The Sub Prime Credit Thread - Part V

onefortheroad_2

Bosie wrote: »

Sorry to be dim:j but what does PPR'd mean?

they can no longer post

http://forums.moneysavingexpert.com/showpost.html?p=36348557&postcount=1761

plumber2009

izools wrote: »

Virgin Mobile were the only network to approve me for a mobile contract as an undischarged bankrupt.

All the others told me to jog right on

Thanks for the info mate. I will give them a try as i have a contract with Virgin Media.

Hopefully they will accept me and not disconnect my existing services after the credit check.:D

cdlmmll

Hi Plumber 2009

First you need to wait until you are discharged by the OR.
DON'T attempt to rebuild until this point, you will be breaking the law.

When you have been discharged, write to all your creditors who were included in your bankruptcy with a copy of your discharge. They will have to mark your files as partially satisfied or settled as of the date of you being declared bankrupt.

Keep anylines of credit you have been allowed to keep totally upto date, ie your Virgin Media.

Try at this time for a Vanquis card or Capital One etc. and a JD Williams account.

TSB have been known to upgrade after discharge, but this is by no means certain.

I waited five years after my bankruptcy to clear my files, but within 2 months of doing so started picking up the odd small account, all low limits and high APRs but it can be done.

The clear up at discharge is the most posative thing you will be able to do when it comes to rebuilding.

onefortheroad_2

where is everyone ????

izools

cdlmmll wrote: »

Hi Plumber 2009

First you need to wait until you are discharged by the OR.
D

Taking out a mobile phone contract undischarged is not a breach of bankruptcy or illegal.

Mobile Phone Contracts are not credit or credit agreements. They are airtime agreements, exempt from the CCA 1974 and exempt from BR regulations

marilyna

Just had a look at my credit report, and there are searches on there that are more than a year old.

I thought anything over a year was removed, is that right?

onefortheroad_2

marilyna wrote: »

Just had a look at my credit report, and there are searches on there that are more than a year old.

I thought anything over a year was removed, is that right?

One year for credit application searches and two years for debt collection searches

marilyna

Thanks, I didn't realise that.

never-in-doubt

onefortheroad wrote: »

One year for credit application searches and two years for debt collection searches

Also, CallCredit retain all searches for 2yrs but lenders can only look back over 12 months... now you know why nobody trusts their system cos it is like prehistoric.... what I applied for 23 months ago has absolutely no relevance to something I apply for today! Even retaining for 12 mth is too long - 6 is fine IMO and the rest of Europs - as they retain data for 6mths, why? Cos its accurate and a true reflection of the way you are. A lot can happen in 6 months, moreso in 12 months :eek:

marilyna

NID,

On my Callcredit, I noticed that whenever I put in an application with HSBC, they searched me twice on the same day. One of the searches is an administration review. What is an administration review, and why the need for two searches on the same day? I noticed some of the HSBC searches are more than a year old, however they seem to be the only people who search Callcredit.