Debt issues amongst others.

floorspeed_2

BabyStepper said:

Hiya
I just read your diary and wanted to say congratulations on doing so well reducing your debt and keeping on the straight and narrow. 
Just a thought about credit ratings, they change and get updated regularly, so its worth keeping an eye on yours online if you can. I went from bad credit to pretty good credit quite quickly once i had the debts under control and started overpaying things. It doesn't need to be amazing, just good enough to get a 0% transfer deal. 
Also, I'd include the flat deposit fund that your girlfriend looks after in your statement of affairs. It's yours too. And all the advice about getting her to sort out her debts is good.
I've subscribed. :-) 

Thanks for the support and the sub! Yes I might need to attack her with the advice when it’s a good moment. 

Sarahwithlove

Well done on the overpayments you have made so far. I'd suggest tackling whichever is the next highest interest rate and go from there. Is the loan one of those payday loans because they are always high interest and never look good on your credit file. 

floorspeed_2

Sarahwithlove said:

Well done on the overpayments you have made so far. I'd suggest tackling whichever is the next highest interest rate and go from there. Is the loan one of those payday loans because they are always high interest and never look good on your credit file. 

Yeah that’s my next priority Sarah and that’s my vanquis card which has the highest interest. I want to get rid of that card next week.   .

The bamboo loan is not a payday loan. I have given explicit instructions to many of the payday loan company’s not too lend to me again! Of course it’s probably a phone call away lifting other barriers  to apply but the reality is that’s better than a click away for myself.

its Saturday now and I have a few beers here and I am not going out because of my leg/foot it looks like I won’t be getting a takeaway. With that in mind the money set aside for living expenses might end up on debt after my day off. I ended up saving 35 euros last week from my previous weeks withdrawal of 110 euros.

some that follow maybe wondering why I am not spending lots on food and other things but that’s covered by my employer at the moment.

with regards to my credit file I check it probably twice a week or when I get updates on settled accounts, it always seems to be 3 months out of date and always has massive errors on it. I guess you get what you pay for.... free credit report equals a free assumption on your credit worthiness.

Sarahwithlove

floorspeed_2 said:

Sarahwithlove said:

Well done on the overpayments you have made so far. I'd suggest tackling whichever is the next highest interest rate and go from there. Is the loan one of those payday loans because they are always high interest and never look good on your credit file. 

Yeah that’s my next priority Sarah and that’s my vanquis card which has the highest interest. I want to get rid of that card next week.   .

The bamboo loan is not a payday loan. I have given explicit instructions to many of the payday loan company’s not too lend to me again! Of course it’s probably a phone call away lifting other barriers  to apply but the reality is that’s better than a click away for myself.

its Saturday now and I have a few beers here and I am not going out because of my leg/foot it looks like I won’t be getting a takeaway. With that in mind the money set aside for living expenses might end up on debt after my day off. I ended up saving 35 euros last week from my previous weeks withdrawal of 110 euros.

some that follow maybe wondering why I am not spending lots on food and other things but that’s covered by my employer at the moment.

with regards to my credit file I check it probably twice a week or when I get updates on settled accounts, it always seems to be 3 months out of date and always has massive errors on it. I guess you get what you pay for.... free credit report equals a free assumption on your credit worthiness.

Who is yours with? I use the Mse one and find it's fairly accurate once the company has sorted it. When I went for my mortgage he told me it can take 56 days for it to show as gone in your credit file and if you're in middle of a month can be longer 🙄 as it usually takes the company 28 days to start the process and then another for it to show. 

floorspeed_2

Sarahwithlove said:

floorspeed_2 said:

Sarahwithlove said:

Well done on the overpayments you have made so far. I'd suggest tackling whichever is the next highest interest rate and go from there. Is the loan one of those payday loans because they are always high interest and never look good on your credit file. 

Yeah that’s my next priority Sarah and that’s my vanquis card which has the highest interest. I want to get rid of that card next week.   .

The bamboo loan is not a payday loan. I have given explicit instructions to many of the payday loan company’s not too lend to me again! Of course it’s probably a phone call away lifting other barriers  to apply but the reality is that’s better than a click away for myself.

its Saturday now and I have a few beers here and I am not going out because of my leg/foot it looks like I won’t be getting a takeaway. With that in mind the money set aside for living expenses might end up on debt after my day off. I ended up saving 35 euros last week from my previous weeks withdrawal of 110 euros.

some that follow maybe wondering why I am not spending lots on food and other things but that’s covered by my employer at the moment.

with regards to my credit file I check it probably twice a week or when I get updates on settled accounts, it always seems to be 3 months out of date and always has massive errors on it. I guess you get what you pay for.... free credit report equals a free assumption on your credit worthiness.

Who is yours with? I use the Mse one and find it's fairly accurate once the company has sorted it. When I went for my mortgage he told me it can take 56 days for it to show as gone in your credit file and if you're in middle of a month can be longer 🙄 as it usually takes the company 28 days to start the process and then another for it to show. 

Clearscore is one I use and credit karama formally known as noddle. i tried to go through the security questions for MSE credit report services about 3 times now answering honestly to confirm my identity but it’s pretty clear some thing is wrong on their end because my memory is pretty good when it comes too details like financial matters and when I took out loans, current accounts etc.

clearscore rating of 327/700

Credit karma 510/710 

with regards to credit karama I would rarely go above 530 because of the black mark on my account from a default which is like a death sentence for my credit file. Waiting game :-l

Sarahwithlove

Ahhh OK yes not the best. I haven't done either of those I was wondering whether should see what they are on other places but as at the moment I don't need any more credit and won't for a while hopefully I've held off. How long does a default stay on there for? 

floorspeed_2

Sarahwithlove said:

Ahhh OK yes not the best. I haven't done either of those I was wondering whether should see what they are on other places but as at the moment I don't need any more credit and won't for a while hopefully I've held off. How long does a default stay on there for? 

Well it’s good to always check your credit report just in case some one or myself has hijacked your identity and taken credit out in your name using said credit to buy pizza or beer or worse. Just joking but you see my point, always good to check it even if you don’t need it for security reasons. Looking at your thread I am pretty sure your credit rating will be high as a responsible borrower. 

The date on credit defaults I think are now 7 years but it was 6 years so I am some what unsure on it. The reality for myself is that I am not too bothered about it currently but wish to stay on the straight and narrow and have some what of a reasonable level of acceptance for low interest products 

Sarahwithlove

floorspeed_2 said:

Sarahwithlove said:

Ahhh OK yes not the best. I haven't done either of those I was wondering whether should see what they are on other places but as at the moment I don't need any more credit and won't for a while hopefully I've held off. How long does a default stay on there for? 

Well it’s good to always check your credit report just in case some one or myself has hijacked your identity and taken credit out in your name using said credit to buy pizza or beer or worse. Just joking but you see my point, always good to check it even if you don’t need it for security reasons. Looking at your thread I am pretty sure your credit rating will be high as a responsible borrower. 

The date on credit defaults I think are now 7 years but it was 6 years so I am some what unsure on it. The reality for myself is that I am not too bothered about it currently but wish to stay on the straight and narrow and have some what of a reasonable level of acceptance for low interest products 

Ahh OK fair enough that makes sense. I did clearscore last night just in case. 
Do you think eventually you will want to buy your own place and have a mortgage or stick to renting? 

Kitten868

I was not criticising your debt repayment strategy or your goals. I wanted to understand better what you're aiming for. Essentially about £9k more to go. You can do this. I was hoping you were going to say debt free and £2k in the bank - I'd like to hear you're coming home to family soon. How long do you think it will take you? 
I've been here for years and years. I'm terrible with money but I'm very good at finding access to finance. Just acquiring pay day loans will affect your credit score. Having them on your credit report/statement means you would be refused a mortgage by the high street banks. It's done now though and you're not going to do it again so lesson learnt. I don't think a 5 year old default would cause too much damage. Defaults and all closed accounts are on there for 6 years. 
Your debts and your debt list seem to be shrinking every time you post! You're clearly not getting it wrong. 

Keep it up xxx

floorspeed_2

Sarahwithlove said:

floorspeed_2 said:

Sarahwithlove said:

Ahhh OK yes not the best. I haven't done either of those I was wondering whether should see what they are on other places but as at the moment I don't need any more credit and won't for a while hopefully I've held off. How long does a default stay on there for? 

Well it’s good to always check your credit report just in case some one or myself has hijacked your identity and taken credit out in your name using said credit to buy pizza or beer or worse. Just joking but you see my point, always good to check it even if you don’t need it for security reasons. Looking at your thread I am pretty sure your credit rating will be high as a responsible borrower. 

The date on credit defaults I think are now 7 years but it was 6 years so I am some what unsure on it. The reality for myself is that I am not too bothered about it currently but wish to stay on the straight and narrow and have some what of a reasonable level of acceptance for low interest products 

Ahh OK fair enough that makes sense. I did clearscore last night just in case. 
Do you think eventually you will want to buy your own place and have a mortgage or stick to renting? 

Yes at some stage but that won’t be for a while I suspect.