How to improve my credit rating after a DRO

Nathsgirl

I have currently got a DRO debt releif order, which is due to end next month.
After that my debts will be written off. I am interested to know what state my credit rating will be in after this and how i can improve it ( not that im wanting anymore debt or credit) but i just want to start afresh and get my rating back on the up.:p

bottleofred

Hi Nathsgirl,

A debt relief order is not as bad as bankruptcy and is normally for debts of less than 15k. It will have an effect on your credit rating, as the information stays on your credit file for 6 years, but does not have the same stigma attached to it as Bankruptcy in the eyes of creditors. It's very hard to say how easy or difficult it will be to get credit, but the more time involved before you apply for any credit in the future the better. Hopefully someone with more knowledge than me will be able to advise further on the effect on your credit rating