Mortgage / Debt Advice, for poor credit rating.

Jimsan

Hi all,

Basically my position has changed largely, and I am in worse debt than I was then.

My current position:

Age: 24
Job: Purchasing Administrator
Income: £1273 pcm.

Outgoings (pcm):

Car HP (neccessary): £226
Rent: £250 (includes all bills and food)
Debt Payments (DMP with Lawrence Charlton) : £250
Phone Bill: £35
Car Insurance: £50
Dental Insurance £10
TV Insurance £8 for next 10 months
Credit Expert: £7
Football Monthly (playing) £17.50
Fuel (Mainly Work) £200
Cash Plus card with creditbuilder (4.95)

Remaining: £214.55

I havent posted for a while and things got worse but now Im on the mend thanks to the DMP I have with Lawrence Charlton (I havent the time or the sanity to manage the DMP myself). I am looking to make some cuts in that SOA since my car insurance and mobile phone bills are up for renewal soon.

On the advice of MSE i joined Credit expert and as I believed I have two defaults and one late mark against my file which I am concerned about.

I have made notes that these accounts are being managed by Lawrence Charlton but am not sure what else I can do?

Basically I rent at the moment with my gf at her mothers house and am concerned about what I need to do to improve my credit file ready to apply for a mortgage.

I am aware that the defaults will stay on my file for 6 years but does anyone have any advice about how I should approach the matter, apologies for being so naive......

Thanks

Jim

VIGILANT22

At the moment no lender will consider you and I'm sure you understand this. Also you don't need the stress, work at reducing your debts and good luck.

Jimsan

So moving forward apart from continuing to reduce my debt, the best plan is to simply wait out the following 6 years?

getmore4less

How much are Laurence Chalton charging?
You can get free DMP so you pay your debts quicker.

These two seem surplus
Why pay TV insurance?
Credit expert?

NO car tax or maintanence?

getmore4less

Jimsan wrote: »

So moving forward apart from continuing to reduce my debt, the best plan is to simply wait out the following 6 years?

6 years from the end of the DMP before everything drops off.