Rebuilding credit rating

tight_jock

Baron_Greenback wrote: »

Thanks everyone for the advice - I think I'll just keep trying every few months and maybe eventually it'll improve.

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Once your file is cleaned, it will still show that all your debts are satisfied but I think it still shows the history code...1 - 8. 1 being good and 8 defaulting. Although I may be wrong. I`m still in the process of claening mine.

The advice about using your current bank is good as they take into account more than just your experian or equifax rating. They hold average balance and activity records on your account which they takle into consideration.
Activity on the account is what they look for too.

However, it`s a long road to the six year point when everything drops off...your report.

Best of luck, let us know how you get on please.
:beer:
TJ

Baron_Greenback

tight_jock wrote: »

The advice about using your current bank is good as they take into account more than just your experian or equifax rating. They hold average balance and activity records on your account which they takle into consideration.
Activity on the account is what they look for too.

cheers for that, i'll let you know how i get on.

Experian_company_representative

Your credit report only shows your borrowing record so will not include savings and investments, nor will it include details of your current account balance unless you are overdrawn.

Using direct debits can help you building a good credit history because it helps make sure you do not miss your monthly payments.

Hope that's useful.

cbpolgara

I work in an insolvency dept for a firm of chartered accountants, and the one thing we tell bankrupt's to do is to obtain a copy of your Certificate of Discharge from bankruptcy, which you can get from the Court for about £60, and file that with the credit reference agencies. It seems to help alot.

fermi

cbpolgara wrote: »

I work in an insolvency dept for a firm of chartered accountants, and the one thing we tell bankrupt's to do is to obtain a copy of your Certificate of Discharge from bankruptcy, which you can get from the Court for about £60, and file that with the credit reference agencies. It seems to help alot.

As much as it can anyway.

Defaults should also be marked as no later than the date of the bankruptcy order, and accounts should be marked in some way to indicate that they are satisfied no later than the discharge date.

See: http://www.debtquestions.co.uk/debt_forum/viewtopic.php?t=18857

for details of correctly updated CRF's, and how to make sure that creditors comply with the ICO's guidance on this.

gail66_2

I did a volantary bankruptcy in Dec 2006, and was discharged in June 2007, I'm having the same problem, I applied for the very high interest credit card and was refused, even my bank won't let me upgrade my basic account to one with a 'Solo' card, and you can't go overdrawn with that, I mean, even my 14 yr old son has one! I think I'm going to be punished for having a spendthrift ex for a long time, I wish I'd had the bottle to say no to the spending all those years ago, and I'm still getting letters from creditors now.

Fred333

I have been dealing with bankruptcy for a while now and it is not easy to clear your credit rating up in a fast manner. It takes a long time.