Credit help for Mortgage

j.bob

Hi everyone, just after a bit of advice

Im looking to get a mortgage next year but have a terrible credit file.

Experian score is currently 542.

i have 2 defaulted credit cards of about 8k and an overdraft default with a couple of hundred pound on. i stopped paying them when i was a student in 2012 and was unable to keep up with the repayments.

I also had a 4k debt on a credit card with barclaycard but appears to be written off as shows as green and settled on my credit file.

I was just wondering what would be the best way to improve my credit file within the next 12 months. Im hoping to offer short settlements to them all next year to settle the 3 defaults.

thanks in advance!:j

thebritishbloke

1. Stop paying for your credit score with any companies, it's a pointless number and you're just wasting £15+ a month. Just get your statutory credit report 1-2 times a year for £2.

If you defaulted on them in 2012, I highly doubt you'll be approved for a mortgage next year. Given the amounts, you're probably going to have to wait until they drop off your file in 2018 before you can realistically get a mortgage, even if you do settle them in full (partial settlement will be seen as worse).