684 Experian credit-score + one default

phelun

Flipping through topics on the site i dont see a topic tht fits my situation. As a student i took a loan from money shop £280 in Jun 2012 . Lots of reason why i could not make payment back, Wont bother telling the long story(More of ignorance,never knew i was heading for difficult days ahead) . Made the payment just January 2015 after i was adviced by a friend to register with Experian.

Presently ,my score is 684/999 which is still in the POOR zone plus a default from MONEY SHOP loan as a student . Financially i feel much more confident NOW,than school days.My anual income at the moment is £30000. So my question

1. What can i do to further improve my situation as i got declined by Vanquish CC ?
2. My bank HSBC have adviced me not to apply for any credit card from them at the moment,as it will further dent my credit file .
3. Will a goodwill letter to MoneyShop help me here ?
4. Is there any loan company that SINCERELY help you improve your credit history?
5. Any MIRACLES to get rid of the defaults except the 6yrs long wait ?

Will appreciate your sincere answers based on my circumstances..

Warmest regards
Felix

[Deleted User]

What do your credit files say apart from the default? Are you on the electoral roll?

If Vanquis have rejected you, I would give it 6 months and then try someone like aqua or Cap One, although Vanquis is probably the easiest card to get.

Ignore the 684. It means nothing.

phelun

Thanks zx81 for the swift response .

Yeap i am on the electoral roll and it also reflects on my credit file.Plus other useful information . And yes i have put a pause on evey credit card applications till the next 6months.

But i still believe after the 6months wait the default will still be there, how would Vanquish reevaluate my applications by then?

Will keep my mind of the score as you have adviced .

Thanks once again

[Deleted User]

The default will still be there, but it will be 6 months older, so will have less impact.

pogofish

phelun wrote: »

Flipping through topics on the site i dont see a topic tht fits my situation.

What about the Credit Files and Ratings Forum then?

As far as I'm aware Experian are not a credit card provider themselves?

phelun

Hi pogofish ,my appologies ,i only noticed i posted it in the wrong section after a while. I was looking for a way to move it to the credit file and ratings forumbut could not work it out.

Any tips on how to do tht will be appreciated .

Cheers

pogofish

Send a private message to a board guide and they will move it fairly quickly - fermi is one and you can link directly to him from the Forum Sticky.

Dobbibill

phelun wrote: »

As a student i took a loan from money shop £280 in Jun 2012 . Lots of reason why i could not make payment back
We all live and learn, old and wise normally follows young and foolish

Made the payment just January 2015 after i was adviced by a friend to register with Experian.

Well done paying it off. Please don't get trapped into the monthly subscription with Experian though. If you've done a free trial, cancel it before the trial period ends

my score is 684/999 which is still in the POOR zone
As pointed out by zx81, irrelevant

plus a default from MONEY SHOP loan
This is factual history

1. What can i do to further improve my situation as i got declined by Vanquish CC ?
As you are on the ER, it's just a waiting game now

2. My bank HSBC have adviced me not to apply for any credit card from them at the moment,as it will further dent my credit file .
Follow their advice, they have an existing relationship with you so will be probably be basing their information on internal data.

3. Will a goodwill letter to MoneyShop help me here ?
Probably not

4. Is there any loan company that SINCERELY help you improve your credit history?
No, so please don't waste your money paying for it

5. Any MIRACLES to get rid of the defaults except the 6yrs long wait ?
Sorry, I'm not really the bearing of much good news for you am I but no, it is just a waiting game now

I've addressed my honest answers to your questions in red above.

DB

phelun

Thanks Dobbibill ,appreciate ur detailed and sincere answers .Will brace up for another long wait .

Waiting game it is ..

Candyapple

What is the actual date of your default in your credit files? Because it will be removed 6 years from then, not January 2015 which was the date of your last payment.

So assuming if you stopped paying in 2012, they defaulted you in 2012? So your default could possibly be 3 years old already?

phelun

On my credit file ,they defaulted me on 8th Aug 2013.

Interestingly , so after the 6years wait ,do u have to start building again a good credit history or how does it all work ?

Sorry if my questions keep coming.. Just trying to understand. !