Stupid Stupid!

SubPop

Hi Folks,

I posted on here about sorting my debts out and was making good progress (18K to about 5 in three years).

and then I fell off the wagon and missed five payments in a row.

Got back on the wagon and I'll pay my last credit card this month, and that just leaves 2.5 K of debt.

My credit score has gone down the pan due to the five missed payments, A ridiculosy stupid thing to do that wiped out my gains in credit scores over the last three years (finally started paying again last month) and my score is 530 odd/ 1000 with experian.

How long will it take for this to recover if I stay on the wagon again (and trust me i will!). (e.g. is one missed payment worth -80 pts on your score etc.?) Or am I stuck with this score at about this level for the next three years?

Stupid Stupid Stupid me!

always_amazed

I'm not sure; I think things stay on for 6 years but it's up to the individual lender how they interpret the scores.

But do you really want to get credit again after doing so well paying it off? xxx

SubPop

always_amazed wrote: »

I'm not sure; I think things stay on for 6 years but it's up to the individual lender how they interpret the scores.

But do you really want to get credit again after doing so well paying it off? xxx

I'm not after a credit card again believe me!

I was trying to build up my CR so I could get a morgage with a half decent level of interest, up until six months ago I was almost there (score of 880 ish) and then I forget to start a DD for the credit card, spend the money going out and stuff, ignore letters and phone calls and bang! I'm back where I started

:mad::mad::mad:

Sea78

Hi

Don't beat yourself up too much about it - I can imagine you are really frustrated though. Remember that other factors are also considered when getting a mortgage, so it might not be as disastrous as you think.

Sea xxx