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 which is the best way to restart my credit rating?		  New Topic  Reply to Topic
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Marc75
Starting Member



2 Posts
Posted - 26 December 2011 :  22:32:05  Show Profile  Visit Marc75's Homepage  Reply with Quote
which is the best way to restart my credit rating?

Niobe
Administrator



United Kingdom
4590 Posts
Posted - 26 December 2011 :  22:43:26  Show Profile  Reply with Quote
Hi and welcome to the forum.

If you are BR then your credit rating is stuffed for six years from the date you were made bankrupt.

Such things as a mobile phone contract and keeping your bank account and morgage/rent up to date will help.

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



Jan
xxx
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Frank
Starting Member



18 Posts
Posted - 01 January 2012 :  14:40:17  Show Profile  Reply with Quote
This is just our take on things but we have to say our advice is don't bother and avoid credit like the plauge.

We've certainly found that now nearly 3 years on we have no debt, we do this odd thing called "saving money" and only buy what we can afford.

This I can tell you makes for a very stress free life.Though I appreciate the use of credit cards etc are useful you can live without them.

As I say, not judgemental in anyway but do think long and hard before jumping back on the credit train...

Here we go again...
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Niobe
Administrator



United Kingdom
4590 Posts
Posted - 01 January 2012 :  15:49:39  Show Profile  Reply with Quote
You can't say that you will never need credit again - what about if you need a mortgage at some point in the future?

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



Jan
xxx
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Skippy
forum expert



United Kingdom
3290 Posts
Posted - 01 January 2012 :  17:58:35  Show Profile  Reply with Quote
I don't think it's realistic to say you'll never need credit again. Mortgages, car finance etc are all credit and I know that, unless I win the lottery, I'll need car finance.

I have a Vanquis card (paid in full every month), mobile phone contract and bank account all helping towards improving my credit rating.

View my blog at http://skippy13.blogs.iva.co.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.

Last IPA payment made on 28th June 2010 and I'm now looking forward to getting married in September 2012 - I'm proof that you can go BR and come out the other side.
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Niobe
Administrator



United Kingdom
4590 Posts
Posted - 01 January 2012 :  21:35:41  Show Profile  Reply with Quote
Just to add that there is 'nothing odd' about saving money if you can.

Credit cards are fine in their place as long as you pay it back straight away.

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



Jan
xxx
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