Moorcroft

Milkandone

So I checked my mse credit rating the other day (first time in a long time) and I noticed that I owed TSB 300, from a bank account I know longer use. I updated my address etc and today I have received a fishing letter from moorcroft. I'm guessing it's about the TSB debt. I want to know the best way to deal with this so I can get my credit rating back up, it's currently 84.
I want to buy a house soon and have always had excellent credit rating. 

[Deleted User]

Ignore the credit rating. It doesn't matter whether it's 84 or 840. Lenders are only interested in the management of your accounts.

What is the status of the account? Did it default? If so when? When was the account last used?

Milkandone

I can't remember when I last used the account. Just tried to login and it's asking for a OTP on a phone that I don't have any more. I'm going to go to the bank tomorrow and see what they say. I'm happy to pay it off. But I'd like to improve my credit rating as I need to buy things! 

[Deleted User]

Milkandone said:

But I'd like to improve my credit rating as I need to buy things! 

Credit *files*.

Check the three CRAs to see the status of the account.

Ebe_Scrooge

Milkandone said:

But I'd like to improve my credit rating as I need to buy things! 

You don't "need" credit in order to buy things - with the exception, probably, of a house.  Aside from that, yes a credit card is an incredibly handy tool, and does offer several benefits.  But it needs to be used responsibly - never use it to buy something you couldn't afford to buy there and then with cash.

Sorry, I hope this doesn't sound like I'm preaching - it's intended more as a bit of advice to forestall any potential issues in the future

sourcrates

Milkandone said:

I can't remember when I last used the account. Just tried to login and it's asking for a OTP on a phone that I don't have any more. I'm going to go to the bank tomorrow and see what they say. I'm happy to pay it off. But I'd like to improve my credit rating as I need to buy things! 

You Bank branch won`t be able to tell you anymore about the account or who has the debt now.

Those decisions are taken at a much higher level, your better off asking Moorcroft to prove the debt to you, in writing, as a first step, it will all hinge on that response whether the debt is enforceable or not.

Credit rating is not really a thing in this country, although each CRA would have you think it was, credit history is what`s important, bad debts, paid or not, won`t help make you look more attractive to lenders either, time and good account management will do that.