Credit Ratings!

steve-ouk84

Hello! This is my first post on here, although i have been using these forums for many months previously.

I am 24 and foolishly when i was 17/18 I got a large loan and credit cards and lived off them without paying them back and subsequently got into debt!! Stupid yes I know, Ive had all the tellings off I can take over the years!!
Luckily i went to Citizens Advise and they told me about PayPlan which are a government run company to help pay off minimum ammounts to each company. On a recent check, I am still in £8300 in debt (please dont shout at me people!). The problem is.... I am paying for it worse now but not even being allowed a bank account!!! My credit rating is so poor because of my stupid childhood. I have a couple of defaults on my rating I think.
My question really is, how many years will I have to wait in order for my credit rating to be wiped clean again? I am now at a much more mature state where I would like/need a loan for certian things and I am working hard and responsible enough to pay them off.
Please help!
Many thanks
Steveo

LilacPixie

everything stays on record for 6 years from when the account was settled/defaulted.

In the mean time open a basic bank account. make sure you are registered on the voters roll at your address and make sure every payment you make is on time.

You might want to get a copy of your credit report to find out the extent of the problem. Please also bare in mind that exxessive credit seqrches also count against you so try and not apply for anything for 6-12 months.

savemoney

OP asks for help and never comes back. Why bother asking?