is going to take too long.the credit Im looking at is credit cards, small loans etc the sort that I no longer need or want to use but the ones most likely to build my rating up quicker, ie credit card with small limit to use for shopping instead of cash, my iva as taught me a valuable lesson one wich i never want to repeat again.

[Deleted User]

The score is fictitious and irrelevant. There are no 'points per transaction'.

You just need to aim for a good history on an ongoing basis.