Credit Report

Mococo

Hello

I'm looking for some fairly basic info and would be very grateful if anyone can help.

I have my credit report and I want help with seeing whether I can improve my score. (Poor!) I have some DMPs so it's not straightforward and what I'm asking is whether there is an actual type of person I could find who would go through it for me.

I've spent many happy hours today online, trying to see what to do, but it is so complicated, I would love to find an advisor who could do it for me. Or even advise me that it's not worth doing!

Is there such a person and, if so, how much would they be likely to cost?

Reason for asking this is to try and get a clear picture of what my report means and the possible implications for getting a mortgage in the future.

With many thanks, if anyone can suggest anything.

[Deleted User]

Firstly, ignore the score. It means nothing.

The terms of your DMP will probably mean you cannot take on any more credit. What is the situation with your current debts?

Mococo

Thanks, I am pretty much ignoring the score.

Current debts are on DMPs from 2011. They are £5 a month and, in 2102/3 there were a few months where they weren't paid. It may be worth challenging this as I didn't deliberately not pay - mess with references on the site.

But that's not the main thing, it's more that I can't face doing all this myself!

Am grateful for your response so far.....

[Deleted User]

Ok, you don't need to pay anyone to help you. The rules are simple, once you are out of the DMP. You need to demonstrate that you can use credit responsibly.

The best way to do this is to get a credit card, use it regularly and pay it off in full each month. Don't miss payments, don't go overlimit and don't max it out.

Stay away from pay day loans, make sure you're on the electoral roll and don't spend money you don't have.

That's it basically. Lenders want to see that you can be trusted to pay back money that you borrow.

Thrugelmir

Mococo wrote: »

With many thanks, if anyone can suggest anything.

Focus on settling your debts and managing your personal finances better. A credit file is merely a reflection of you as a person. There's no magic secrets.

Mococo

Okay, thanks, I hear you both.

Do you happen to know the answer to the following?

Will the DMPs end after six years from when they were arranged? Or will the small defaults on them extend the period?

Mococo

Also, I read somewhere that you should close any accounts that are showing if you're not using them. There are a couple on my report, both of which I thought were closed. I'm certainly not using them. How can I get them removed and should I bother?

Mococo

And, if I was in a position to either up the payments on the accounts a bit, or even clear them, would that be a sensible thing to do?

There you go.... I wasn't going to ask all these questions, but since you're helping..... and I am grateful.... I might as well keep asking them

DCFC79

Yes I'd get accounts closed you don't use, otherwise it means its available credit eg you could spend so much on the credit card and be in a position to not pay.

Have a read of this
http://www.moneysavingexpert.com/credit-cards/cancel-unused-cards

Mococo

Anyone else available and willing to have a look at my questions, please?

fermi

---> How long will my DMP affect my credit report?