Bankruptcy dropping off file in a years time -what can I do to improve credit rating?

piggeh

Hello all,

I declared bankruptcy in March 2004 and it's been a right ol pain last 5 years with little forms of credit aside from a contract mobile! However, in a year's time (March 2010) the bankruptcy will be removed from my file, along with all the defaults and I will be free to re-enter the wonderful world of consumer credit in it's new we-aint-lending-money-to-no-fool guise. I'm hoping things may have improved a little by then and wanted to get myself into a credible position to apply for a mortgage. Obviously, I am saving a deposit in the meanwhile which is great fun.

What I'm wondering is, are there any forms of credit out there that I could possibly get to get some more of those lovely 0s onto my credit record? At the moment, I have a lovely string of 0s next to T-Mobile and that's about it. I'm a bit wary that no credit history is almost as bad as an adverse credit history, so would like to have a couple of forms of credit recorded showing good payments for when my BR drops off.

Does anyone have any advice as to any 'easy' forms to improve your credit rating please? I am already on the electoral roll fwiw.

Thank you and hope you're all coping ok with your own debts or BR!

tigerfeet2006

catalogues

Bet you are really looking forward to the day

Well done on taking the oppurtunity to save for your deposit as well.

*****_19

Hi I was reading a thread the other day on here about a pre paid cretit card from www.mycashplus.co.uk and that has a feature called credit builder which sounds good you could look into that but there are monthly charges for the card or pay you go. Check that out. Hope that helps.

Well done on saving the deposit too!!!:j

Marlowvian

Yeah I got a catalogue with a credit rating as low as 300.

It was an automated phone line and it got to the point where it said if you agree to have a credit account press 1 and I hung up as I thought it would be dishonest of me to take out credit.

Next minute I know a catalogue arrives with a £100 credit limit which soon jumped to £300 then £900 without my consent but I am not complaining.
That'll improve your rating....if you pay for stuff on time ha ha

piggeh

Guess I could buy a tie or a pair of socks or something maybe an option as I dont really 'do' clothes shopping.

positivestep_2

You could try applying for a credit card. I think Vanquis and Capital One do a card for discharged bankrupts. You could spend a small amount and make sure you pay it off every month without fail, cos the interest rate is sky high.