Will I ever get credit post-bankruptcy?

mr_h_4

Hello,

I was declared bankrupt in August 2005 and discharged in February 2006. Since then I've had an Abbey/Santander basic account, and have a monthly T-Mobile phone contract which I managed to keep from before the bankruptcy.

I've cleaned up my credit file and now have just two (satisfied) defaults on file. My Experian credit score is 744 (Fair), I have no CCJs, IVAs, Bankruptcies on file, and no defaults on payments. I would like to build up my credit score to Excellent so I can get a joint mortgage with my wife.

Seeing that the bankruptcy had dropped off my credit file, I applied to Vanquis for a credit card 2 weeks ago and was declined. I also contacted Santander to apply for a full current account, but they told me not to even bother applying if I was declared bankrupt in 2005 as the application would be turned down.

I've asked Vanquis to give me details of why my application was declined, but I haven't had a response yet. I'm wary of applying for other credit cards as I don't want to further damage my credit rating.

I know some people have been accepted by Vanquis just a year or two after bankruptcy, so I'm wondering what is going on. One thing that has occurred to me is the address I lived at for the last 18 months is linked to previous tenants with bad credit. I regulary receive bailiffs letters and claims for various people to this address, and I try to contact the lender to let them know those people no longer live here, but I still get letters.

Could it be the other people linked to this address that are stopping me getting credit?

This is getting frustrating and I'm beginning to wonder if I'll ever be able to get credit to improve my credit rating. Thanks for any help you can offer!

Ineedaname

The only reason the address is likely to have an effect on your credit rating is if you have any financial link with anyone else who used that address. It's worth applying for your Statutory credit reports just to check what associations may or may not have (accidentally) appeared as it can sometimes happen.

Otherwise, I'm sure others will be along shortly to suggest ways you can rebuild your credit rating.

mr_h_4

Thanks for the advice. I have no financial links to anyone else at the address, and the only person I'm linked to one my credit report is my wife, who has an excellent credit rating.

I cleaned up my credit file several years ago and wrote to all the lenders, but I've just noticed that of the two defaults that remain on my file, at least one has the wrong dates on it:

ENTRY NUMBER: C4

Company name: MAX RECOVERY Account type: Credit card / Store card Started: 21/05/1998 Default Balance: £3,798 Current Balance: Satisfied

Defaulted On: 25/02/2006 File Updated for the Period to: 16/08/2009 Status history: 8


&

ENTRY NUMBER: C5

Company name: MAX RECOVERY Account type: Credit card / Store card Started: 16/09/2004 Default Balance: £1,425 Current Balance: Satisfied

Defaulted On: 27/10/2005 File Updated for the Period to: 16/08/2009 Status history: 8


The first one, entry C4, has my discharge date as opposed to bankruptcy date as the default date. It also has this 'file updated to the period to' date of 2009. Does this date affect my credit rating? Or is it simply the date when i last asked them to update my records?

Enty C5 has the correct default date but again has this 'file updated to the period to' date.

dojoman

Were Vanquis one of your creditors? I went BR in 2009, cleaned my credit files up earlier this year and have had a Vanquis CC for 5 months, they have just increased my limit as well. I also applied for the Cap1 CC at the same time but was declined, but they were one of my creditors. Sorry:( but not really sure why you are being declined.

mr_h_4

dojoman wrote: »

Were Vanquis one of your creditors? I went BR in 2009, cleaned my credit files up earlier this year and have had a Vanquis CC for 5 months, they have just increased my limit as well. I also applied for the Cap1 CC at the same time but was declined, but they were one of my creditors. Sorry:( but not really sure why you are being declined.

No, Vanquis weren't one of my creditors. Capital One were, which is the reason I didn't apply for their equivalent of the Vanquis card.

mr_h_4

I'm writing to the Data Control Officer for Max Recovery to get the entry C4 amended, and possibly C5 if it turns out that the 2009 'updated' entry is also a problem.

I'm hoping this fixes the problem and Vanquis or similar accept me in 6 months.

mr_h_4

I've just checked Experian again, and it seems the 'updated' date is not a problem, and merely indicates when I last contacted them to update my files. So, it is just entry C4 that is a problem, and possibly what is standing in the way of me getting credit.

fermi

C4 definitely needs changing re the default date.

C5, you can ask. But it will probably be off your report before they action any change.

Max Recovery are normally helpful in correcting things, so hopefully very soon you should have a report clear of adverse info.

mr_h_4

So, am I correct in saying the issue of getting sent bailiffs letters etc. for people who used to live at my address won't affect my ability to get credit?

philnicandamy

mr_h wrote: »

So, am I correct in saying the issue of getting sent bailiffs letters etc. for people who used to live at my address won't affect my ability to get credit?

Correct....

mr_h_4

Great - thanks for the advice