Crest Scoring Annoyance

SavageHenry_2

Hi there, I was wondering if anyone could help.

A few years ago I was made redundant very unexpectedly. As such, HSBC 'advised' me that the best way to keep up with my personal loan payments was to go over to a managed loan plan.

The upshot of which has been that in the past two years the balance has barely moved due to the crippling interest.

This isn't the most annoying part.

I find myself doing pretty well at a job now with some security. I was hoping to move my loan elsewhere and start actually making a dent in it. I found some rather good deals, but have been rejected left, right and centre, despite my good income and secure profession.

I have just viewed my credit score, and it is apparently 'very poor', which means 'I've had serious problems meeting payments in the near past.' I've never missed a payment in my life.

Is this down to the managed loan?

Many thanks for any help.

mumofthreemonkies83

Hey savage Henry

Im sure someone else will pop in to reply soon but just wanted to welcome you to DFW

Quick question though, are you on the electoral role where you live? I know this largely affects your credit score?

Have you had late payments at all?
Remember the credit file goes back over the last 6 years but if it seems low you could get a copy and see whats on there?

Mumof3

mumofthreemonkies83

just thought .... If you have too much available credit ( even if its a credit card with 0 balance) that can affect it and also applying for credit too often has a detrimental effect because it makes you look "needy":D

Im sure someone else will be along soon with better advice

Mumof3

SavageHenry_2

Hey

Thanks for the warm welcome!

I am indeed on the electoral roll, and I haven't ever missed a payment - not on a phonebill, a credit card or my loan.

It's a real frustration, as I want to move things forward and get my money away from HSBC - they've been clowns with me for years.

RAS

I think the managed loan may be the problem, although another OP has one which is actually with a DCA and her credit rating is good.

Can you get your full records from all three acredit agencies and find out the exactproblem? People occasionally find very old accounts that they thought were claosed but have been accrueing 8 scores because a charge was made after it was supposed to be closed, or a financial association with someone in the past who has a dreadful score?