Tidying Up Credit File

mitchen83

So I went through a bankruptcy in 2019 and since then have not really got involved in any type of credit other than a credit card which I use sparingly. 

I’m now at a stage where I’m very confident I can use credit responsibly and in some respects need to. I tried to take out a car loan but got refused for everything, even the horrific 35% APR car finance. Even the agent said he’d never seen anyone get refused for that. 

So from looking at my credit report, I’ve got two credit card accounts that were a part of the bankruptcy which are still sitting in open accounts but when going into the detail they are down as defaulted and due to drop off in December. 

I then have numerous accounts sitting in a defaulted section. They’re all due to drop off December this year as well. 

However most of the accounts from my bankruptcy era are sitting in the closed section as satisfied, but they’re dated from the date of the bankruptcy discharge in late 2020. 

So my question is, should all these accounts be in the closed section as satisfied and are they the reason I can’t seem to get any sort of credit. Is it best to let them run until December and drop off, or should I get them changed to closed and satisfied but it means they’ll stay on my report until December next year. 

What’s everyone’s thoughts? 

ManyWays

All the debts in your bakruptcy should have a default date on or before the start date of your bankruptcy and they should be marked as satisfied or partially satisfied with a zero balance from the date of your discharge.
So yes, those two credit cards accounts showing as open should be marked like the rest as satisfied. 
You can try to get this changed now, they will still drop off 6 years after the default date, so check if that is right.
But It's nearly May and you will be doing well to get these two accounts both corrected before August. So its up to you if its worth the hassle to get a small improvement in the chance of getting credit, but it wont be at a good rate, for the last few months before December.

mitchen83

Thanks for the reply. Do you not think this will make much of a difference then? 

I wonder why my credits so bad then. All the bad stuff is nearly 6 years old, my credit card is paid in full every month, although I only run up £20-£30. The limit has grown to £2700. 

And my bank account has no overdraft etc. yet all the credit report sites list me as ‘very poor’ 😞 

sourcrates

Until the bankruptcy marker and all debts included in it have dropped off your file, your situation will not improve that much, afterwards it should.