Need some advice with rebuilding my file

deanogtv

New to the forum I’m looking for a little help.
I have a plan to obtain a good credit rating within the next 2 years so I can stand myself in good stead to getting a decent mortgage deal as and when I’m 40.
I have very little credit history and what I do have is very poor. Mainly down to a default 4 years ago with a bank circa £900 when they closed my account and this has been outstanding for 4 years now. I’m now in a position where by I can start to pay this off by means of a nominal payment each month to clear the debt as quick as possible.
My question is, would this monthly payment or willing to do so show on my credit file as a positive mark??

Also I’ve taken the steps to start showing good credit attitude by keeping my credit card and bank account in positive equity and already its showing signs of improvement.

Also I was wondering how joint credit works. I recently marriage and our utilities account like our edf bill is in both our names and doesn’t show on my credit file. Would there be a benefit to having this solely in my name to show the regular payments made?? If so how do I get this showing on my file??

National_Debtline

Hi Deanogtv,


Your overall credit rating is made of several things, such as your age, whether or not you are a homeowner and/or on the electoral role, anyone you have any financial associations with and (of course) your credit history.


An outstanding default on your credit file will be negative and payments to this debt may be recorded as an Arrangement in Place, but unfortunately, it isn't possible to say by how much (if any) that would improve your overall rating. However, the other way to look at that is that, if you are not paying anything that won't help either.


Utility debts don't always report to the credit agencies (especially if you are up to date). So the fact that this bill is in joint names wouldn't necessarily create a financial association between you and your wife or make any difference to your credit file. A financial association allows each credit file to influence the other. I would suggest checking all 3 credit files to check you are on the electoral role and if you have any financial associations. You may also like to have a read of our Credit File Factsheet


Laura
@natdebtline