My credit score has already been damaged by my debts I really don't know what to do I want to try getting a morgage with my girlfriend in about 3-4 years time. To live and to pay day to day bills aswell as child support for my son I am finding it hard to see how i'm possibly going to do it, as we both want to get married an my debts are just in the way. Please give me some advise on the best way to get my debts sorted an credit score back up again.
I advise you speak to an expert to discuss your situation and see what options are available.
If you declare bankruptcy or enter into an IVA, then your credit rating is ruined for 6 years and a mortgage probably won't be possible. If you enter into a DMP, your credit rating is still ruined and your creditors can carry on chasing you.
If you can manage your debts, then the best way to get your credit rating back to good is to get up to date with your payments or pay your debt off, and make sure your creditors update all of the credit files to show that.
I totally agree with Viki - you are highly unlikely to be able to get a mortgage whilst your credit rating is shot.
With any debt solution then your credit rating will be shot for at least six years and then you have to try and build it back up again.
As Viki says - speak to an expert, you can find details on this forum, the iva forum or www.iva.com - give one or two companies a ring for some free advice.
Follow through Make your dreams come true Don't give up the fight You will be alright 'Cause there's no one like you in the universe
Best way to get debts sorted and credit score back up ?
Posted - 30 September 2011 : 06:02:11
