Where can I get 1 to 1 advise on increasing credit score in my situation?

Futurenurse99

I have 15 defaults and 1 CCJ - I am paying these all off and my goal is to pay them off by the end of this year. The debts amount to £11,000 and I landed in this position due to car finance issues (Gearbox failure so gave the car back but still have to pay it off) + helping family members.

My boyfriend and I are aiming to buy our first home in three years when I graduate. We would have a 60,000 deposit, however, I'm worried that my past debts will affect my application even though I would've paid them off by then. I wanted to know where I can get professional 1 to 1 advice for my debts and how I can increase my likelihood of getting a mortgage in three years time.

cymruchris

Firstly focus on your history and not your score. Aim to reduce the debts to zero, and begin building up a positive credit history. It's the history that's important - not the number. The number is a general guide as to your progress, but only you see it, and it can go up and down wildly sometimes for little or no reason. You're welcome to get professional advice - but it's not something I'd pay for. There are many resources that'll point you in the right direction for free.

The basics:

1. Pay off the debts and ensure that they are all recorded as settled (in the case of the CCJ 'satisfied') on all three of your credit reports.
2. Ensure both you and your bf's information at the credit reference agencies is 100 percent accurate.
3. Ensure you are both on the electoral roll.
4. Ensure that if you have any credit card - that it's paid off in full every month by direct debit - avoid carrying continual balances, and no missed payments.

What current credit facilities do you have on your accounts? Mobile phone contracts? Utility bills? Any existing lines of credit such as catalogue accounts or credit cards?

gizmo111

What are the dates the defaults and CCJ were registered?  How did you get 15 defaults for a single car debt?

KC123456789

Professional 1 to 1 advice will be less helpful that free advice from people who've been through it on here. Nobody can delete the past if that's what your after. Any fees you pay is money you could use to pay debts.
Keep up to date with your bills for the next 3 years and seek a good mortgage broker when the time to buy comes.   

runforlife

Welsh Chris nailed it 

Futurenurse99

cymruchris said:

Firstly focus on your history and not your score. Aim to reduce the debts to zero, and begin building up a positive credit history. It's the history that's important - not the number. The number is a general guide as to your progress, but only you see it, and it can go up and down wildly sometimes for little or no reason. You're welcome to get professional advice - but it's not something I'd pay for. There are many resources that'll point you in the right direction for free.

The basics:

1. Pay off the debts and ensure that they are all recorded as settled (in the case of the CCJ 'satisfied') on all three of your credit reports.
2. Ensure both you and your bf's information at the credit reference agencies is 100 percent accurate.
3. Ensure you are both on the electoral roll.
4. Ensure that if you have any credit card - that it's paid off in full every month by direct debit - avoid carrying continual balances, and no missed payments.

What current credit facilities do you have on your accounts? Mobile phone contracts? Utility bills? Any existing lines of credit such as catalogue accounts or credit cards?

Thank you so much for this!
I do not have any credit facilities + I pay for TalkTalk broadband monthly only.

Futurenurse99

gizmo111 said:

What are the dates the defaults and CCJ were registered?  How did you get 15 defaults for a single car debt?

Most of the defaults were registered in 2019 and 2020. I got 15 defaults mainly from loans/credit cards to help family members as stated in the OP. The car finance was just one of the defaults, sorry if I wasn't clear.

cymruchris

Futurenurse99 said:

cymruchris said:

Firstly focus on your history and not your score. Aim to reduce the debts to zero, and begin building up a positive credit history. It's the history that's important - not the number. The number is a general guide as to your progress, but only you see it, and it can go up and down wildly sometimes for little or no reason. You're welcome to get professional advice - but it's not something I'd pay for. There are many resources that'll point you in the right direction for free.

The basics:

1. Pay off the debts and ensure that they are all recorded as settled (in the case of the CCJ 'satisfied') on all three of your credit reports.
2. Ensure both you and your bf's information at the credit reference agencies is 100 percent accurate.
3. Ensure you are both on the electoral roll.
4. Ensure that if you have any credit card - that it's paid off in full every month by direct debit - avoid carrying continual balances, and no missed payments.

What current credit facilities do you have on your accounts? Mobile phone contracts? Utility bills? Any existing lines of credit such as catalogue accounts or credit cards?

Thank you so much for this!
I do not have any credit facilities + I pay for TalkTalk broadband monthly only.

Have you taken a good look at your credit files (the free versions) with all three providers? (Not just one)

You obviously have the ccj on there and your defaults.

So a few questions: 

are you on the electoral roll? 

is there a record for any current accounts in your name?

do you have any joint bank accounts with your partner? 

Who pays the utility bills? 

Do you have your own mobile phone contract ? 

[Deleted User]

Any sort of debt/default/ccj stays on your file for 6 years from the point it was applied, there is no way around this.
Beyond paying off your debts, you need to spend a couple of years building a credit history e.g. sim only mobile contract, basic card builder card, paid off in full every month etc. Paying someone is a waste of money, they'll tell you the same stuff

Harlequinn87

Also have a similar situation with buying my first home (hopefully in the next few years) and having defaults from 2018/2019. I was advised a friend in Finance that once my debt was paid off which i done in March 2020 to get a credit building credit card and pay off in full each month to show i was using the credit wisely, and this has improved my credit rating within the last year but i still have a way to go! Like Deleted_User has advised this will take a few years to improve your credit as creditors need to see you are using your credit correctly. Even though the defaults will stay on your credit file for 6 years i was advised as long as you've kept on track with paying the credit card in full each month as well as other bills etc then the creditor wouldn't even notice these defaults from years back. Also as KC123456789 said - seek a good mortgage broker when the time to buy comes.