Released bankrupt trying to buy shares

mcgowana

I was declared bankrupt in Feb 2008 and released in Dec 2008 but still find it virtually impossible to do anything that requires a credit cheque. I am wiser with my money now and would like to buy a small amount of shares each month but am struggling to find someone to take me on because of my credit rating. Does anyone have any advice?

p.s declaring myself bankrupt was a massive mistake and the advice I got was poor. In that situation again I would have found ANY way to avoid it.

Loughton_Monkey

mcgowana wrote: »

... to buy a small amount of shares each month but am struggling to find someone to take me on because of my credit rating. Does anyone have any advice?

Not trying to funny, but yes! Stay out of 'small monthly' share dealing, unless you wish to be bankrupt again.

What do you want to do? Put in £100 a month? So if dealing costs are, say £12 per transaction. Then there's stamp duty and the bid/offer spread. Sit back and watch the share go up 29% (only the best will do that for you in a year). Sell, and you will get back... er... £100.

If you wish to 'invest' a regular amount into equities, then you would probably find an ISA far better. The fee structure of funds means that you would get the bulk of growth within the ISA account.

Bullfighter

"would like to buy a small amount of shares each month"
Why don't you just pop into the casino?

Unless you have found a way to front run the front running HFT algorithms.

Jonbvn

OP,

You are running before you can walk.

I would suggest that you consider building up your savings before you consider investments.

If you are set on monthly investment then I would suggest you consider investing in funds through an ISA. H-L is the favourite company on here, since they have the widest range of funds.