Sorting out my bad credit rating

mccor

I've recently got my credit reports from Equifax, Experian, and CallCredit. There are duplicate entries (which I've now asked to be removed) and amounts outstanding that have actually been paid. This I have sorted and it now says "Satisfied".

Firstly
- How do I get the default (8) removed now that it's satisfied?

Also I discovered that I "owe" £498 to O2 for a contract I had with them 4 years ago. Thing is I can't despute it as I think it's right!! Paying them £48 today and £100 a month until August.

My total debt is about £1,300, which should be cleared by September, but I want to make sure my credit rating goes up when I'm free from debt. How can I do this??? At the moment I own nothing, have never had a credit card, only ever had one loan, yet all my bank with give me is a cash card - not even a SOLO or ELECTRON!!

Advice appreciated xxx

GeorgeUK

Someone has just done a post on sorting bad credit history.
http://forums.moneysavingexpert.com/showthread.html?t=832297

Not sure about getting the defaults removed, hopefully someone else will be along soon.

fermi

As far as I know. the [8] status indicator stays. It reflects the fact that you defaulted the account so the agreement was ended.

As long as the debt is also marked as satisfied, then that is OK.

Experian's example credit report on their website shows how a defaulted and then settled account should look.

Here:

mccor

thanks, it's just I read somewhere that a default is very bad, even if satisfied....? x

Donedoingdebt

A default does not look good to potential creditors, but it can only help things if the account is marked "satisfied".
The default should remain on your file for 6 years from the date it was issued.