Advice needed

southernscouser

ash1 wrote:

My ISA only started last year so only has £90 in it. Do you think i'd be better just paying it of my credit card.

Yeah, put the £30 a month towards your debt. That way you will pay it off quicker and pay less in interest!

Peppa_Pig_5

Hi ash1 welcome

How long will I have a poor credit rating for?
When will I be able to approach 'high street lenders' again?
What are my chances of getting a mortgage?
Does anyone know of any credit cards I could get a 0% balance transfer on, that accept people with poor credit?
When will a bank give me a noramal current account?

I am a newbie here too, but wil try to help as much as I can. I had a default 6 years ago, and now thankfully it is off my credit report. What year did you default on the loan? I thought it was 6 years from when you paid off the default, but it turns out it is 6 years from the date you default. So you may find it might not be on your credit report anymore. If you go to https://www.equifax.co.uk and sign up for the 30 day free trial, you can find out a lot of info on your credit history. But remember to cancel before the free trial is up, or you will have to pay the full sum, which is about £60. It has been a great help for me.

Regarding mortgages, I applied for an Abbey mortgage about 4 years after defaulting and I was accepted, so there are high street mortgage lenders that can help.

0% credit cards are harder to get hold of if you have a default on your credit report. But again, check it out. I have just been accepted by Mint for a 0% credit card, but my default has gone now. So not sure where you would stand on this.

Hope this helps anyway.