Can I ever have a good credit?

woofy85

When i was a student they gave me a credit card and for like a few years lived by paying off the interest this was 2004 and then in jan 2008 I had an overdraft of £1700, then become homeless, since have struggled to make ends meet with part time jobs, but still can't afford to pay off any of my debts.

Is there any chance in the future I could have good credit? Obviously being older now I would never get myself into the situations of my youth. Any advice is appreciated

I just order a credit report with expedia and await the grim reading in a few days.

rising_from_the_ashes

The credit report will probably show a few defaults if you've not kept to the original t&cs but the good news is that these will fall off 6 years from the date they were issued.

Also, once you've not acknowledged the debts for 6 years, they become statue barred (which means you can't be chased for them anymore) so if you've not made any payments / acknowledgements of then since 2008, then it may be that this is the best route to take (not advocating anyone walking away from the debts - it's up to each individual person).

Please take some comfort from knowing you're not alone - when I 1st left home, the credit card / loan providers were literally throwing money at you ..... and I took all I was offered - I just didn't appreciate the value of money at all and didn't budget so everything went on the cards which just grew and grew.... most of us have been there and you will get out the other side.