 We can offer specific advice how to fix bad credit . T he following general information may help you better understand how credit ratings and credit records are determined. It does not constitute financial advice and you can contact us directly for further information , help and advi c e on the process of how to rebuild bad credit.
Fix Bad Credit Information
Even if you don't necessarily think you had bad credit, it may be worthwhile to check your credit report or credit reference to see if there are any problems with it. You may find something to fix or correct if you carefully examine each item on your credit record. So even if you have good credit you may want to consider regularly checking your credit record and confirm the validity of each item on your report.
If you choose to fix your credit report in advance of applying for a mortgage you may be able to get a better interest rate and therefore save money.
To start fixing your credit, you may want to consider ordering your credit report to see what it contains, this normally costs two pounds.
It can be advisable to order a copy of your credit report from one of the major credit reference agencies if you have been denied credit. You may want to check your credit report every 6 months to make sure it is accurate. Banks and credit card issuers may be able to advise you which credit reference agency they use so you will know which report to order. Ordering your credit report may be a good first step to fixing your credit.
If you order your credit report, check all the information that it contains including:
- your full name (and any previous names)
- telephone number
- CCJs, IVAs (individual voluntary agreements), court orders, bankruptcy orders
- repossession
- your credit history
- current and previous addresses
- employment history
- marriages, divorces
Here are few more details what to look for while trying to fix credit. Some things that may be important are:
- your name and address
- incorrect account histories - late payments when you've paid on time
- accounts that you know you never opened
- court orders you were not involved in
- discharged bankruptcies
- credit inquiries older than two years
- a missing note when you've disputed a charge on a credit card bill
- any account that is not listed as "closed" if you did close it
You can also consider fixing your bad credit with Remortgages. See our form for free advice.
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