Credit score moving up advice

col81

Hi i have 5 defaults 4 drop off in July 2020 and 1 in May 2021 my score went up last month on experian from 601 to 722 is this because my defaults are old now? i still can get credit but i presume i will be able to soon. I cannot register on the votors roll so not sure what impact this will have on my credit score in the future.

[Deleted User]

col81 said:

Hi i have 5 defaults 4 drop off in July 2020 and 1 in May 2021 my score went up last month on experian from 601 to 722 is this because my defaults are old now? i still can get credit but i presume i will be able to soon. I cannot register on the votors roll so not sure what impact this will have on my credit score in the future.

https://www.moneysavingexpert.com/loans/credit-rating-credit-score/

yksi

The score is a load of manure and it's only about Experian trying to make you buy their subscription. Ignore the score. Lenders see your credit HISTORY, and the defaults are still there. They matter less as time moves on, but as you have seen, many lenders still hate them and reject people for credit, or charge high interest. If you can get a mobile phone contract that might help as most will show in a credit history. Double-check that you can't enrol to vote as most residents can, even if it's only for local elections. If you have any existing debts still, throw every pound you can find and get rid of them.

ianlfc1

Hello everyone,
i am new this this and i would really appreciate some knowledgeable advice, due to recent events regarding my Business i have found myself in a tricky situation, i took a £19,000.00 loan out for my company which i personally signed guarantor for. since then my company has not been paid a £40,000.00 invoice which means i have had to close down my company but the £19,000.00 loan i have now got to pay back personally on top of my current payments to previous creditors such as 4 credit cards total amount owed on all 4 is £4200 and a Barclays personal loan £8000 and a Barclays £4000 overdraft which is all in my personal name even though i used this money to bankroll my company to cover the wage bill in the hope that things would get better. which clearly didn't happen. So would it be better for my credit score if i tried to deal with each lender individual and set up separate payment plans individually or would i just be better off to enter into a DMP and have them deal with my debts repayments? which option has the least impact on my credit score?
Any assistance and advice on the matters raised above would be very much appreciated.
Ian. 

Dandytf

col81 said:

Hi i have 5 defaults 4 drop off in July 2020 and 1 in May 2021 my score went up last month on experian from 601 to 722 is this because my defaults are old now? i still can get credit but i presume i will be able to soon. I cannot register on the votors roll so not sure what impact this will have on my credit score in the future.

    Whilst others advise the Score isn't important.
    I suspect your Score will increase some time after all defaults have dropped off.
    I have 3 this years and last one Jan 21.
    I cannot advise if your defaults due to drop off from July are any reason as to why you have 121 increase recently      .
    More that you have been paying other non defaulted bills on time or maybe reducing what you owe.  

jimbo26

Not being on the Electoral Roll is going to be a big problem going forward.

col81

I have a vodaphone contract i have had this for 2 years and i have a tesco credit card that i clear every month. I am hoping that in August once the defaults have dropped off that will get credit again with only 1 default left.