How long does it take for a bad credit rating to become good again? We missed a few payments on some loans…
but now we are making regular payments again and have been for about three months. Also can you find out what your credit rating is? I’m in the UK
It is not a given that your credit card company did report it to the credit scoring agencies. To be sure, spend a few pounds and get your file sent to you. Experian and Equifax offer these services.
If you have paid you can apply to have the items removed from your credit record.
I would them apply for what ever you need your good credit record for. You often find that you don’t get refused credit, but may pay a little more in interest. The principle that that better your credit the less interest you pay is true.
I’d be amazed if you get refused credit for missing only three repayments.
6 years I’m afraid!!
References :
It was seven years the last time I checked. Ask trading standards for address of credit reference agency’s and contact them, there is a small fee for a print out of your rating
References :
ages!
References :
missing payments was it over 30 days late if not may not have even been reported if you have good record with the place will cause your rating to drop the only people to hold that against you long term is mortgage company’s but you can write a letter you can also goto the credit agency’s and write a explanation any thing helps. the USA has a once a year free credit check. how much that affects you depends on a lot of things.
References :
https://www.annualcreditreport.com/cra/index.jsp
It is not a given that your credit card company did report it to the credit scoring agencies. To be sure, spend a few pounds and get your file sent to you. Experian and Equifax offer these services.
If you have paid you can apply to have the items removed from your credit record.
I would them apply for what ever you need your good credit record for. You often find that you don’t get refused credit, but may pay a little more in interest. The principle that that better your credit the less interest you pay is true.
I’d be amazed if you get refused credit for missing only three repayments.
References :
About 6-7years, providing you don’t have any more problems.
To find out your credit rating, checkout CREDITEXPERT by Experian http://www.fool.co.uk/debt/creditreportcentre.htm
(free for the first month, then charge you £5.99 a month subscription after that to continue access to it if you don’t cancel before then).
References :
years of hanging out @ http://www.fool.com
(and used CreditExpert a couple of times before)