Information

brunochef

Good Evening,  

i need some help to  rebuild Crdit score but need to split the question in two:
2017/2018
Apply for Aqua Card and Capital One Card and  with my stupidity i  made some short loan as  was thinking was easy to pay and  from  that  moment  start  my  problem, went  holiday and spend  money and   reach  the cap  of  both  card start   to pay and  to  dont  pay  the   minimun balance  and  start  receive  letter from  aqua that  i  jump  payment at the end i reach  the  point that  the card  get block and  need  to pay 600£ tu Aqua 250£ to  Capital one.
Not  happy of  everything i   apply  from  a site named Safety Net till  the  point  to  reach  to pay 800 £.

At the end  i  got   a  balance of 1650£ to pay back i start  to look  around and  see what  can  i  do and  read about debt  management  try  to apply for them  but when i  told  all the  info  they  need  the answer  was  that the  amount  of  money was  not  enough  to  enter  in  debt  management system  as  they told  me.
2019/20
So   i think  my self   and i  say   will  start  to  pay  ste by step all of  them so  i   start  with  Aqua and  Capital One  25£ each and Safety net  20 £ each i struggle  a  lot  cause  of  my  law  income  plus wife and  daughter but  now  i  pay  back  Aqua Card and  i  phone  them  today and  the card  is  closed last  week  i close SafetyNet  and  pay  back  the  last  amount so  is  close,  the  last  one is Capital One .

I  join Experian and The Credit  Club and  the  first  one  as  part of  rebuild  my score suggest  me  if  i  pay  the  full  amount remaining  of  Capital One my credit score will  rise of  128 point the actual  credit score  is 468 so  will  be 596 if  credit score  work  as  i  think (tell me  if  working different).

As  try  to  rebuild the score  in  the credit  club suggest to   join  Marble Credit Card that will  help me to  rebuild  the score i have  no idea how he can do  that .
As example if  the card  limit  is  200£ and i  made  the monthly  minimun  repayment  how it works?

Aqua card was  terminated  and  got   a  refund  0f  35 £  will  affect  the score?

Hope to  be clear in  what  i write and  hope someone  cn  help  me.


Best Regards

Bruno 












Household Information[/b]
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... [b]

Monthly Income Details[/b]
Monthly income after tax................ 1250
Partners monthly income after tax....... 1000
Benefits................................ 80
Other income............................ 0[b]
Total monthly income.................... 2330[/b][b]

Monthly Expense Details[/b]
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 65
Electricity............................. 37.5
Gas..................................... 37.5
Oil..................................... 0
Water rates............................. 65
Telephone (land line)................... 30
Mobile phone............................ 47
TV Licence.............................. 157
Satellite/Cable TV...................... 0
Internet Services....................... 30
Groceries etc. ......................... 125
Clothing................................ 150
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 150
Haircuts................................ 10
Entertainment........................... 20
Holiday................................. 0
Emergency fund.......................... 0[b]
Total monthly expenses.................. 1424[/b]
[b]

Assets[/b]
Cash.................................... 400
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0[b]
Total Assets............................ 400[/b]
[b]
No Secured nor Hire Purchase Debts[/b]

[b]Unsecured Debts[/b]
Description....................Debt......Monthly...APR
Capital One....................200.......25........0[b]
Total unsecured debts..........200.......25........-  [/b]

[b]
Monthly Budget Summary[/b]
Total monthly income.................... 2,330
Expenses (including HP & secured debts). 1,424
Available for debt repayments........... 906
Monthly UNsecured debt repayments....... 25[b]
Amount left after debt repayments....... 881[/b]

[b]Personal Balance Sheet Summary[/b]
Total assets (things you own)........... 400
Total HP & Secured debt................. -0
Total Unsecured debt.................... -200[b]
Net Assets.............................. 200[/b]

[i]Created using the SOA calculator at www.LemonFool.co.uk.
Reproduced on Moneysavingexpert with permission, using other browser.[/i][/font]

sourcrates

Bruno,

Forget the credit score, at best it’s a made up number used for selling credit improvement products, at worst it becomes obsessive as it appears here.
Credit history is the important thing, pay your bills on time, don’t miss any payments, no defaults, be on the electoral role, have a stable address history, just general common sense stuff.

Your only £200 in debt, I’m a tad confused  by your post ?

ryanm8655

Agree with the above, plus you have the cash to clear it if you want to.

Also there’s an error on your SOA, you have the annual tv license amount listed. So that frees up another £143.91.

Are you trying to buy a house? What is your goal?

I have a friend that is obsessed by taking out credit to boost his credit score despite already ploughing several thousand through an amex and having the usual bills etc.

curlytop12

Hi, welcome!
 Regarding your SOA - you have £800  left over each month, where is this? you could just pay off the debt?
Don't worry about your "number" , credit history and risk is what the compnies look at, why do you need a good score ? Are you hoping to borrow more money?
You spend more on clothes than food? and £125 for groceries- that can't be right with a family of five.
TV licence isn't the right amount, have a double check.
You should get some contents insurance- protect your belongings, less than £10 a month.
Please come back with more information, no-one ever gets the SOA totally right first try!