Account with an old debtor
sarahb7538
Posts: 135 Forumite
Hi,
I am in a DMP which is now coming to an end, and will be finished very soon. I want to open a help to buy ISA as I havw worked hard to repair my credit rating and want to buy a house soon. I can see that Barclays have the best rate of interest on the help to buy ISA.
However, Barclays were one of my debtors - although I settled the account I had with them in full via my DMP over 12 months ago. Would it be worth trying to open an ISA with them? Or am I likely to be blacklisted? It's not a credit account, just for savings so maybe this will be ok?
Any advise or similar experience would be gratefully received.
Many thanks
I am in a DMP which is now coming to an end, and will be finished very soon. I want to open a help to buy ISA as I havw worked hard to repair my credit rating and want to buy a house soon. I can see that Barclays have the best rate of interest on the help to buy ISA.
However, Barclays were one of my debtors - although I settled the account I had with them in full via my DMP over 12 months ago. Would it be worth trying to open an ISA with them? Or am I likely to be blacklisted? It's not a credit account, just for savings so maybe this will be ok?
Any advise or similar experience would be gratefully received.
Many thanks
March 2017 - Debt Free- cleared £21,750
On a mission to repair my credit rating & own my own home
On a mission to repair my credit rating & own my own home
0
Comments
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Hi,
No such thing as a credit blacklist, creditors keep you on file for at least six years, some for seven.
Few keep records longer than that.
I had an IVA that lasted six years, my biggest creditor was first direct, owed over £15,000.
After it was all finished, I reapplied to them for a new bank account, and was accepted without question.
Your past does not follow you around for ever.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
From personal experience I can say it is possible to get an account with Barclays after you have had past financial difficulties with them. I had a Barclaycard years ago and got into a mess with it. Today I have a Barclays account (for the Blue Rewards) and a Reward Barclaycard (paid in full each month).Paid off the last of my unsecured debts in 2016. Then saved up and bought a property. Current aim is to pay off my mortgage as early as possible. Currently over paying every month. Mortgage due to be paid off in 2036 hoping to get it paid off much earlier. Set up my own bespoke spreadsheet to manage my money.0
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Thank you for your replies
March 2017 - Debt Free- cleared £21,750
On a mission to repair my credit rating & own my own home0
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