credit score after paying off debt

darcyvuqua

hey to everyone im trying to rebuild my credit score/file/history after i defaulted 2 times and received a ccj after the death of my wife in 2004 (all received early 2005) so i have met a woman who is great and supportive but recently i applied for a sub prime credit card on being denied (around 8 months ago) i got a credit report thats when i found out how bad my credit file was so i have made a possitive attempt to payeverything off which i did the last default got satisfied on my credit file yesterday the thing is i have 5 other credit agreements in good standing and now that i have paid these off my rating with experian (360) and equifax (163) have in fact gone down this has really made me a little broken hearted and upset that it has in fact gone down with positive measures so how long before i will start to see a improvement on my score good enough to get on the sub-prime credit card belt?

darcyvuqua

any help would be great and i will thank all replies

bethanyrayne

darcyvuqua wrote: »

any help would be great and i will thank all replies

I'm afraid the only positive thing it appears you can do is put a note on your file with CRAs explaining the default and CCJ to potential creditors.

After you paid all other agreements on your file your score probably went down because all you have now is the bad and no active accounts in good order.

That's only a guess but really your score is so low anyway I doubt it matters much.

Best place to go for credit is your own bank as they will probably be more understanding and aware of how you got into problems.

On a positive note you have settled all your debts and if you put a note on your file the damage may not be as severe as 6yrs

john1002

Dont forget those scores you show mean nothing in the credit world, each company using its own score card and own commercial reasons for issuing credit, you could have 999 and 999 and still get turned down.

As has been said try your own bank or it is really a waiting game maybe another year and then try a sub prime lender again or appeal the last rejection stating the above

john

CLAPTON

you need to be realistic... if you have only just settled your defaults and CCJ you need to wait at least a year and possibly longer to get prime rate credit and even then its my no means certain.

Its best to have maintain some form of regular credit (possible a store card) but pay it off each month so you dont incur interest charges.

Why are you so desperate for credit anyway?

darcyvuqua

Why are you so desperate for credit anyway?

AS MY WIFE DIED IN 2004 i would like a credit card to further the rebuilding of my credit

PROLIANT

CLAPTON wrote: »

you need to be realistic... if you have only just settled your defaults and CCJ you need to wait at least a year and possibly longer to get prime rate credit and even then its my no means certain.

Its best to have maintain some form of regular credit (possible a store card) but pay it off each month so you dont incur interest charges.

Why are you so desperate for credit anyway?

Like any "Normal" person he is just trying to recover his credit rating, darcy is not desperate for credit.

darcyvuqua

thanks mr p just wanting to know how long it will be before the positive actions have an impact on my credit file! so how are you matey

darcyvuqua

i wish i could go forward in time better still backwards lol