Missed payment on credit score

[letsgowiththat]

Hello

I'm not sure if this is the correct topic but hoping someone will be able to give me a bit of insight.

I am working on my credit score, I have been through some very tough times over the last few years but I am now very stable, have received a significant wage increase over the last couple of months and I have good amount of money set aside too. Overall though my credit score took a beating especially since I don't have much of a history to begin with so not much to go on.

I have a current account with a high street bank, it used to be my main account but I then moved onto a joint one with my partner and just left it alone. Due to a silly error I didn't keep an eye on it as I was sure I moved all my DDs over but it turned out there was a small one going out and my account went into an unplanned overdraft without me knowing, it was silly money something like 1.99 but I did not receive the letters informing me about it initially as we live in an awkward little spot and the new postie delivered our post to the address next door (not the first time or last our parcels end up there) which was stood empty at the time and by the time I realized it has gone on my credit as missed payments which I am massively kicking myself about.

Me and my partner want to get a mortgage together at some point but
I believe it's pretty much impossible with my current credit - even though we can more than comfortably afford it with our current wages (and my recent pay rise). I am aware we need some time under our belts and we are happy to wait but I really want to improve mine asap.

I am very new to all this but - is the unplanned overdraft/missed payments something I could raise with the bank? Considering it was such a small amount and I now have a healthy looking balance with them can they do something/put a note on the credit so that it looks better to lenders or is it just something I have to suck up?

You can ask your bank to remove the missed payment. Mine didn't when I asked but I know they do sometimes.

You can still get a mortgage with a poor credit score.

You could contact the bank in question, explain you moved banks and had your direct debits transferred across to the new bank, and were unaware of any active direct debits left on your account with them. Whilst they can offer some help for overdraft charges, there is a good chnce they will not be able to change your credit report with missed payments, as that will be down to the company that the direct debits were for.

Whilst it sounds like you are taking some great steps to getting back on top of your finances, to build your credit score, you could look into a credit building company. These are becoming increasingly popular, and Portify is a great option. They have two memberships, and the Plus membership could really help with building all your credit scores, and help you track your finances, ready for your mortgage application.

They won’t remove it from a goodwill perspective, as your credit file has to reflect your financial history. The only time they will remove the info is if they have been at fault.