A Guide To Repairng Credit
by: Shaun Smith
Credit Repair Service- A Guide to the Procedures.
Have you ever been refused credit? Why use expensive debt management companies when for a small investment you can repair and restart your credit file giving you a light at the end of the tunnel.
You are not alone! Across the UK each year millions of people attempt to obtain Loans, Credit Cards, Store Cards, mortgages, mobile phones, cars etc and are turned down.
The reason – A poor Credit Rating.
If you have Adverse information on your credit file such as: -
> County Court Judgements (paid or unpaid)
> Defaults (paid or unpaid)
> Family Adverse Credit
> Blacklisting
> Bad Payment History
> Incorrect Information
> Credit Searches
> Fraudulent Applications
> Out of Date Information
> Repossessions
You will be given a bad credit rating and will almost certainly be refused further credit.
If you do not clear or amend the negative information held on your file this situation will continue. Repeated applications for credit will only serve to worsen the position for you as all sizeable institutions will run credit checks on you before granting credit. These searches will register on your credit file and their mere presence will affect your creditworthiness adversely.
Any kind of bad credit information, including CCJ’s and defaults remain on the credit files for a MINIMUM OF 6 YEARS regardless of whether the debt has been paid off or not. Other members of your family at the same address with adverse history may affect your credit file. Your address may be blacklisted for credit through no fault of your own thus preventing you from obtaining credit. Out of date information on your file or incorrect information may prevent you from obtaining credit.
There are a lot of companies out there that guarantee to repair your credit obviously for a fee (avoid these). You must bear in mind that there is no guarantees but there are certain procedures you can follow which are simple and completely legal methods for removing or amending county court judgements, Default notices and other adverse credit information registered against your name and address.
We have compiled a step by step guide incorporating all the information you need to contact the relevant organisations and procedure to help repair your credit history.
Contents of our step by step Credit Repair-A Guide to the Procedures
• Introduction
• A Step by Step Guide on amending and removing County Court Judgements and Defaults.
• Example of letter to the credit reference agency to request a copy of your file
• Example of letter to the County Court to request your Judgement file and Form N244
• Example of letter to the County Court to request that your CCJ be marked as Satisfied
• Example of letter to the credit reference agency to request removal of a default from your credit record
• Example of a completed Form N244 – Notice of Application
• Valid reasons that can be used , on Form N244, to have a CCJ set aside
• Example of letter to the credit reference agency to cover not being on the electoral roll
• Copy of Schedule 1 (Regulation 2) of the Credit Reference Agency Files- Consumer Rights under Section 159 of the Consumer Credit Act 1974
www.sweetmoneypublications.com
About The Author:
Shaun Smith
(c)2006 www.sweetmoneypublications.com
info@sweetmoneypublications.com
March 2006
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