unsure what happens now !!

zeroboy

Good morning , eveneing, night

After a challenging 5 years the light at the end of the tunnel is now in reach, we only have 1 more payment to make (1st march) . :T:T

Anyway can somebody please tell me what happens next and what steps i need to take to start rebuilding a credit rating,

i currently have a visa electron card on my halifax bank account but would like to switch to a normal bank card am i allowed to do this ?

:T:A


We have learnt so much during the last 5 years,but now are ready to take the first nervious steps again,

FoggyBrain_2

First of all ... Well Done for getting to this point.

You will probably have a final review with your IP, who will then tie up all matters with your creditors and issue you with a certificate of completion. When you have this you will need to check your credit records and ensure that all of your creditors have dated the defaults back to the acceptance date of the IVA. In a years time they will then drop off your credit file and you will have a clean record.

In the meantime you can start adding green ticks to your record. The Halifax bank account will appear there as running well, any mobile phone contracts, and you could also apply for one of the "bad credit / credit builder" cards from the likes of Vanquis. The interset rate is frightening, but the object is to use it for, say, only petrol, and to pay it off in full every time. So you won't be incurring any interest, but you will be getting green ticks for repaying on time, every time.

Foxy-Stoat_3

What he said ! ^^^^^

I wouldnt apply for ANY another credit until your credit file is has been cleared up as if you have lots of searches carried out, it can effect you for a long time afterwards.

My credit file has 6+ searches at the moment and its proved to be a mare.

Well done for nearly finishing!

kns_2

Well the best bet would be not to touch credit again I wont:D

Foxy-Stoat_3

A credit cards with a zero balance IS your friend!