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    • uckedup
    • By uckedup 13th Jan 19, 10:18 PM
    • 1Posts
    • 1Thanks
    Bad to better??
    • #1
    • 13th Jan 19, 10:18 PM
    Bad to better?? 13th Jan 19 at 10:18 PM
    hello, so bit of background..
    I was a stupid teen who was reckless with cash flow. I spent it on sex, drugs, nights out, the full 9 yards.. I was very irresponsible to your surpriseeven after when my family bailed me out with some debts I did not understand financial credit and the implication it would have on my life.. I had countless bailiff letters and court threat hearings, phone calls bombarding at me .. I tried to run from it but as we all probably know.. that didnt work. I accumulated 3 ccjs and ran up debts of about 10k.. in payday loads, c/c, finance, store cards.. I totalled ran up 9+ defaults and I was only 24 at this point..with a student loan.. lets say i UckedUp badly.. BADLY!!! (thats long story short)

    2014-2017 I was using debt consolidation agencys to help me but in a stupid way I was resetting the cycle for the debt people to stop sending me letters and phone calls.. enough said. I thought I was cleaver but I was stupid. I know

    so 2018 i decided to subscribe to Experian, Equifax and clearscore and checked the damage I have done. As these letters were never going to end and I learnt in a hard way you cant run away from it ever.. all it takes is one search on your name with your address and thats it..its like a manhunt after you but for debt.

    So after a long hard battle getting hit done!, I did clear all my defaults after heavy negotiating with the debt agencys reducing the overall debt by 60%. win win

    from the 9 defaults. 3 remain now.. 2 being removed this year (6 year mark) and the last on jul 2020 (Im contesting the last one to see if I can get rid of it,, put in a plee of good will with the debt people.. if you know anyway of getting rid of it..please do help)

    the 3 ccj's all disappeared ..2 of them I have not paid them and the last ccj I have Ive been on a payment plan for 2 years and not missed a payment..

    I contested and succeeded correcting a settled account on a old Barclays account that was closed 8 years ago.. it didnt show miss payments on the account so I was lucky with that one)

    so after dealing with the damage and getting my hit in order.. I was amazed what happened next..
    after achieving a score off 255 in 2018 to 755 now (I know its b/s but its a motivation booster for me haha) could not believe its nearly fixed finally!!!

    so the good happened.

    I was messing about on Experian and one day thought wonder if I would pass a c/c application, but I was so afraid of trying in case it marked my report if it declined. aqua mentioned wont harm c/score for a pre check .. so I thought uck it and to my amazement ..I was pre-approved with a 300 pound limit instantly.. they just needed e signature and WOW really I got a c/c card just like that.... I could not believe it.. I know its only 300 but banks have refused a 10 pound overdraft for years and this happened..

    sooo.. no brainer here I paid my balance in full before the billing cycle.. not going over 30% of the cards allowance. following some amazing peoples advise on here and used the card responsibly.

    Two months passed and today is here
    credit score now 799 gone up with another default gone and having another settled account with 0 closing balance. I thought Is try the Experian c/c card match again and again I was pre-approved with a 400 balance with Initial Barclaycard. I remember applying for this card in uni and every time I was declined.. no !!!! sherlock you might be thinking. but now I understand why!!
    I dont know if this is to my luck but later in the day, I signed in my aqua account and I noticed some figures that my eyes nearly popped out. They auto renewed a new balance for me to use of 1550.. I couldnt believe it but at the same time this has got me thinking and a bit skeptable on how to approach this.

    im looking at a few positives here..
    increase in credit score as i have 1 lender providing 1000 credit to me on one card.
    2 lenders borrowing to me c/c
    more money to use within 30% limit.

    more interest to pay
    Im stumped know please feel free to speak out.

    Im happy I am in a position of good-ish mehhhh.... credit. I didnt think I get to this stage so quick given my situation I only pulled the finger out in 2018. Im looking to better my credit to the best but do seek out more info/knowledge. Whats the best way to approach the next steps things to look out for big no no's positives anything..

    this is my little story I thought I share if someone is/has been in my position. Tried at the humor at how I was but now better minded.. please feel free to throw in your 2 cents.

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    • cjv
    • By cjv 13th Jan 19, 11:03 PM
    • 449 Posts
    • 235 Thanks
    • #2
    • 13th Jan 19, 11:03 PM
    • #2
    • 13th Jan 19, 11:03 PM
    Keep it simple.

    Use your CC and pay it off in full after you receive your statement, wait for your defaults to fall off of your credit files.

    You will then be much more attractive to lenders. Be aware though that the banks you defaulted with may still have the adverse information on their files for many years and take this in to account when deciding to lend to you or not.
    • Gary_Dexter
    • By Gary_Dexter 13th Jan 19, 11:18 PM
    • 3,713 Posts
    • 2,272 Thanks
    • #3
    • 13th Jan 19, 11:18 PM
    • #3
    • 13th Jan 19, 11:18 PM
    That was a long post...

    TL;DR - keep on top of things.
    Use the card and clear monthly after each statement.
    Ignore the made up score and ratings - however much of a “motivation boost” they seem to be
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