credit rating and mortgages - help!

[shreddies]

I've really messed up - I was refused for a joint account and got hold of a copy of my credit rating report from Experian. I have some bad ratings, one from a credit card I had set up to juggle zero interest rates.

I have always earned good money, never go overdrawn, am a home owner, have never defaulted on bills etc. I am really worried that when I come to get another mortgage I won't be able to. Does anyone have any idea of how it would affect my chances, or how long those records stay valid?

Am kicking myself

I don't know how long records stay on your report but I do know that each organisation who requests it makes their own decision based on their own criteria. It may be that as your mortgage has always been paid, even if you have made a mess of shorter term borrowing, mortgage companies may be ok with it. I'm no specialist but is it possible to ask the question of Experian themselves?

Sorry you're so worried but I think that nothing stays on there forever.

I think it is 7 years. Then deemed no longer relevent

It's six years from the outstanding amount being satisfied.

Are those accounts where you have bad ratings settled now, or are they still a problem? Late/forgotten payments or CCJs? CCJs stay on the record 6 years, otherwise if you can make it clear they're sorted now, then do.

Mortgages can be strange but if your mortgage payments show no problems then I would have thought that could help, but start by having a look at the bad ratings and whether you can clear up problems and update your record that way.

My boyfriend's finances have been a disaster for ever, but I'm sure his rating is better than mine lately, as he managed to get a credit card again (eek) and set up a monthly direct debit for minimum payment so he never defaults, and he has a crazy overdraft limit which I really hope he never gets anywhere near.

Thanks, that's helpful - all payments are settled now, but the credit card I mentioned was only settled Jan 06, so a long time before it is cleared. The annoying thing is I never used it, so any arrears on it would have been some sort of banking admin charge

shreddies, contact the card people for that card and ask what was on it. If it was charges on a card you never used then they pretty much have to be wrong and you should start a claim for the money back.

You should also contact them to get in touch with the credit reference agencies to settle the score that it wasn't you fault and take the problems off your record. You can also complain to them that it has caused you problems with other applications, through no fault of your own, and claim comensation for that.

This is about cleaning up your credit record clean up your credit record

This is about getting bank charges refunded which is guess would be similar to credit cards refund bank charges

Stamp your feet over the things that weren't your fault and accept gracefully the things that were. You can get credit records changed if they are inaccurate.