Help with credit file needed

jonjon123

Hi all, hope you are all well.

Im in a bit of a pickle at the moment, as i cannot understand whats going on with my credit file and hoping someone can point out the answer and help me out please?

Approximately for 2 years now I have been paying 2 companies back with an ''arrangement to pay'' which has been agreed, payments have been on time and it didn't stop me obtaining credit, because I applied for a loan and car finance at the time and everything was successful, but the payments are still ongoing.

2 years have now passed, the current agreements with these 2 companies are still in place, and everything else is up to date and on time with all my other credit commitments, yet now i am being declined everywhere and cannot obtain credit?

Nothing has really changed in 2 years, the payments are still being made, all my HP and loans are up to date and on time, so cannot get my head round why this is happening as surely things should have got better, not worse?

I have contacted the credit reference agencies and they have told me, the only 2 things that are showing up, are the arrangement to pay companies that could be inpacting my credit file, but how does this make sense when they were there 2 years ago, just as they are now, yet obtaining credit was fine then and now it's a blooming nightmare?

Really confused as to why, as it doesn't make sense, so can anyone please advise?
Its not like anything new has appeared, as it was there all along.

[Deleted User]

Lenders will have their own criteria for providing credit (or not) to people.

How much are the current debts?

What other current credit do you have including balances?

Are you on the electoral role?

What's your salary? Dependents? Other salaries?

Shakin_Steve

The only thing that has changed from 2 years ago when you took out a loan and car finance is that you now have a loan and car finance on your report as well as the arrangements to pay. Lenders may think you could have difficulty repaying.

jonjon123

!!! wrote: »

Lenders will have their own criteria for providing credit (or not) to people.

How much are the current debts?

What other current credit do you have including balances?

Are you on the electoral role?

What's your salary? Dependents? Other salaries?

The current debts add up to about £20k in total.

Yes i am on electoral role and my annual salary is around 24k with 1 dependant, so do you think that maybe it's not the arrangements to pay that is causing the problem, more the fact that the debt level is too high?

I was going to try and pay off these 2 arrangement to pays, as if they are causing issues, I would try and pay them off, however like ive said they didn't cause a problem at the time, so trying to pin point as to whats causing this?

jonjon123

Shakin_Steve wrote: »

The only thing that has changed from 2 years ago when you took out a loan and car finance is that you now have a loan and car finance on your report as well as the arrangements to pay. Lenders may think you could have difficulty repaying.

Please see my post above.......

That's what I was thinking.......

Is it not necessarily a case of the arrangements to pay that are causing problems, more due to the fact that the debt level is too high, or a bit of both?

jonjon123

I did forget to ask......

If everything is up to date and no payments have never been missed, which is the case on my file, then why when i look on experian it shows approximately 900 out of 999 and when i looked on clearscore it's only about 285 out of 700, which reflects poor?

Doesn't make sense to me. I almost feel like im being well behaved, doing everything right, yet my score isn't reflecting this, so im asking myself why i am even bothering.

[Deleted User]

It's due to the scores being made up. They don't reflect your credit worthiness or have anything to do with how lenders view you. You'd do better to read tea leaves.

If you can settle the defaults, do so.

Shakin_Steve

jonjon123 wrote: »

Please see my post above.......

That's what I was thinking.......

Is it not necessarily a case of the arrangements to pay that are causing problems, more due to the fact that the debt level is too high, or a bit of both?

I'd have had a job seeing your post before I posted mine cause mine was posted a day before yours.

cjmillsnun

So you have 2 unsatisfied defaults with arrangements to pay, and non mortgage debt that is 4/5s of your salary.

I know what I would do if I was a lender.

You have a serious debt problem.

If you can pay off the defaults, do so, then try and overpay on the others. Your biggest problem is the level of debt. It is unsustainable.

jonjon123

cjmillsnun wrote: »

So you have 2 unsatisfied defaults with arrangements to pay, and non mortgage debt that is 4/5s of your salary.

I know what I would do if I was a lender.

You have a serious debt problem.

If you can pay off the defaults, do so, then try and overpay on the others. Your biggest problem is the level of debt. It is unsustainable.

So you feel it's got nothing to do with my credit score, or the fact that im paying 2 arrangements to pay?

Are you saying its more of a case of my debt level is far too high against my salary?

I'm still a little unsure because when i applied for the loan for debt consolidation, surely this is taken into account as you are paying off these debts, so therefore arent necessarily getting into more debt?

jonjon123

Oh, another thing that has just sprung to mind........

I have about 10 debts in total.

3 of them are my car finance, my loan and my credit card. These are all on time, not behind or in default and obviously reflect on my credit file and the other 7 are late payments, including the 2 arrangement to pays, so my big question is.............

Why do 2 of my arrangement to pays, also show up on my credit file, however the other 5 are also being paid back, but they do not show up AT ALL?

I cannot understand why some are there and some are not?

They are all debts at the end of the day.