Can anyone advise as to how I can improve my scores. I have just changed all of DD/SO so that they come out of my bank well in time of due dates. I was hoping to buy a house in December 2009/January 2010 at which point there will be approx 18 months of never missing a credit payment and there will be 0 arrears between now and then. Will this do me any favours. Also, I have spoken to the companies who have given me very harsh defauls, NTL/T-mobile %26amp; Cahoot again the balances of these will all be clear by Jan 2009 but presumably will still show as outstanding on my account. I know this is a long query but is very important to both me and my future. :-)|||Its taken me years to sort this out (my own fault for trusting my ex) i have paid everyone off but I'm still stuck with 3 defaults that i can;t get rid of until 6 years has past since the default was recorded .
My advise comes without hesitation , it may sound incredible but it is true and god i wish someone had told me before i paid off my debts .
Do not pay anyone !
Force them to take you to court !
A judge will NOT ask you to pay more than you can afford .
You may find that you are ordered to pay perhaps a 拢100 for court costs on top of your debts
BUT
The minute your debts are paid you can go to the courthouse show your receipt and pay 拢10 .
For this all history of your debt will be erased .
So if a judge ordered you to pay 拢5 a month and you paid voluntarily 拢500 a month nothing could be done about it .
So it is the fastest way to repair your credit .
I know it sounds incredible but while trying to do the decent thing and settle your debts in accordance with your creditors wishes you are actually destroying your own chances of putting the debt behind you .
Even if you paid them all off tomorrow defaults remain on record for 6 years !
CC J's can be paid off and removed from your credit history in about 2 weeks .
Good Luck .|||how true is this source please i owe the bank money for a loan and i had a seetee out on credit i have over things but cant remeber i was young and stupid i want to sort this out is this the best route 4 me
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|||You can't change a credit report but you can add to it, pointing out mistakes and mitigating circumstances.
You do this via the report provider.|||Once you have paid off your debt to the companies involved phone them and ask them to amend your credit file they should (not obliged to) put down that the account is satisfactory.
As for paying off debts as long as you can do 6 months with out falling behind this will do you the world of favours.
Sign up to creditexpert.co.uk and keep a constant eye on your score they are great as well because they will phone up companies on your behalf which in turn makes companies listen and also ask them their advice they really are worth speaking to.
Also do not try for credit of any kind untill you get the rest sorted out because all the time you get declined it goes against you and all the people that look at your file see it.|||If you want to improve your credit rating, then first and foremost make sure you never miss any payments on existing credit, and never make any payments after their due dates.
The other important thing that you must then do (and the majority of people don't realise this) is to then take on as much credit as possible WITHOUT over-committing yourself, up to a maximum of about 2 unsecured loans and 3 or 4 credit cards. You must then run your credit in such a way that the banks are making money out of you, but not so much that you'll ever struggle to repay it. For example, you could have a couple of small personal loans and then on the 3 credit cards, make sure that there's always a residual balance on there every month. Pay over your minimum payment each month but always leave a small balance on there so that the banks are collecting interest on the account. Obviously this costs you money, but the amount is negligible if you do it right and is well worth it for a good credit score.
Remember- banks aren't only looking for accounts without missed payments, they also looking for accounts that they can make money from.
When it's time to apply for your mortgage, repay all of your credit so you have nothing outstanding. You'll then have a good credit score and minimal commitments which will put you on the best possible footing for being approved.
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