Starting Again from fresh

THE_MIDDLEMAN

Hi,

I have now paid my last payment in 36 months to my Scottish Trust Deed. I now beleive that I am fully debt free.:T :T

I am faced with the fact that I still have an exceptionally poor credit rating.:mad:

My point of the post is not too gain plaudits for becoming debt free - as I was in debt due to ignorance and "hiding my head in the sand". I now want to start again.:j

My only goal is to be able to stand side by side with my fiance in 18 months or so's time and apply for a mortgage so I can provide with her and create a home for us to start a family.:p

I pay Council Tax, Mobile Phone to O2. I cannot get a current account Alliance & Leicester......I have not applied for any credit cards as I dont beleive I will get them.

I wanted some advice on the best way to imrpove my credit rating over the next year. I know I cant get a quick fix but wondered if anyone had some sound advice.

Thanks

Psykicpup

Hi Middleman - we seem to have very similar stories see http://forums.moneysavingexpert.com/showthread.html?t=282225
may be we should bash heads on this one!
Any miracle cures come to light I will let you know lol
GOOD LUCK

rog2

You may not be able to get a full current account, but you should be able to get a basic account with most banks - Co-op seem to be favourite though, and you will build up your credit rating over time and should be able to upgrade your account.
The details of your trust deed, and any defaults will remain on the the credit reference agencies for 6 years (England - may be different in Scotland).
Whilst this could well be taken account of in any mortgage application, it is not necessarily a reason for automatic refusal, as building societies will take the whole picture into account. Best idea could be to start a savings account with a building society as that will certainly work in your favour.
Good luck

duncans-mum_2

THE_MIDDLEMAN wrote:

My point of the post is not too gain plaudits for becoming debt free - as I was in debt due to ignorance and "hiding my head in the sand". I now want to start again.:j

I know the post was not pointed in this direction, and unfortunatl yI am unable to offer the actual advice requested. But.. I did want to say a very well done to you for getting to this stage, and regardless of how you got into debt in the first place, the fact that you faced up to it, and resolved the matter, I feel is to be congratulated.

I wish you all the best in your fresh start for you and your fiancee.

SunderlandBlackCat

Barclaycard are pitching a new card for people who need to build up their credit rating but I can't remember what its called. It was pitched at me when I went into my branch yesterday but it will probably be on their website.

THE_MIDDLEMAN

cheers all keep you posted