Tell me about the long term effects of BR pls

dojoman

In_a_Mess wrote: »

We are only just BR so have yet to see the long term effects of it, but we didn't have any choice but to go BR, so the long term effects were for us not really an issue tbh.

I have kept my mobile contract going, and we have kept sky going as well, we have opened an internet savings account with Yorkshire Bank and I will be putting the amount we have on our soa's for insurance so we have enough to pay up front come renewal, as I don't want to pay monthly and pay their hefty % on top.

I will be getting a pre-paid credit card, but not so much for rebuilding credit, more for being able to buy things on the internet and have the insurance it gives you.

Have pretty much done the same as IAM, we had no other option to go BR and up to now have not had too many difficulties, although I know we will have some along the way. Have opened a YBS internet savers account and have just received my Cashplus prepaid card (although it has not got anything on it yet) Any problems we meet we will try and work round, and with this great forum I am hopeful that we will be able to do so. I feel so much more relaxed now and starting to look to future for the first time in ages.

tech2_2

We are in the early stages of BR and need to renew buildings insurance soon so will let you know. We only have one phone on contract and kept that but also been allowed by the OR to keep the HP on our car loan!! So hopefully this will go a long way to rebuilding our credit history from BR as well as later after discharge.

I must say that the weight being lifted for doint the BR will far out weigh the possibilties of haveing to shop around or save for things in the future as I never want to see a credit card as long as I live, Yes it does restrict but we have some very good friends who know about the BR and they would be only to pleased to pay for something on there CC if thats the only way to get it and we would give them the cash.

I must confessed it has reminded me of when I had my first mortgage all those years ago young and free and NO CREDIT CARDS the feeling is FANTASTICO'

Tech2