Repair Your Credit Rating

Tired of being refused credit?

Concerned your credit report is incorrect or not truly reflecting your circumstances?

There are many reasons why you may be declined for a loan, but it is likely to be due to your credit rating. When you apply to a lender, they access your credit file with the Credit Reference Agencies to assess your credit-worthiness.

Here are some of the ways in which a lender will give you a score to decide whether or not they will lend you money for a large purchase such as a vehicle loan. Reasons you may be declined include:

• No electoral roll information
• County Court Judgements (paid or unpaid)
• Defaults and missed payments (paid or unpaid)
• Repossessions
• Family Adverse Credit
• Poor payment history on any accounts (present and past)
• Multiple address links
• Multiple links with other people
• Incorrect or out of date information
• Multiple Credit Searches
• CIFAS warnings

What a credit repair company can do for you

The most important thing to understand about the credit reference agencies is that any information which they hold about you must be accurate and this is where a credit repair company can help.

Their role is to analyse and identify any information that has been incorrectly recorded or any debts that have been discharged. Then, wherever possible, they aim to remove or amend such harmful information held on your file.

If the information can't be removed or significantly altered, they can, as a minimum, add an explanation to your file as to why an entry arose in the first place. This may influence an underwriter in assessing you for credit ... although it's important understand that Credit Repair is not a magic wand and it can't guarantee that your ability to obtain credit is improved.

What does the Credit Repair Process entail?

Not all credit repair companies are the same. The credit repair company we partner with, carries out the following process:

• Stage 1 - the credit repair company obtains a copy of any credit file held about you with the credit reference agencies
• Stage 2 - they carry out an analysis of your credit file to identify the negative entries on your file which are likely to be affecting your credit score
.
• Stage 3 - Turner Little recommend and agree with you what action can be taken to remove or amend the negative items identified. Naturally, they won't be able to remove information that is properly recorded or if the matter is undischarged
• Stage 4 - They take the action agreed above
• Stage 5 - You get a detailed copy and analysis of your 'Repaired' credit file together with a full explanation of its contents

How long does it take?

The initial process (stages 1 to 3) can usually be completed within 2-3 weeks. Stage 4 can take 2-6 weeks depending upon complexity. Stage 5 takes 2-3 weeks from completion of Stage 4.

If you have a poor credit rating, it's not forever. As your circumstanes change, your credit status changes ... and there are practical steps that can be taken to repair it. To begin to repair and restart your credit status, click here!

Other ways to build a poor credit history is to take out a small unsecured loan or logbook loan. Make sure you pay the loan back religiously and this will start to show future lenders you are a responsible borrowe, and will help you to get the credit you want in the future.