Advice needed - bad credit score & can’t switch!

superstar_d

Hi all,

I’m looking for any advice or nuggets of info I can possibly use to help my headache of a situation. I’m currently dealing with it but it’s very stressful and although I know there’s no magic wand I’m in need of some light at the end of the tunnel!

-I’ve always previously had a good credit history
-I’m on a good wage (43k)
-Never missed a payment / good payment history
-Not spending on credit cards

I’ve got 15k currently of credit card debt which I had due to some home improvements from a few years ago and was transferring it around 0% card with no problem.

I then logged on to Equifax as my credit rating had dropped to Fair (due to me incorrectly entering some details when applying for a card). I took their advice which was to ensure I was on the electoral role / registered to vote as id recently moved house. On doing this my score plummeted to very poor (this happened 12 months ago).

I’m now paying maximum interest on all 4 of my cards, trying to over pay when I can, but the payments are all so high it’s hard to do this by a great amount. I have worked on budgeting and have cut bills and spending to put as much as I can towards the debt.

Credit score has moved to the top of the poor bracket on Equifax, and fair on Experian.

Does anyone know of anything else I can do or any lenders offering any deals that might assist with my situation?

Thank you

Willing2Learn

You should ignore any of your CRA credit scores. Lenders don't use them and lenders don't see them. Lenders independently score you against their lending criteria and policies using the data held in your credit file(s), added to the data you submit in a credit application, added to the data they may already hold on you as an existing or returning customer. Basically, it is all about the data.

Can you list your debts, credit limits and the their applicable APR interest rates please.

EssexHebridean

Have you checked your history on the credit reference agencies to make sure that there is nothing showing against you that could be causing a problem? Do you have any links to another person (financially) which could be affecting you?