My Current Status - Your Thoughts

LawAbiding

Hi,

Hope you are well.

Some may have seen my thread in the mortgage section about selling my house and buying another etc. But I wanted to get advice regarding my credit report specifically.

Time to let the information do the talking:

Defaults:

HSBC:

Current Balance: £1292
Default Date: 09/09/2012
Current Arrangement: £10 per month

Shop Direct Finance:

Current Balance: £773
Default Date: 02/05/2013
Current Arrangement: No arrangement

Active Securities Ltd:

Current Balance: £430
Default Date: 02/12/2012
Current Arrangement: No arrangement

Barclaycard:

Current Balance: £0 (Marked as Settled) (Should this not be Satisfied?)
Default Date: 18/03/2015

Halifax Credit Card:

Current Balance: £0 (Marked as Settled) (Should this not be Satisfied?)
Default Date: 10/12/2012

Lloyds Bank:

Current Balance: £1244
Default Date: 06/06/2014
Current Arrangement: £10 per month


As well as the balances, I have on the Defaulted Account, I have these other balances:


Capital One:

Current Balance: £292
Credit Limit: £500
Arrangement: Paid off each month, then used throughout month

Vanquis Credit Card:

Current Balance: £120.86
Credit Limit: £2250
Arrangement: Paid off full balance this month, remaining balance to be paid next 4 weeks.
The card will not be used, considering destroying card but keeping account open

O2:

Current Balance: £352
Credit Limit: £0
Arrangement: I assume this is my device plan with o2 for my mobile phone?

Newday Ltd (Marbles Credit Card):

Current Balance: £0
Credit Limit: £2400
Arrangement: Full balance cleared this month. Considering destroying card to prevent use, but keep account open.

Santander (Authorised Overdraft):

Current Balance: £149
Credit Limit: £150
Arrangement: This goes over every month

JD Williams, SimplyBe Store Account:

Current Balance: £242
Credit Limit: £1300
Arrangement: Minimum payment each month, considering clearing over next few months


My credit card utilisation is currently showing 115%, but this was based on the two big credit cards being full, this should change at my next Credit Report update and hoping it reduces below 50%?

6 Months since last late payment. No late payments will ever be made going forward.

Been on electoral roll for 14 years.

No credit searches in past 12 months

Credit Score: 273, but I am ignoring this based on advice from this Forum.

So now you have all my data, where can I improve?

Is it worth paying the Defaulted accounts off, even though some of them are dropping off this year? e.g. HSBC over £1.2k owed, but dropping off next week.

Any other advice on improving?

I would like to apply for a £170,000 - £190,000 mortgage in the next 12-24 months.

Thanks in advance!

[Deleted User]

LawAbiding wrote: »

Some may have seen my threat in the mortgage section about selling my house and buying another etc.

Sounds interesting. What was your threat?

The arrangements are a problem. If these have been ongoing for sometime, or will be, look to get these changed to defaults, so that they drop off your files quicker.

Then, it's probably worth settling the most recent defaults so that once the older ones have dropped (though you still need to pay them), your file will only show settled defaults.

Within that strategy, focus on the highest interest bearing debts.

The settled markers are correct.

Willing2Learn

The accounts are marked as 'settled' if there are no defaults, 'satisfied' if there was a default.

LawAbiding

Deleted_User wrote: »

Sounds interesting. What was your threat?

The arrangements are a problem. If these have been ongoing for sometime, or will be, look to get these changed to defaults, so that they drop off your files quicker.

Then, it's probably worth settling the most recent defaults so that once the older ones have dropped (though you still need to pay them), your file will only show settled defaults.

Within that strategy, focus on the highest interest bearing debts.

The settled markers are correct.

woops! Thread, not threat!

Yes, the arrangements are very small amounts, have been going on for years, I have never missed on them, as they have been so low! These are all Defaults?

Ok, thanks, concentrate the highest monthly amounts with the newest Defaults and allow the others to drop off.

LawAbiding

Willing2Learn wrote: »

The accounts are marked as 'settled' if there are no defaults, 'satisfied' if there was a default.

Two of them, have a D marking against the month and year, but show as "Settled" Rather then "Satisfied"

I have tried to copy links to screenshots of what I am seeing, but it will not allow me.

Willing2Learn

That is strange. I just checked via google that I was correct and it seems I am. 'Settled' is better than 'satisfied' as the latter means there was a default (or CCJ) balance that has been cleared.

LawAbiding

Willing2Learn wrote: »

That is strange. I just checked via google that I was correct and it seems I am. 'Settled' is better than 'satisfied' as the latter means there was a default (or CCJ) balance that has been cleared.

If I could post screenshots, I would, I found it strange too:

Barclaycard:

Shows a red D mark at: March 2015
Then "Settled" April 2015, with balance of £927, but current balance showing £0.

Halifax Credit Card:

Shows a red D mark at: December 2012
Then "Settled" February 2014, with balance of £0,

I do not remember paying anything to Barclaycard to clear the balance.

I remember kicking off with Halifax about unfair charges, and asked for the default to be removed, they refused and offered to refund all charges and interests, I took this option.

[Deleted User]

It's likely it's either been sold off to a collection agency or they've written the debt off

LawAbiding

!!! wrote: »

It's likely it's either been sold off to a collection agency or they've written the debt off

Ok thanks, I doubt it's been sold to someone else, or if it has, they have not contacted me.

May have been written off, but is the Default still valid?

[Deleted User]

Yes the default is still valid as it is a true indication as to what happened to the account.

Why would it not be valid?

LawAbiding

!!! wrote: »

Yes the default is still valid as it is a true indication as to what happened to the account.

Why would it not be valid?

Sorry, was looking for a technicality......