better credit rating please!

[lisamellor]

hi all,

i am looking at getting a mortgage in aug 2007 ( i know its a year away but i like to plan ahead!)

now my credit rating isnt all that great.

has anyone got any advise on what i can do to make it better.

i pay all my bills on time.

cheers lisaxx

[cleungs1]

have you try the MSE site:

Your Credit Rating: How It Works | MoneySavingExpert.com,

[zootscoot]

If you want defaults removing follow this thread

http://www.consumeractiongroup.co.uk...d-removal.html

[lisamellor]

hi there,

i spoke to the hfc who have placed the default. they said that they placed this default as 2 payments were missed. she said you did try to make a payment through?? tbh it happened that long ago i cant remember it all very well.

the reason that i missed payments is because i was going through the insurance and i was at the first stage. the insurance company (hamilton) would not pay out until i got a letter stamped by my work and the doctor. i did get the info from the doctor on time but my work took their time.( from what the lady said).

do you think that i have a chance of getting this default removed?

i have still got the bank loan which is being paid by the insurance.

i have made a payment today of 35.00 towards it.

i have worked out that i missed payments in total of £1600. so i need to make payments towards this if i want it paid by aug 2007. the lady at the bank didnt tell me i had to she said that the insurance company would keep paying until it was all paid off.

i think that this is sooo much more complicated than getting my bank charges back!!

lisaxx

[martin2006]

Just coz you pay it off doesnt mean it wont still show on your credit file. It will stay there for 6 years unless you challenge it now. Get back onto HFC and ask them to remove it coz it was the insurance co who caused the default and not you. If the ins. co have brought the payments up to date now its better for your argument.
Alternatively, if you have been defaulted then havent they terminated the agreement?
If thats the case Surlybonds has put a cracker of a letter in the legalities section for removal of defaults, check it out. im not sure exactly if will fit your circumstances but its definately worth a few reads.

[lisamellor]

hi martin,

no they havent termintaed the agreement.

am going to have a look at surlybonds thread now.

keep updated

lisaxx

[lisamellor]

with thanks to zootscoot i have read the surlybonds thread.

wow!! how confusing!! (it not the thread its me!)

i cant really get my head around it all.

can anyone else who is reading this thread able to give a bid of advice/opinion on this by just breaking it down?

when you get a default do they terminate the contract?

is it normal to default an account by missing 2 payments even though i was being "processed"!! by the insurance comp and as martin said previously it is their (hamilton insurance) delaying tactics that the loan wasnt being paid.

shall i ring hfc and ask for a copy of the original default notice?

do you think it is worthwhile trying to get it removed?

and shouldnt they have put the account or something on hold whilst the insurance comes through?

the lady i spoke to said that because i had not made a token payment then that went against me also and this could have been avoided by making a £1.00 token payment.

oh its all confusing!

lisaxx

[martin2006]

Take your time to read the letter,its 7 pages long!!!
\i had to read it 6 or 7 times.
The basic gist is that when you get a default the original creditor is in effect terminating the agreement and thus terminating your written permission to process your data. It then goes on to quote various laws and demands that they stop processing data as you no longer have given permission for them to do so.
there is also a statutory notice that you need to send with it, the templates on the same thread.
I would try HFC first by letter with a polite request to remove the default coz it wasnt your fault etc, if they no play ball hit them with the hard one, just mod it to suit you.

[lisamellor]

cheers martin,

will ring up the bank and keep updated.

there are lots of things on there. i bet he got blisters typing it all out!!

i know that some times you do have to read through things over and over and over (in mycase a few times more to!)

lisaxx

[purplefile]

lisamellor

How much was the default for?
When was it registered.

A lot of mortgage lenders will ignor defaults over three years old satisfied or not so if you havent got it removed by the time you start mortgage hunting dont panic too much. It is unlikely to have a huge impact on your mortgage rate. The amount of deposit you have can outweigh the default.
The amount of the default is important.

Speak to HFC again as they do not normally report a default untill after 3 missed payments.

[lisamellor]

hi purple,

i think it was defaulted at about £7k. and it was around june 03/04.

saying that we will have more than that in deposit when we come to buy the house. we reckon we will get the house for around 55k and if we have a deposit of around 10 - 15, leaving around 40k to borrow (we wouldnt want any more for doing the house up or anything). so do you think i would be pretty simple to get a mortage?

i will be ringing up the hfc next week regarding the default. i want to make sure i know what i am saying!!

cheers lisa.