If I pay a loan back that is arrears with a bank will it improve my credit rating?

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I had an Unarranged Overdraft with my Bank of Scotland Account for £2500, I have missed two months of paying this balance but I am going to pay them back £100 a month via a Debt Management Plan.
Will this improve my Credit Score and Rating as I am making a monthly payment towards the Bank Account that is in Arrears etc.

1 Comment
  1. Reply
    Foster DAD
    July 18, 2011 at 1:11 pm

    It will help. You may have slow payments on record for awhile but what you are doing is putting you into the right direction. Now you need to forget “competing with the Joneses” and find a way to live within your means. Don’t purchase what you cant pay for.Make use of thrift stores and Flea markets And yard sales. I have done it for years and usually come out ahead.So can’t you .You just have to make up your mind that it is necessary for you to do and you will come out OK.

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