credit rating has crashed down to 52!

jhesteman

Hi everyone.

I am a self employed builder. I have recently nearly come to breaking point after I was asked to take on a rather large job. I looked at my finances before doing it and made a mis calculation. So had to use a credit account at my builders merchants.
Anyway the customer has sold the house and done a runner with the money and is impossible to track. I was left with a debt of 22000. Spread across two builders merchants accounts. Both issued a ccj on me 4 months ago. So I now have 2 ccj's.
I have finally cleared them as didn't want to go bankrupt. However I was so close to getting a mortgage before this mishap. Is there anyway to rebuild it fast. I have a phone contract and credit card

DCFC79

Do you still have the ccj markers on your credit file ?

If you do then it may be a long while to get a mortgage. You have to be patient.

jhesteman

Hi, unfortunately I do still have them on my profile, however they have been marked as satisfied.
It's just screwed me over as I had my letter of acceptance with my credit profile being in the excellent category on experian. Now its on 52

DCFC79

jhesteman wrote: »

Hi, unfortunately I do still have them on my profile, however they have been marked as satisfied.
It's just screwed me over as I had my letter of acceptance with my credit profile being in the excellent category on experian. Now its on 52

Your credit rating of 52 isn't of importance, your credit history is. You may have a long wait so be patient.

Superscrooge

You can add a 'notice of correction' to your credit file explaining the circumstances of the defaults which might help.

http://www.experian.co.uk/consumer/faq/AR5.html