Declined for OD with Lloyds - Rebuilding Credit or Trying

glentoran99

mistertml wrote: »

Hi

Thanks

I was hoping to pay off one at a time in full. As I have committed to pay £150.00 each month but do have some spare cash some months so don't want to commit to say £300.00 per month as it wont always be the case.

thanks

Personally i would be offering F&F to vanquis and barclaycard, starting at 25% with 1k you will likely get them both cleared with some to spare

mistertml

glentoran99 wrote: »

Personally i would be offering F&F to vanquis and barclaycard, starting at 25% with 1k you will likely get them both cleared with some to spare

Is it best to make the offers in writing or can I call all the creditors?

Thanks

wubbles

mistertml wrote: »

Is it best to make the offers in writing or can I call all the creditors?

Thanks

Yes.

That's what I would do.

DCFC79

mistertml wrote: »

Is it best to make the offers in writing or can I call all the creditors?

Thanks

I'd do in writing

dumpyboy

thebritishbloke wrote: »

You shouldn't be taking on anymore credit whilst on a DMP. If you do dip into the overdraft and pay it off straight away, it can be seen as unfair to the other lenders and they may choose to revoke your AP.

When you say revoke your AP do you mean place a default or return to proper payments

thebritishbloke

dumpyboy wrote: »

When you say revoke your AP do you mean place a default or return to proper payments

If you've an AP, then you've already defaulted.

adindas

Gosh, Some people never learn the lesson .....
When something happen in the future they blame the bank again why do you give me the loan after looking into my previous history ...

mistertml wrote: »

Hi all

As some of you are aware I am on a DMP and owe £12k which I am hoping to clear in the next 4-6 years depending on how much I can over pay by each month.

I am trying to rebuild by credit score and have the following issues:

5 defaults ending between 2015-18
Hfx - Idem - £4900
Barc - £2500
Vanq - £1100
Marlin - £1500
1 default has had balance paid last week.
Cap - paid
2 accounts with AP which I am trying to get the creditors to default.
Next - £1400
Barclaycard - £200

Also waiting on CCA on all apart from Marlin as this was for a O/D with Hfx

I tried to apply for a OD with Lloyds TSB whom I have been with for 5 years now and they referred me to call customer services and then declined me without asking any further questions. I don't need the OD as have some money saved for emergencies (£1k)


I tried to explain to the advisor that the reason why I wanted a £50 OD with them was to improve my credit score and nothing else and was wondering if he could advise me or point me in the right direction. All he seemed to be interested in was to get me into the branch to speak to a "helping hands" advisor and then take it from there.

Please can anyone advise on whether I should make the appointment or is this a waste of time?

Any other help and advice on how to rebuild my credit would be of great help.

Thanks

TML

mistertml

Hi

I was only trying to see if it would help improve my credit file for when the defaults are removed.

But I now know that whilst I have defaults I can't get a mortgage for a larger house or anything else.

Which brings me to settlements..

I'd like to know how much is classed as a lump sum to be able to approach the creditors to make full and final offers.

I can get hold of 10% of the £12000 I owe but not sure if I should make any offers.

Any advice would be a great help

Thanks in advance