After the 6 years?

HungryGiraffe

I really wish I’d found this board when I was going through my BR 4 years ago as the non-judgemental support and help people are given is fantastic, but sadly I didn’t and I ‘suffered’ those dark shameful days on my own...


....but I did discover you all 18 months ago, and in that time based on the advice I’ve found here, I’ve cleaned up my credit files, opened a Co-op cashminder, got a Vanquis CC and more recently a Capital One to re- build my credit rating (don’t pay them a penny interest) so at this stage I think I’ve done all I can on my journey to losing my ‘financial leper’ status. If it wasn’t for all the help from this board I wouldn’t even have a debit card so thank you!


I’m curious though what happens when I reach that magical 6 yr point (or in my case 6 yrs and 35 days as Natwest refuse to alter the date of the default!). Will I be able to access services that are currently out of my reach? Not thinking really of credit cards/mortgages but more the reward type bank accounts like First Direct for instance (subject to meeting the account requirements obviously) or will the BR still haunt me?


And finally a note to those just starting out on their journeys, it may not seem like it at the moment, but 'it' does get better!:)

HG

Ineedaname

First Direct are notoriously strict and may ask if you have ever been BR when you apply. I'd go for a standard current/cheque account with HSBC first as First Direct are part of that group. Then in a year or two apply to FD with a good 'connected' record behind you.

Generally BR only haunts insurance premiums post 6 years but shopping around can get round that. However, you do still have to declare BR if ever asked, right up until you die.

dojoman

Ineedaname wrote: »

Generally BR only haunts insurance premiums post 6 years but shopping around can get round that. However, you do still have to declare BR if ever asked, right up until you die.

What about mortgages, loans etc where they ask have you ever been BR.
And to be honest I have found no difficulties with insurances even whilst BR.

Ineedaname

My second sentence covers your first Dojoman.

Only some insurance companies appear to increase premiums for ex BRs, hence the shopping around comment. Obviously you've not had to do that which is great.