Card debt causing poor credit

Sncjw

Have you formatted the soa then we cna take a look to see where you ca save or why the best thing to do is 

peteuk

Rocca22 said:

Hi,

I ha e around 3k of debt on 2 credit cards and an over draft, this doesn't seem much but currently I'm in part time work and I also claim Universal Credit to help boost my earnings as they are so low. 

Debt is Debt regardless of the amount and if you cant afford it, then its a bigger problem. 

Try and sort out a SOA.  Even if you type it in full, that way some of the more expert peeps we have on these boards will try to help you. 

Step change are really helpful and will run through a SOA with you. It will cover things you may not think of. One thing to bear in mind is are the CC or OD with your main bank?  I was advised to change bank in case they started using my wage to pay off things like OD.

Hopefully it wont take too long to pay off and things get better for you on the work front.  Good Luck!

Rocca22

Thanks for your reply, Aopreciated.

Thsourcrates said:

Rocca22 said:

Hi thanks for you reply, yes I totally get what you are saying, Im not looking for any other credit however in the future I would like to be able to do exactly as you said, ie. Car, home loan for training. 

Problem is I cant get any of that with my poor history. Its happened in the last 2 years (lack of work as I was self employed in the fitness industry) work is picking up but its probably 75% down on 2 and a half years ago.

Nothing lasts forever, defaults etc will disappear after 6 years, the system is designed so that no one pays for bad money management forever.

Rocca22

peteuk said:

Rocca22 said:

Hi,

I ha e around 3k of debt on 2 credit cards and an over draft, this doesn't seem much but currently I'm in part time work and I also claim Universal Credit to help boost my earnings as they are so low. 

Debt is Debt regardless of the amount and if you cant afford it, then its a bigger problem. 

Try and sort out a SOA.  Even if you type it in full, that way some of the more expert peeps we have on these boards will try to help you. 

Step change are really helpful and will run through a SOA with you. It will cover things you may not think of. One thing to bear in mind is are the CC or OD with your main bank?  I was advised to change bank in case they started using my wage to pay off things like OD.

Hopefully it wont take too long to pay off and things get better for you on the work front.  Good Luck!

Hi, yes I have contacted Step Change, hoping they can help. Yeah I have changed banks now also, its all a bit of a mess tbh.

Would I see much change in my credit rating if I was able to pay a monthly amount off? With inflation its looking less likley anytine soon though.

Yes trying vwey hard to push for work, its really difficukt in my industry still.

kimwp

Your credit rating reflects your financial history, but the actual number isn't something to worry about - things like paying off a credit card can cause it to vary massively. They key is responsible financial behaviour - paying off monthly bills in full etc.