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Can anyone give me some advice.

 

I have a poor credit rating and I am looking into my girlfriend paying off my debts. If this is done and all my debt is cleared, how long does it take for your credit rating to improve?

 

I understand it is done on a month by month basis but I am hoping the fact the amount of debt will be zero that this will help and quite quickly. The reason I ask is that I am wanting to go on her mortgage and obviously need a better credit rating to do so.

 

Thanks

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Any defaults will remain on your credit file for 6 years from the date they first appeared, although they would be marked as satisfied once the debt was paid off.

 

Have you thought of claiming back any unlawful charges that these may include?

Please note: I have no qualifications in this area and any advice offered is given in good faith.

 

 

http://www.financial-ombudsman.org.uk/publications/Ombudsman-news/40/40_setoff.htm

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Hi,

 

I don't have any defaults registered against me but the record is poor. Does anyone know what the process is regarding credit rating?

 

I am trying to claim charges from a few people.

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Can anyone give me some advice.

 

I have a poor credit rating and I am looking into my girlfriend paying off my debts. If this is done and all my debt is cleared, how long does it take for your credit rating to improve?

 

I understand it is done on a month by month basis but I am hoping the fact the amount of debt will be zero that this will help and quite quickly. The reason I ask is that I am wanting to go on her mortgage and obviously need a better credit rating to do so.

 

Thanks

 

 

Deatails stay on for 6 years as I am sure you know.

 

The 6 year thing applies even when debts are satissfied (sp) and as such if you clear them the 6 year thing starts again! .

 

I am clearing mine but some only have 4 months left before they fall off my file and as such final payment will be made after that has happened.

 

It does state on credit references website that many lenders view debts the same if they are paid off or not, they look at payment history.

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Hi I am new here and sorry to hijack this thread basically in our family we owe £13000 on credit cards between us and I was looking to getting a loan to pay them off and have just one payment I applied for a further advance with my mortgage company but was refused the problem was I missed a payment one cc and I got mixed up with my wages one month were I thought I got paid twice but it wasnt that month so oopps i missed a mortgage payment but I paid it off, I am now currently up to date with everything and it seems I can only get a loan from one of these minor cable tv channel type loan companies who I do not trust one minuite I am going to speak to my bank next week to see if I can get a loan off them but I do not feel lucky

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