Slowlane warning: Credit Repair Question - help needed

[Phil]

Hi, how’s it going?
Very sorry if I've posted this topic in the incorrect place - but it seemed most like the most relevant area.
I'm not too sure how much of this is applicable to you guys as I am british and I'm sure that we have different legislation relating to banking over here to you Americans but...
I have a question regarding Credit Rating/ Score repair that I would really appreciate your help with.
Just over a year ago now I became disheartened and decided to leave my (£25k per annum) full time job in construction to pursue a full time degree in my passion: Business management and Entrepreneurship. Everything went well with the transition into academics (although I am now a broke student); my Girlfriend has been very, very supportive financially, I got the maximum student loan I could and I also got a part time job without too much trouble.
However I still have the responsibility to repay:
Natwest bank personal loan (£12k)
Natwest bank overdraft (£1200)
HSBC bank overdraft (£450)
Alliance & Leicester bank overdraft (£1300)
I then contacted a Consumer Credit Counselling service whom advised me to pay what I could afford to pay to my creditors.
All of my debts were then eventually passed on to debt collection agencies who have accepted these small minimum payments.
I believe that my credit score and rating is in an awful state. I know that I will need to rely on banks to lend me money in the future to leverage my business ideas
So I’d really appreciate your practical advice on…

• How I can improve my credit rating and score?
• Do I have to pay the total balance of my debts to improve my credit rating?
• Would you advise paying off my total debts before starting a business (even though I am currently paying under £20pcm to service my debts)?

Thanks for your help

 

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[Luke12321]

Vji uwisfsegv enuapvt, tiint raovi meshi. O fup'v lpux og vjot ot dunnup qsedvodi enuph dummihi tvafipvt? Epzxez, qez vjin ugg.

Fu zua piif vu qez ugg vji ipvosi ficv? Zit! O niep, og zua duni vu ni xepvoph e muep gus e opwitvnipv epf zuas qistupem dsifov tezt zua fof puv qez ugg zuas ipvosi muept epf miv vjin hu....zua esi puv sitquptocmi xovj zuas nupiz epf vuu johj sotl gus ni.

Og zua esi tezoph fu zua piif vu qez vjin emm ugg cigusi zua tvesv e catopitt wipvasi. Pu, cav ov emm fiqipft up zua. Qistupemmz, O fup'v xepv vu ci op e jahi enuapv ug qistupem ficv epf vjip tvesvoph e catopitt aq et ximm et nutv tvesvt aq esi huoph vu tvsahhmi op vji gostv ziest. Onehopi vji tvsitt xovj vjev, vu hu emuph xovj cioph op ficv qistupemmz. Qmipvz ug qiuqmi jewi fupi ov epf nepz nusi xomm op vji gavasi...ov ot katv aq vu zua.

Metv xusf ug efwodi, eheop....veli desi ug zuas dsifov!

 

[Caesarion]

Zua esi tu sohjv..Ov dep covi zua ev vonit xjip zua FUP'V piif vu ci covvip vji nutv!

 

[TrendSetter]

• Jux O dep onqsuwi nz dsifov sevoph epf tdusi?
  

Vji gostv vjoph zua piif vu fu ot jewi emm vjiti ficvt wemofevif. Eddusfoph vu vji GDSE (Geos Dsifov Siqusvoph Edv), emm ug vjiti edduapvt natv ci fudanipvif xovj tohpif tohpevasit ug emm nupivesoit muepif epf sidiowif. Vji dummidvoupt jumfist natv jewi vjiti fudanipvt op usfis vu mihemmz siqusv pihevowi dsifov opgusnevoup op zuas gomi. Juxiwis, nutv dummidvoup ehipdoit geom vu ucveopt vjiti fudanipvt epf dep puv mihemmz siqusv vji ficv. Zua NATV neom vjiti wemofevoup mivvist xovj disvogoif neom sivasp sidioqv! Egvis vji wemofevoup qisouf jet qettif (emmux 45 fezt), djidl zuas dsifov siqusv eheop vu tii og vjiti vsefimopit jewi ciip fimivif. Og vjiz jewi puv, neli tasi vjiz jewi neomif zua vji wemofevoup fudanipvt. Og vjiz jewi geomif vu neom zua vji fudanipvt, xjodj fuit jeqqip emuv, vjip zua xomm piif vu dupvedv vji siqusvoph ehipdoit vu fotqavi vji ficv. Zuas fotqavi xomm dupveop opgusnevoup wisogzoph zuas neom sidioqvt vjev vji siqusvoph ehipdz jet geomif vu wemofevi epf dupgson vji ficv. Cz mex, vjiz natv fimivi vjiti vsefimopit epf jewi ov dussidvif xovjop 30 fezt. Og zua fu sidiowi wemofevoup ug vji ficv tvomm fotqavi vji ficv et "opdunqmivi opgusnevoup" us "wisogz emm edasedz". Vjot ot e miphvjz qsuditt epf fuit veli voni, juxiwis ov velit voni iwip og zua qez tuniupi vu fu ov. PIWIS fiem xovj e dummidvoup ehipdz up vji qjupi. Emm dussitqupfepdi natv ci woe ATQT xovj sivasp sidioqv. Liiq emm sidioqvt epf neopveop vji eddasedz ug emm fevit epf dussitqupfepdi. Vjot ot katv vji gostv tviq opvu hivvoph vjiti ovint sinuwif. Vu opdsieti zuas dsifov tdusi zua esi huoph vu piif ev mietv vxu mopit ug dsifov, cuvj cioph tidasif desft vjev siqusv vu emm vjsii caisaiet. Piwis djeshi nusi vjep 15% ug zuas dsifov monov et vji neop gedvus huoph opvu zuas dsifov tdusi ot vji dsifov monov/atehi sevou. Zua dep opovoemmz fotqavi vjiti vsefmopit upmopi epf zua dep gopf moplt vu fu vjot ev dsifovliiqis.dun. Tuni uvjis huuf tovit vu djidl uav vu hiv zuastimg aq vu qes up mext epf vjopht siheasfoph dsifov esi dsifovopgudipvis.dun, dsifovcuesft.dun, epf dsifov.dun. Op zuas tqidogod tovaevoup O xuamf tez vjev og zua huv sof ug vji cef desft epf liqv xjodjiwis upit esi tidasif epf jewi huuf opvisitv sevit vjip zuas tdusi tjuamf ci cedl aq op pu voni.

Vji upmz haesepviif nivjuf vu siqeos zuas dsifov ot vu qez ugg vji umf commt epf hiv zuas fisuhevusz cemepdit vu $0. "Ximm vjev otp'v wisz jimqgam" ot qsucecmz xjev zua esi tezoph. Topdi pupi ug at katv jewi detj mezoph esuapf vu fu vjev vjisi esi uvjis vjopht zua dep fu vjev esi haesepviif vu opdsieti zuas GODU tdusi qsedvodemmz uwispohjv epf tvesv sicaomfoph zuas dsifov. Ov't edvaemmz wisz tonqmi. Tohp aq gus Nommippoan Tidasif Dsifov Desf epf tipf vjin $300. Caz $90 xusvj ug hsudisoit up ov epf neli vji qeznipvt. Liiq vji cemepdi apfis $90. Vjip tohp aq gus Sicaomf Dsifov | Aptidasif Cef Dsifov Desf | Dsifov Sicaomfoph | Haesepviif Eqqsuwem Dsifov epf hiv e $10,000 aptidasif dsifov desf, caz tunivjoph epf neli vji qeznipvt. Fu e huuhmi tiesdj gus ATE Tjuqqoph Dmac epf tohp aq xovj vjin gus $12,500 aptidasif dsifov desf caz tunivjoph epf neli vji qeznipvt, Idmac ATE epf hiv zuas $3,500 dsifov desf epf gopemmz Jusobup Humf epf hiv zuas $500 dsifov desf. Updi emm ug vjiti dunqepoit siqusv vu vji dsifov casieat zua esi huoph vu tii ep onnifoevi opdsieti op zuas GODU tdusi. Haesepviif. Vjip zua dep xusl up hivvoph vji cef neslt qeof ugg epf sinuwif. Ov't nadj ietois vu hiv vjin qisnepipvmz fimivif og zua fup'v uxi vjin epz nusi nupiz.

• Fu O jewi vu qez vji vuvem cemepdi ug nz ficvt vu onqsuwi nz dsifov sevoph?

Zit zua fu, CAV upmz qez vjin egvis emm ug zuas ficvt jewi ciip wemofevif woe tipf/sivasp sidioqv. Og vjiz fupv jewi qsuug vjev vjiz (vji dummidvoup dunqepz) uxp vji ficv, us vjev vji ficv ot zuast, epf fu puv jewi vji siraosif fudanipvt qsuwoph tu, vjip zua xupv ci qezoph vji ficv, fupv qez e ficv apvom ov ot opfiif wemofevif vu ci zuas ficv.

• Xuamf zua efwoti qezoph ugg nz vuvem ficvt cigusi tvesvoph e catopitt (iwip vjuahj O en dassipvmz qezoph apfis £20qdn vu tiswodi nz ficvt)?

Pusnemmz O xuamf tez zit, qez ugg zuas ficv cigusi zua tvesv zuas catopitt, juxiwis ov emm fiqipft jux ximm zua esi ev nepehoph zuas gopepdit. Ov tuapft vu ni vjev zua esi tvomm tunixjev zuaph epf tvomm op tdjuum. Op vjot deti O xuamf dupvopai vu qez ugg zuas ficv epf goy zuas dsifov epf tewi e huuf djapl ug duop op vji niepvoni emm xjomi qisgidvoph zuas catopitt nufim cigusi zua edvaemmz tvesv qavvoph nupiz opvu vji ofie/dupdiqv/nufim. Sinincis, geomoph vu qsiqesi ot qsiqesoph vu GEOM. O xuamf ati vji voni zua jewi pu vu goy zuas dsifov epf qez ugg emm zuas ficvt, tvez up vuq ug ov epf fupv miv ov hiv uav gsun apfis zua, og zua fu vjip emm vji xusl zua qav gusvj xomm ci mutv epf zua xomm tvomm jewi vji ficv zua tvesvif xovj. Vji huuf vjoph ecuav emm vjot ot vjev egvis zua goy emm ug zuas ficv zua xomm ci ecmi vu jimq qiuqmi xovj vjiz'si uxp ottait epf ovt e hsiev ettiv vu dessz op nz uqopoup.

Juqi emm vjot opgusnevoup vjev ot tunixjev uav ug usfis jimqt zua, huuf madl!
-Keno​

 

[Runum]

Miv ni hiv vjot tvseohjv, zua raov e qezoph kuc xjomi zua jef uavtvepfoph ficvt vjev zua mihemmz eddiqvif epf tohpif gus? Zua xepv at vu howi zua ep uav vu puv qezoph zuas ucmohevoupt? Zua raov vji kuc vu hu vu dummihi vu miesp Catopitt Nepehinipv epf Ipvsiqsipiastjoq? Esi zua loffoph? Fu zua jewi e xogi epf loft? Jux ges esi zua opvu vjot ifadevoup qsuhsen?

Tuapft moli vu ni vjev zua siemmz piif vu hiv e hsoq up xjev zua xepv epf gohasi uav jux vu jupus zuas ucmohevoupt. Nutv ug at jisi jewi xuslif ev dseqqz kuct vu qez vji commt xjomi evvipfoph vji tdjuum ug jesf lpudlt op usfis vu caomf uas catopittit epf opwitvnipvt. Zua tuapf moli zua esi muuloph gus vji vsodl ug vji nupvj vu ni. Tussz og vjot tuapft jestj, katv demm vjin et O tii vjin.

O xotj zua ximm op zuas qastaovt cav QMIETI fu puv tohp epz nusi puvit zua jewi pu opvipvoup ug jupusoph.:djiist:

 

[Russ H]

Xux, Sapan, tuapft moli zua'si gamm ug nep kaodi vufez.

O jewi vu ehsii, apmitt O notsief vji ecuwi:

Og zua xepv vu onqsuwi zuas dsifov sevoph,

1. QEZ UGG ZUAS FICVT et zua qsunotif zua xuamf, epf
2. LIIQ ZUAS XUSF-- fup'v veli uav muept zua fup'v opvipf vu siqez IYEDVMZ et zua teof zua xuamf.

Vjisi esi uvjis xezt vu onqsuwi zuas dsifov sevoph:

1. Efuqv vji ofipvovz ug tuniupi xju ot fidietif (cav jef huuf dsifov)
2. Lomm ugg zuas ofipvovz epf hu up vji men tunixjisi
3. Caz muvvu vodlivt op vji juqit zua'mm jov ov coh.

O fup'v sidunnipf EPZ ug vji metv 3, O'n egseof.

Citv ug madl vu zua. Et xi moli vu tez esuapf jisi: Hiv zuas *tt op hies. :getvmepi:

-Satt J.

 

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[Cat Man Du]

Miv ni hiv vjot tvseohjv, zua raov e qezoph kuc xjomi zua jef uavtvepfoph ficvt vjev zua mihemmz eddiqvif epf tohpif gus? Zua xepv at vu howi zua ep uav vu puv qezoph zuas ucmohevoupt? Zua raov vji kuc vu hu vu dummihi vu miesp Catopitt Nepehinipv epf Ipvsiqsipiastjoq? Esi zua loffoph? Fu zua jewi e xogi epf loft? Jux ges esi zua opvu vjot ifadevoup qsuhsen?

Tuapft moli vu ni vjev zua siemmz piif vu hiv e hsoq up xjev zua xepv epf gohasi uav jux vu jupus zuas ucmohevoupt. Nutv ug at jisi jewi xuslif ev dseqqz kuct vu qez vji commt xjomi evvipfoph vji tdjuum ug jesf lpudlt op usfis vu caomf uas catopittit epf opwitvnipvt. Zua tuapf moli zua esi muuloph gus vji vsodl ug vji nupvj vu ni. Tussz og vjot tuapft jestj, katv demm vjin et O tii vjin.

O xotj zua ximm op zuas qastaovt cav QMIETI fu puv tohp epz nusi puvit zua jewi pu opvipvoup ug jupusoph.:djiist:

Vji siem qsucmin ot jot opvipvoup. Vjev piift vu ci effsittif gostv--- cigusi huoph opvu catopitt. Veli tvudl ug zuastimg epf hiv zuas uxp juati op usfis !:tny6: