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  • FIRST POST
    • Lemm
    • By Lemm 9th Mar 18, 12:55 PM
    • 4Posts
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    Lemm
    Improving credit rating!
    • #1
    • 9th Mar 18, 12:55 PM
    Improving credit rating! 9th Mar 18 at 12:55 PM
    Hi Iím new here and hoping for some advice!
    Iím hoping to sort out my credit rating which is currently quite poor!
    Iíve been looking at whatís on my file online, I have quite a few items on my file that are due to come off within the next few months. Does this mean they will actually be gone and not appear in any future credit checks?
    I also have two items that are in default but not yet closed from quite some time ago. The information on the report says they are also due to close/come off? At the end of this year.
    Iím not really sure how any of this works. Would it be best to try and contact the two debt agencies and arrange some kind of payment to settle the debts? Or wait until the date it says they will come off?
    Iím just trying to get my credit going in the right direction and any advice would be appreciated thanks!
Page 1
    • zx81
    • By zx81 9th Mar 18, 12:57 PM
    • 16,868 Posts
    • 17,894 Thanks
    zx81
    • #2
    • 9th Mar 18, 12:57 PM
    • #2
    • 9th Mar 18, 12:57 PM
    Settled defaults look better than unsettled. However, the accounts will drop off after 6 years from default.

    Be aware that if they seek a CCJ for the debts, that would remain on your files for another 6 years, unless paid within 30 days.
    • Lemm
    • By Lemm 9th Mar 18, 1:14 PM
    • 4 Posts
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    Lemm
    • #3
    • 9th Mar 18, 1:14 PM
    • #3
    • 9th Mar 18, 1:14 PM
    The accounts are both due to come off within the next 8 months, if I contact them I do not have the full amount to pay off the debts would they accept a lesser amount to settle the debts?
    I haven!!!8217;t heard from either of the debts for some time I was only aware they were still there from checking my file recently.
    If I contacted them would they then be chasing me for the full amounts which I do not have?
    • zx81
    • By zx81 9th Mar 18, 1:16 PM
    • 16,868 Posts
    • 17,894 Thanks
    zx81
    • #4
    • 9th Mar 18, 1:16 PM
    • #4
    • 9th Mar 18, 1:16 PM
    They may accept an offer, they may not.

    Do they have your current contact details?

    How much are the amounts?
    • Lemm
    • By Lemm 9th Mar 18, 1:22 PM
    • 4 Posts
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    Lemm
    • #5
    • 9th Mar 18, 1:22 PM
    • #5
    • 9th Mar 18, 1:22 PM
    No they don!!!8217;t have my contact details.
    Both debts are from a long time ago and I!!!8217;ve moved around a few times since.
    They are around £1000 each
    • zx81
    • By zx81 9th Mar 18, 1:26 PM
    • 16,868 Posts
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    zx81
    • #6
    • 9th Mar 18, 1:26 PM
    • #6
    • 9th Mar 18, 1:26 PM
    You run the risk of a CCJ being sought without you knowing it. So you either need to stay on top of your credit files to check whether once is applied in the next few months, or contact them to settle.
    • Lemm
    • By Lemm 9th Mar 18, 1:36 PM
    • 4 Posts
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    Lemm
    • #7
    • 9th Mar 18, 1:36 PM
    • #7
    • 9th Mar 18, 1:36 PM
    Thank you! I think I will just contact them and hope for the best!
    I!!!8217;ve paid off most of my debts the last few years not sure how I missed these!
    I guess it will feel good to know I have actually finally paid off all my debts when it!!!8217;s done.
    Then on to trying to build my credit up
    • zx81
    • By zx81 9th Mar 18, 1:39 PM
    • 16,868 Posts
    • 17,894 Thanks
    zx81
    • #8
    • 9th Mar 18, 1:39 PM
    • #8
    • 9th Mar 18, 1:39 PM
    One more thing worth mentioning - don't use your credit ratings from the CRAs as a guide to whether you are improving your credit file.

    They're made up and not related to how lenders see you. Your scores may drop when the defaults fall off, so just ignore them.
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