Haveing trouble getting a loan, credit agencies have fairly differenct scores

Nummy01

Hi there I would like to get a loan or maybe a card with a lower rate so i can pay off my card debt faster and have a bit more cash flow, its about £2400. I have been paying off my outstanding debts , social loan and a loan I defaulted on when I was off work and on ESA. They have been paid off for about a 9 months now and I pay double what my minimum payment is on my cards. Equifax has my rating at fair and with only minus being the default on my loan, but the other ones have it at very bad. What can be done to shift the debt faster and have a bit more in my pocket monthly? I also do the credit builder add on with Cashplus and that has not seem to have done much.

[Deleted User]

All the scores are meaningless, so can be ignored, Lenders don't see or use them.

What appears on your files? What debts, limits, balances you do you have? What's your income? Any missed payments apart from the default? How old is the default?

You'll need to review each of the three files separately.

Nummy01

Total limit for the cards is 3500, the only thing on my file is the default on my loan. my income is 14300 and only one missed payment for Jacamo 2 years ago.

[Deleted User]

When was the default?

What are your current debts?

Nummy01

Current debts are just the cards at about 2400 in total and the default started in feb 2015 and went into arrears in jun2015 then I paid it off in full Oct 2016.

Thrugelmir

Nummy01 wrote: »

the default started in feb 2015 and went into arrears in jun2015 then I paid it off in full Oct 2016.

That's the reason you'll struggle to obtain finance at competitive rates. If you really want to make inroads now. Become a miser for a few months.

System

You're going to struggle to get anything like decent borrowing with that amount of debt to income ratio and a history of defaulting.

Work at reducing your outgoings and paying off the debts as fast as you can by making minimum payments on all of your debts except the one with the highest interest rate which you pay off as much as you can then move on to the next one.