How long does it take to rebuild my credit score for renting?

Emma3729

Hi
I am a single mum to two children and I'm starting work in September assuming I pass my third year at university this year. I already have a job in writing with a salary of 22k after tax.

I haven't checked my credit report yet but I can only assume it isn't great, since all this happened I haven't done anything else to effect it negatively but nor have I done anything to improve it really.

The story is when I was 18 I fell pregnant with my son and I was in the first year of uni. My partner was quite a bit older than me and already had a full time job and his own flat. When my son was born we both moved in with him and I continued at uni. I got full student loan (as he was earning under 24,000) and he got his wage and we managed fine. At that time I had one credit card which I spent on occasionally but would ALWAYS keep to my repayments, I never missed one.

When I was 19 and in the start of my second year at uni I fell pregnant again. Things went ok for a few months until me and my partner began arguing, we split up and he told me I had to leave, with my son and pregnant. I moved in to my sisters house. My sister was living in France with her boyfriend and was intending to rent the house out but I moved in and agreed to pay her £650 a month in rent.

At first I was managing to pay this ok, although well in to my student over draft and getting nothing financially from my children's dad. I then had my daughter, she was born 11 weeks early with a hole in the heart which meant she was in hospital for months, I deffered my third year at uni. This meant I no longer received student finance and for obvious reasons couldn't work.

I claimed income support but even with child tax etc this wasn't enough to cover rent, bills, car, food, clothing etc. I took out 3 credit cards and in total added up got in to £700 debt on credit cards. I didn't pay any monthly payments as couldn't afford them, must have been for around 9 months I didn't pay anything. I also took out a £300 loan which went to £500 with interest. In addition I took out 2 catalogs and there debt was around £400. I missed all of this payments for about 9 months. However I did eventually send them a letter notifying them of my circumstances, they asked me to complete a budget sheet and offer them a weekly payment.

In the end I moved back in with my parents, my parents had recently sold their house to buy a cheaper smaller one and they payed off all my debts which came to around £3000 (with the overdraft) which I'm so grateful for. I then started uni again in September which I have done well at. I am now financially stable, I have zero debt and I am not in my over draft either. I've continued living with my parents and now have around £2500 in savings from saved money for part time work.

I want to move out a few months after I start my job as here is becoming increasingly cramped and I am 22 now with two kids of my own so think it is time. I am however very worried that this event will still have a bad effect on my report and stop me from getting somewhere even though I have no debt now and will have a job with a good salary. Is this likely? Would the fact that I sent the creditors details of my circumstance have done anything to my credit score?

[Deleted User]

I think you need to check your credit score. We don't know how long ago all this happened, or whether the debts went to CCJ status, or are just listed as bad debts on your credit score. Normally the credit check paid for by a LA or LL will only show CCJ's.

I suspect that as your parents paid the debts off, they won't show up as CCJ's.

You can rebuild your credit score. There is advice on how to do this online. You will probably have more success with renting applications once you have started your job.., possibly even more once through the probation period.

I know its !!!!!y of me, but did you proof read your post? I do hope you aren't looking for work that involves writing lol. For example, you use an overdraft, you don't get into an overdraft. Its not a bed.

pmlindyloo

Some useful advice here:

http://england.shelter.org.uk/get_advice/private_renting/renting_privately/how_private_landlords_check_tenants

As already said check your credit rating (in the link)

Most landlords only look for CCJS/bankruptcy so even having a low credit score may not mean that you will be refused.

Kynthia

Don't sign up for expensive memberships to credit agencies. You can see one of your credit reports for free with Noddle.

Guest101

LLS and LAS only see public records and credit scores are make believe, you'll be fine as long as no CCJs / bankruptcy