Bad Credit rating

[shinkypink]

My boyfriend has a poor credit rating because he ran up debts a few years ago...he has now paid them all off apart from one which is being paid off as per terms agreed with the lender.
How can he go about improving his credit rating?

[EverClean]

Poor credit file reports will stay on his file for 6 years and will not be amended by whoever put them there unless a mistake has been made. However a credit file can be tidied up if you are on the voters roll at your current address, are not on the voters roll anywhere else, have current credit arrangements that are being well maintained. What does he need this improvement for? Is he looking for further borrowing?

[shinkypink]

He's filled in a form to be on the Electoral Role (He's done that today actually!) and only has �100 left to pay off on his debts (it's council tax that he "forgot" to pay on his last flat - men, so disorganised ;-) ) He's not looking for extra credit at the moment; but in the new year we are hoping to buy a house and I'm concerned his poor credit rating will affect out mortgage options...he also is having trouble securing a mobile phone contact etc...it just frustrating because now he's grown up, and is responsible and able to manage his finances he can't get it - whereas when he was younger and could not afford to pay off store/credit cards - people were throwing them at him!! Thanks for your help.

[EverClean]

That's OK. When it comes to getting a mortgage lenders will look at any issues but have a sympathetic attitude to when the issues arose - ie you'll get a better deal if he's got rent arrears 12 months ago than if they were 2 months ago. The longer he conducts his finances well, the better risk he'll be in lenders eyes.

[shinkypink]

So we just have to wait it out, and his credit rating will improve as time passes and he gets 'positive' marks on his credit rating?

Thanks again for help.