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Credit rating & black listing?*

If you have a bad credit rating and had debts that are now cleared, how long does it take for your credit rating to get back to normal?

Answers:

1) Read the book.....

2) there is no such thing as a credit blacklist it takes a while to get your credit rating up again but it can be done there are cards for people with a bad credit rating if you do a search for vanquis and see if they can help and if you get one make sure you make your payment s on time if your debts are all settled i think you start again as if you had no credit rating

3) Your credit score is just a guide, the rating you get depends on Different credit companies view the evidence provided by credit reference agencies in different ways, and what's more they don't have to tell you how they interpret it. The judgement isn't a straightforward "normal"- can get credit everywhere, "bad" nowhere, there's a sliding scale. You probably will never be judged A1 good risk, but by using credit responsibly you will improve your score.

4) As with many things, it depends on the details. This answer is based on the situation in the UK. If you were in default with one or more of your creditors (they would have sent you a default notice if this was the case), then the record will remain on your credit file for six years from the date you settle the account. The same applies if you have a County Court Judgement against you that wasn't satisfied within 30 days, although you can get the satisfaction noted on your record after that time. It will be very difficult to obtain credit while these markers remain on your file. Late payments also remain for six years but are generally viewed more sympathetically by lenders. To know for certain where you stand, the best thing to do is to get hold of your credit files.

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