Moneysavingexpert.com/ Your Credit Rating discussion area

jared0565

Hi,

Glad to have found this forum, I am new here and i have a question. If you are a dependant of your wife who has a Permanent Resident status, can you apply for a loan for yourself? Thank you for any reply.

Harris77

Hello, this is my first post and any advice would be greatly appreciated. I have been turned down for a mortgage recently and after checking my credit report and speaking with my broker she believes its down to a pay day loan that I took out last autumn. It was just for one month and was paid on time in full, does anyone else agree or disagree with my broker that one pay day loan would have the lenders running scared?

sdirect

Hi, guys!

I have question - What is it if company is checking my credit check and it turns ALWAYS to error? ( WE NEED more details and etc? ) Can it be because that electoral roll is not showing yet?

LynseyLou_2

Hi all. I hope some of you may be able to help me.

I was told by Zopa that I was not entitled to a loan - I wanted to buy a second-hand car. I logged into my Equifax account to check my credit rating. It had dropped from 430 (good range) to 352 (poor). Naturally, I was absolutely mortified. A few things happened during that period. I moved out of my parent's home, where I had lived for 23 years without moving and into university accommodation. I am on the electoral roll here (North Oxford) and this is down as a 'linked address'. I paid off a Vodafone contract phone and started a new contract with Orange. I hadn't been refused credit before, my payments are all up to date and I have a regular income. I was wondering what has caused this colossal move and what should I do to repair the damage?

LynseyLou_2

Please excuse my last post. I contacted Equifax to dispute the change in score and they do not understand why it is dropped so dramatically either. I have filed an online dispute and I am awaiting their response. I will let you all know how I get on.

Hazzinho

The score means nothing you are wasting your time. Lenders don't see this score it is for your reference only and means very little. All that matters is the data on your report is correct. You should also get your £2 report from experian and your free one with noddle.

PeeJayJay

Hello

I have just issued a small claims summons for £4,000 against Vodafone who have put a derogatory entry on my credit file. My contract ended, I gave a month's notice, they continued to collect payments by DD, I cancelled the DD so they added an entry to my Credit file.

This kind of situation has arisen before with other companies.

We surely need a law in the UK to heavily fine companies that incorrectly do this. We all realise how massively damaging credit file entries can be in today's marketplace. I have written to Gary Streeter MP to raise the awareness of this kind of issue.

It seems there is very little we can do as individuals in short timescales to get things corrected. I am taking court action to get an immediate result since dealing with Vodafone's Indian call centre is insultingly frustrating.

I would be interested to see if we can get some momentum to get this kind of issue raised. Thoughts anyone?
regards
Paul

notomonkeys

lynseylou,
1). I think possibly the fact your name has just went on the electoral roll would count against you, even though it may be linked to your previous address. How sure are you that you were registered at the previous address? (is this on previous credit reports)
2). You mention an income and that you have moved into student accomodation- FYI. don't think i'm being cheeky when i say this but reading between the lines - a student loan would not count as income, this would immediately show up as a debt on any search.
3). Equifax is not the credit reference agency most mainline lenders use- Experian would be the most likely candidate for this as they provide more comprehensive data.
4). if you're refused Credit always ask who is providing the Credit reference so you can go straight to the source.
5.) Whatever you do-do NOT keep applying for loans until you know what the issue is.

Finally. In the current climate most lenders are still tightening up on Lending criteria so it may just be you're one of the unlucky ones. (like many others nowadays)

Hope this has given you some pointers.

lshaw16

notomonkeys wrote: »

lynseylou,
1). I think possibly the fact your name has just went on the electoral roll would count against you, even though it may be linked to your previous address. How sure are you that you were registered at the previous address? (is this on previous credit reports)
2). You mention an income and that you have moved into student accomodation- FYI. don't think i'm being cheeky when i say this but reading between the lines - a student loan would not count as income, this would immediately show up as a debt on any search.
3). Equifax is not the credit reference agency most mainline lenders use- Experian would be the most likely candidate for this as they provide more comprehensive data.
4). if you're refused Credit always ask who is providing the Credit reference so you can go straight to the source.
5.) Whatever you do-do NOT keep applying for loans until you know what the issue is.

Finally. In the current climate most lenders are still tightening up on Lending criteria so it may just be you're one of the unlucky ones. (like many others nowadays)

Hope this has given you some pointers.

Thanks for this reply, very kind of you. You have not been cheeky at all, I am a doctoral research student. I get a stipend of £19,000 a year from the Wellcome Trust. Some lenders count this as income, others do not. At my previous address, I was definitely on the electoral roll as I voted there in a few elections and this was on the initial credit reports. I will definitely try Experian.

Thanks again.

leecolgate

I ordered a car via Tesco Cars. They then called me to say they were discontinuing the service. I had, however, already arranged finance through them - the loan actually being supplied by Barclays Partner Finance. I cannot therefore proceed with the loan directly, as BPF do not lend to consumers. But I have a great big footprint on my credit history. So 2 questions:

1. Can I ask for this search to be removed, given that I cannot proceed with the loan?

2. Even if I do, will my credit score recover? If so, how long will it take?