debt

dannibear2008

Hi Guys,
Hope everyone is well. I am in need of advice and hope someone out there can help me.
I left home at the age of 16 and by the time i got to 18 ended up with a lot of debt due to the having new household items and credit cards catalogues etc. Due to not having the money to start up my flat. What a massive mistake at the time i didn't know what the hell i was doing i was young and wanted a nice home. Having no help from anyone the debts mounted up quickly. The interests and the letter charges etc these debt companies added on i ended up with debt of £10,500.
I was in a complete mess and i didn't have enough money for food even though i was working. After years of struggling and paying back miminum amounts each month to each company i owed money to i decided i would go ahead and do my nurse training.I didn't realise how it would affect me and seem to make my financial situation worse as i was only receiving a bursary, half or that was rent. So in the end i went to the CAB they recommended i paid each company £1.00 a month in which i did for a least a year. Things didn't improve still received the damanding letters through the post, debt collectors at the door, telephone calls every minute of everyday even though i paid the miminium agreed payment each month. I got quite depressed and was thinking about discontinuing my nurse training.

In March 2009 my sister told me about the debt relief order that was coming into place in April 2009, I spoke to the national debtline who were fantastic and i decided to go ahead with the DRO. I met a fantastic new partner a few months prior, i did keep my debt hided from him for a while i was ashamed and embarrassed but eventually broke down in front of him. He didn't realise and just assumed i never had anything in or didn't go out due to being a student. I explained to him about the possible chance of having a DRO and he told me to go for it and gave me the money to pay for the DRO fee. Just before starting the DRO i lost my council flat due to the rent arrears and ended up at county court, i never told anyone this until now. I ended up with £500 rent arrears and the council did what they had to do. I ended up moving in with my partner, it was his idea and luckily he mentioned it during the fact i was nearly homeless. He still doesn't know today i had lost my flat and its awful keeping it from him i still feel sick thinking about it.

Its now been over a year and finally my DRO was complete in June 2010 and my debts have been written off. I am gutted i put myself through this yes it was my fault but i can say i was young and foolish but i have learnt the hard way. I know many of you will think i took the easy way out but i didn't trust me. I did pay some of my debts off so please don't think i got off likely.


For everyone out there i understand what you are all going through but please don't put it off like i did luckily for me i gave myself a good kick up the backside and with my sisters advice i rang the national debtline. It was a shaky ground because i could have been refused a DRO but with the national debtlines help i got one and i can sleep again.

Now i will have the DRO on my credit for 6 years i will be qualified nurse next year. The main reason for my writing this is does anyone know if i will beable to get credit ever again or at least rebuild my credit. I would love to beable to get a mortgage one day but i think i may have recked my chances of beable to get anything like this again. Hope i haven't bored anyone silly!

Waspeze

I got a credit card three months after discharge from bankruptcy.. high interest but as long as it's paid off each month the ticks keep mounting up

As for a mortgage, unlikely for a few years and even then you will probably start off with a higher than normal interest rate and may have to have a large deposit.

So to answer your question:

The main reason for my writing this is does anyone know if i will beable to get credit ever again or at least rebuild my credit

Yes