markr1963

A friend of mine back in Blighty has, in the not too distant past, been royally shafted financially by an ex that maxed out her credit card. Her credit rating is crap but has been on a debt management plan (don't have the details) for a number of years. She is now in the position where she can clear the credit card debt but is wondering what else needs doing to get her back in the black, credit card rating-wise.

Would anyone in the Snet community be able to give some guidance?

Cheers

Mark

Carlh

You can contact experian to get the credit note and what details lenders etc.. have against her for a quid. You can then add details to her credit file, explaining that her ex caused her to have the credit issue and that now he is longer on the scene, your friend is able to control her credit much better.

It wont clear the issue, but it will be available for lenders to see when she applies for anything.

Im afraid the bad debt will stay there for 7 years i believe, though this may have changed since I last read up on it.

Hope that helps and points her in the right direction.

Gear Head

iTrader: (2)

I also believe it is 7 years.
Also, most credit granters will just look at your score. They won't look for reasons why.

RobsyUK

iTrader: (2)

tell her to get a store card, buy one thing a month - super cheap and pay the max off every month. after 6 month it should start improving.

Bean1984

iTrader: (3)

Request a copy of your credit report from equifax and credit experian.

Once youve recieved this look at all the worst markings and get them paid off. Speak to the creditors and try to come to an arrangment with them. Assuming your making payments on time, you should be ok to apply for a credit card. Id suggest you apply to the companies that try to help those with bad credit such as vanquis, capital one, aqua. Yea your gonna pay 33.9% apr as well as recieve crap customer service but if you do what i do your laughing. Fill up once a month on your credit card and pay it off a few days later once its on your account. Creditors like to see use of credit cards as well as how well you are at paying it off. Its boosted my score up quite a bit doing that

Good luck tho mate

markr1963

Thanks for all the comments, guys.