When do credit files REALLY start to repair?

3 Defaults dropped off my credit files this year. Experian and equifax both give a "good" credit rating.

Thing is, I'm still getting turned down for credit, even by those lousy subprime credit card people (Vanquis and the like).

So, given that I am still owe money to the defaulted creditors despite the Defaults dropping off my credit files, it seems that they are still somehow secretly sharing data "behind" the oficial CRAs? Is this a likely explanation?

[miliitant]

Re: When do credit files REALLY start to repair?

the problem is, the banks etc own so many smaller companies, insurance companes etc who all share the same data at a touch of a button

the reason why you are being turned down is because of those defaults you were unable to get credit, so now have no credit history.

a mobile phone contract might help, even the cash plus pre paid credit card has a credit builder facility

i myself do not do credit anymore, i got burnt so never again, cash on the nail or a pre paid credit card does me now

[Ruby]

Re: When do credit files REALLY start to repair?

From what I understand it depends also on other entries on your file. Are you completely up to date? Have you missed any payments in the passed 12 months? How many applications for credit have you made in a fairly short period of time, that could indicate to lenders that you are 'credit hungry'. Defaults as you know do fall off your credit file (settled or not) after 6 six years so I don't think that is the issue for you being turned down. Remember also each company has their own way of credit scoring and things like your employment and income will have a play in things too.

[The Debt Star]

Re: When do credit files REALLY start to repair?

Searches are fine, no missed payments, no aliases and no connected persons. So, the scoring is "good."

I have applied for a couple of so-called advserse credit history cards (like Vanquis and Aqua) and been declined. Unless they are powered by the Bank of Scotland and Egg then they shouldn't know about my debts.

Lends me to think that the industry "may" have some other data sharing systems that the public aren't aware of...?

[The Debt Star]

Re: When do credit files REALLY start to repair?

the problem is, the banks etc own so many smaller companies, insurance companes etc who all share the same data at a touch of a button

the reason why you are being turned down is because of those defaults you were unable to get credit, so now have no credit history.

a mobile phone contract might help, even the cash plus pre paid credit card has a credit builder facility

i myself do not do credit anymore, i got burnt so never again, cash on the nail or a pre paid credit card does me now

Yes, I agree that they are sharing data outside of the CRAs and probably with one another.

[CYNthesys]

Re: When do credit files REALLY start to repair?

Think Aqua belongs to BOS

[The Debt Star]

Re: When do credit files REALLY start to repair?

Think Aqua belongs to BOS

Explains that one then.

[winner12]

Re: When do credit files REALLY start to repair?

Hi Debt Star
Hope you are well sounds like things are getting better for you now if you are starting to repair your credit file
Have you had any credit repair cards come in the post I have had a couple but not taken them up on what they call a fantastic offer
still sifting through my debts and paying some and arguing the others oh the joys of debt
Have you any money to buy that round of cakes you promised many months ago

[miliitant]

Re: When do credit files REALLY start to repair?

AQUA is HBOS as i had one of their cards in my past

egg was city group until aquired by barclays in 2011

vanquish is provident

[Snapples]

Re: When do credit files REALLY start to repair?

Think Aqua belongs to BOS

As far as I am aware in March 2012, BOS sold Aqua to SAV Credit / Progressive Credit Limited

[Ruby]

Re: When do credit files REALLY start to repair?

Aqua is now linked with Marbles I believe. They are all related in one way or the other - incest! I would also like to know why it takes so long for CRA's to update peoples records. I once asked them and they say it is up to the companies to update them, however I think there is more to it than that. I find sometimes that my accounts are not updated for 6 - 8 weeks at a time. Most frustrating when you are working on improving your credit score, albeit I prefer to live within my means these days.

[The Debt Star]

Re: When do credit files REALLY start to repair?

As far as I am aware in March 2012, BOS sold Aqua to SAV Credit / Progressive Credit Limited

Hi folks. Well, it transpires that Aqua HAVE approved my app as I got a contract sent out. Given that I still owe RBS and HBOS money on prior defaulted (but no longer CRA recorded) debts, it might suggest that Aqua are unrelated to either. That said, the credit limit will probably be £250 or something crap like that LOL

Yeah Winner, cakes are on me as soon as the card shows up

[Sapphire]

Re: When do credit files REALLY start to repair?

I have an Aqua card with a £600 limit, after four months they have upped it to £850, but I am being disciplined and paying it off each month as I don't want to go in that spiral again.

[labman]

Re: When do credit files REALLY start to repair?

SAV Credit own Aqua:

http://www.thisismoney.co.uk/money/c...a-deliver.html

[The Debt Star]

Re: When do credit files REALLY start to repair?

I have an Aqua card with a £600 limit, after four months they have upped it to £850, but I am being disciplined and paying it off each month as I don't want to go in that spiral again.

Very wise. Its my opportunity to manage at least ONE line of credit properly