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How to start rebuilding credit rating

(2 Posts)
OvertiredandConfused Wed 25-Sep-13 11:48:54

So ours is shot to pieces. We've had an awful couple of years and just hung on by the skin of our teeth. Mortgage is on track - we missed two payments with permission in advance 22 months ago - and have almost caught up with the arrears as well as managing other payments properly and on time. No overdraft as bank converted it to a loan. I have two credit cards on a manageable payment plan and all other outgoings - insurance, tv etc have funds to meet the DD when first presented. Nothing else in arrears.

Other than keeping up the payments properly, being proactive etc, is there anything else we can do to rebuild your credit history? We'll probably need a new car in a couple of years for example and I'm worried about getting a loan even though we'd be able to afford it.

CogitoErgoSometimes Wed 25-Sep-13 12:05:49

You can, I'm told, contact your creditors and negotiate them taking their bad reference off your file in exchange for extra payments or similar. My DB is currently doing that with a loan company with whom he defaulted. He's settling the balance of the loan early in exchange for them wiping his file clean at the end of the year.

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