Hello all,
What an amazing forum!
It is a bit of a maze for a new user to navigate to the correct area so I hope I am asking the correct question in the correct place.
I have a number of creditors, both secured and unsecured.
I have defaults across the board after running into financial difficulties over the past couple of years.
I seem to have turned a corner financially now and I am keen to clean up my credit rating; using creditexpert,
I have a 540 score which is 'very poor'. I have a couple of questions related to getting a better credit score...
1. I have one secured creditor (Welcome Financial Services) who I still owe a few thousand pounds.
I have already paid back a huge amount but defaulted a number of times.
As the loan is over five years, they have frozen the interest and I am paying every month.
Q: Their details appear nowhere in my credit file which I suppose is a good thing.
But does this indicate that there may be an error on the original paperwork and should I pay for a 'Subject Access Request' for £10?
2. I have a secured loan with Future Mortgages.
I have had the loan for about 3 years but the balance has only reduced by about £1K, despite me now only being 1 month in arrears.
Q. Is it worth getting a full report of their charges and original paperwork sent to me and have it looked over to make sure their calculations are correct?
Final Q: where does one turn to in order to have interest rate and penalty charges checked against the terms of the agreement;
an accountant or are there firms that do this? What sort of cost can I expect from this?
If anyone could point me in the right direction, I would be so grateful.
I am keen to improve my dreadful 540 score and don't really want to pay inflated charges and interest in doing so.
Many thanks!!
