| T O P I C R E V I E W |
| Bear171 |
Posted - 09 March 2010 : 13:52:06
Hi everyone,
I was discharged early from my bankruptcy in December 2009. I have been trawling the internet looking for ideas on how I can start to rebuild my credit rating.
I have a full time job now (as of 4 weeks ago - phew!), a bank account with cash card only & a savings account.
I recently applied for a Vanquis Card as that's the card everyone on the internet suggests but I have been turned down. 
Now I'm worried that my credit rating is even worse (if that's possible)!!!!!!
I just wondered if anyone had any advice?????
Confused of Crawley
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| 15 L A T E S T R E P L I E S (Newest First) |
| chester2005 |
Posted - 13 June 2010 : 11:46:41
with the interest rates they cahrge for the cards you will likely get post BR it would be very easy to get in a mess again.
Be very careful that you only spend what you can afford to pay, and don't lose sight of your outgoings.
Vanquis, capital one, cash plus credit builder, some mobile phone contracts and catalogues are the only ways to help your credit rating but only if you have cleaned up your files with the CRAs first or fairly much everything will be refused.
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurhman)
RevivaUK and Paul Johns helped me through it all i can't recommend them enough!! |
| Skippy |
Posted - 11 June 2010 : 11:15:00
I only use mine if I know I can pay it off as soon as the statement comes in.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
35 IPA payments made, 1 to go - 19 days and counting! |
| Paul 50 |
Posted - 11 June 2010 : 09:28:46
I know what you mean about having another Credit card after BR. Unfortunatly it is a neccessary evil in repairing you credit rating. I only use mine on stuff I have the cash to pay for,then put the cash aside until the bill comes in... works for me ! |
| Skippy |
Posted - 11 June 2010 : 08:30:09
I agree with RHB - we've had thousands of pounds of debt written off, so why should any lenders make it easy to get more credit?
I've got mine to help rebuild my credit rating. And before anyone thinks I haven't learnt my lesson I have, but I know it's unrealistic to think I can live without credit forever. For example my car is fine at the moment, but one day I'll need a new one and will need finance for it.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
35 IPA payments made, 1 to go - 19 days and counting! |
| stonecoldbroke |
Posted - 11 June 2010 : 07:48:56
I dont really understand why anyone would want another credit card after bankruptcy?? |
| RHB |
Posted - 11 June 2010 : 07:28:10
But if you go BR you have had thousands of pounds of money that you borrowed wiped out. Surely it's a good thing that you can't then access credit easily?
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| xmas baby |
Posted - 10 June 2010 : 16:04:03
I don't think the chances of getting even 1 credit card are high at the moment. I don't even want to spend on it, I just want to try and get my credit score rebuilt.
I know this sounds defeatist, but after everything you go through with a bankruptcy and when you are finally discharged, there are still loads of hurdles and obstacles put in your way for years to come (if not forever). It really is unfair.
xmas baby |
| Paul 50 |
Posted - 10 June 2010 : 08:43:45
Hi Richard
I would give Capital One a miss if I were you, I've had a Vanquis card since Discharge Feb Only for improving my Credit rating. Then I to saw the advert for Capital One card for discharged BR.
Before applying I explained numerous times about my circumstances and if there was any chance of a refusal leaving a footprint on my file forget it.
I was then encouraged to proceed... guess what.. I was turned down because my credit score was so poor.
I was Fuming!! what did they expect after only 4 months since Discharge. |
| Richard P |
Posted - 09 June 2010 : 22:14:39
has any one seen capital one advertising on the web for credit cards for discharged bankrupts interest rate is 35.8 %
dont think they will allow me to apply as they one of my big creditors ! worth a go tho
Richard |
| Skippy |
Posted - 09 June 2010 : 20:55:43
Definitely! I won't be having any more, I couldn't cope with the stress of keep track of them these days!
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
35 IPA payments made, 1 to go - 19 days and counting! |
| RHB |
Posted - 09 June 2010 : 20:46:49
I agee one is fine, but it'a when you atart getting more than that that it starts to become difficult to keep tracks, & what they charge for late payments is horrendous!!!
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| Skippy |
Posted - 09 June 2010 : 14:43:48
One is fine providing you pay it off in full every month. I had a direct debit set up to pay the balance in full every month (until Vanquis screwed it up!) and I'm now paying in full by debit card.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
35 IPA payments made, 1 to go - 19 days and counting! |
| RHB |
Posted - 09 June 2010 : 14:28:42
I wouldn't suggest getting too many credit cards or you could quickly start on the slippery slope again. |
| Skippy |
Posted - 09 June 2010 : 14:21:48
Yes, you need to write to your creditors individually asking them to amend your credit file.
If you have a look at my blog there is a copy of the letter that I sent to each of my creditors.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
35 IPA payments made, 1 to go - 19 days and counting! |
| xmas baby |
Posted - 09 June 2010 : 14:15:06
I just applied for a vanquis card online, but was rejected. I was discharged on 6th March and I am no longer on the insolvency website. I did a check on experian yesterday and although my bank has stated my debts with them are now settled, the other credit cards still have outstanding debts on them and have not been updated to reflect my bankruptcy. Does this mean I now have to write to them individually asking them to update the information on my files?
xmas baby |
