The Sub Prime Credit Thread - Part V

sephrenia

Gillianh2 wrote: »

Oh I have had that the huge intake of breath as they try not to pee themselves laughing at me having the gall to apply.:rotfl::rotfl:

Congratulations as I am still Persona Non Grata with them.............ah well at least I do my bit for staff morale giving them a good laugh each year when I apply:rotfl::rotfl::rotfl:

I know how you feel! I'd been repairing my credit file for a couple of years and it still looks pretty awful to be honest with a couple of defaults and a CCJ on there (looong story behind that) and I'd recently had a doorstep loan as well which I've paid off in the set installments and always on time!

Then a couple of weeks ago, 3 mobile convinced me to take out a 30pm contract with them so I figured I was making progress. I don't like the phone though so I went into Carphone Warehouse and the idiot sales guy searched like 20 times on my file! All I wanted was a new handset, not another contract! Apparently as I was on their system from a previous contract with themselves, it was easy enough to do.

At that point I figured I couldn't be any more screwed on my file so I applied to capital one as a laugh and they said yes! I kept looking back at the page to make sure I was reading it right and that it wasn't a joke and then opened up another tab on my browser so I could post in this thread to double check!

Either way, they've obviously stopped laughing and I hope they stop sniggering at you!

:beer:

missymugwump

Hi
I was lucky enough to get a capital one card accepted ! very shocked but pleased
How long from being told through the online process that you have been accepted,should you expect a card or pin ?

Is there a standard starting limit ?
And can you do balance transers on it ?


Thank you

sephrenia

missymugwump wrote: »

Hi
I was lucky enough to get a capital one card accepted ! very shocked but pleased
How long from being told through the online process that you have been accepted,should you expect a card or pin ?

Is there a standard starting limit ?
And can you do balance transers on it ?


Thank you

I applied and was accepted on wednesday night and got my pin this morning. I'll let you know how long it takes for the card to arrive. I think the starting limit is £100

Hope that helps and congratulations on being accepted!

missymugwump

Thank you mine was accepted on 26th June
Trying to rebuild my credit I have a vanquis, littlewoods acc, simply Be acc,Empire stores acc and a laredoute that with a full bank account from barclays and a contract phone I hope will help
My bankruptcy falls off in 2012 so until then I just plod on :-(

plumber2009

never-in-doubt wrote: »

Ok, well prior to going BR come see me over here and i'll try and get them deemed unenforceable for you: Unenforceability & Template Letters IV

You have nothing to lose, plus if you're already defaulted; after 6yrs the entries will be gone forever without the stigma of b/r hanging over you......

Thanks for the info mate.

I will have a look over the info you posted and hopefully will be of some help.

Q. Is it worth considering just waiting 3 or 6 yrs for the 12 defaults to drop off as an alternative to bankruptsy?

I was thinking of this today as i remeber a few months back about the new European Credit Directive. It mentioned account data remaining on Credit File for only 3 yrs and i assume bankruptsy data will still remain for the full 6 years.

never-in-doubt

plumber2009 wrote: »

Thanks for the info mate.

I will have a look over the info you posted and hopefully will be of some help.

Q. Is it worth considering just waiting 3 or 6 yrs for the 12 defaults to drop off as an alternative to bankruptsy?

I was thinking of this today as i remeber a few months back about the new European Credit Directive. It mentioned account data remaining on Credit File for only 3 yrs and i assume bankruptsy data will still remain for the full 6 years.

I was the one that posted on the last thread all about the new directive, but defaults are deleted after 6yrs from date of issue, whereas with b/r it will ask if you've "ever" been made bankrupt and to that you have to legally say yes - that is forever, not just 6yrs - i.e. the stigma I mentioned.

But all in all b/r is the last resort.

noah271007

NID, the deadline to implement the CCD has now passed (June 2010). An updates on CCD NID?

missymugwump

But if it does not show on someones credit file after 6 years they are hardly likely to declare it surely ?
It may result in them paying higher interest etc on financial products,surely 6 years is painful enough

never-in-doubt

noah271007 wrote: »

NID, the deadline to implement the CCD has now passed (June 2010). An updates on CCD NID?

I'll check it out later mate.... it won't be finalised yet, i'm subbed to get OFt newsletters so will know for sure when it comes into effect....

But suffice to say as things stand it remains at 6yrs. However rumour has it that isn't to stay.....

never-in-doubt

missymugwump wrote: »

But if it does not show on someones credit file after 6 years they are hardly likely to declare it surely ?
It may result in them paying higher interest etc on financial products,surely 6 years is painful enough

No after 6yrs it is then statute barred meaning it is legally wirtten off so you sit out the 6 years.

With b/r the thing is, if you do not declare it then it is in essence illegal and although you may be b/r free the entry is always there on trustregistry/archive.

It affects certain jobs for instance - not just credit products. It affects you moving to places like australia/america etc

The 6yrs is painful enough comment is exactly what the ECCD is about, basically alignment with europe as they limit it to 3yrs, and feel that is enough - there is talk of things remaining for 1yr and adverse being 3yrs - at the moment the UK stores searches for 1yr and all else for at least 6yrs.