Fresh start.... Where to begin?

Lee2007

Hi guys,

I went bankrupt in 2007 and was subjected to a BRU/BRO that expired in Oct 2012.

I have just checked my credit file with Experian and it is good, which was a surprise! All my previous defaults and the bankruptcy itself no longer appears on my credit file (is this correct as I though it took 6 years to disappear...?)

My question is how do I go about rebuilding a credit file to enable me to get a mortgage in a couple of years?

I've applied for a Vanquis card (gulp) but have heard horror stories about these and am unsure what the best step would be for me?

I don't need a credit card, so it would only be used for about £100 a month and paid off in full. Just don't want to go applying for things and get refused to neagatively affect my file.

Thanks in advance

droiderm

I would expect your bankruptcy to appear on your credit file.
Did you use your old addresses when getting your credit file?
Did you check callcredit (noddle) and equifax?
re: a mortgage, be prepared that you probably have to save a significant deposit

arcon5

Can I asked why you got a 5 year BRU/BRO ?

Lee2007

droiderm wrote: »

I would expect your bankruptcy to appear on your credit file.
Did you use your old addresses when getting your credit file?
Did you check callcredit (noddle) and equifax?
re: a mortgage, be prepared that you probably have to save a significant deposit

All my previous addresses are on 'Linked Addresses' section on the credit report.
Noddle still shows it as active but 'expired Oct 2012'. How do I get it shown as inactive?
Equifax shows it as satisfied in May 2008.
Yeah I gather I'd need at minimum 25% deposit, but should I be able to get one without a ridiculous interest rate?

arcon5 wrote: »

Can I asked why you got a 5 year BRU/BRO ?

The official reciever tied me in knots when I went for my interview. I paid £750 on a credit card for a holiday with all intentions of paying everything off when I sold my house. Unfortunately the house sold for £30000 less than it was valued (we needed a quick sale) so I didn't have as much funds as I thought, got my hours cut at the job I had and had £40k of debt. She said I'd borrowed with no intention of paying back and slapped a 5 year BRU/BRO on me. Thought it was much less hassle and such a relief to have the debt collectors off my case I accepted.

mattannar

Lee2007 wrote: »

Hi guys,

I went bankrupt in 2007 and was subjected to a BRU/BRO that expired in Oct 2012.

I have just checked my credit file with Experian and it is good, which was a surprise! All my previous defaults and the bankruptcy itself no longer appears on my credit file (is this correct as I though it took 6 years to disappear...?)

My question is how do I go about rebuilding a credit file to enable me to get a mortgage in a couple of years?

I've applied for a Vanquis card (gulp) but have heard horror stories about these and am unsure what the best step would be for me?

I don't need a credit card, so it would only be used for about £100 a month and paid off in full. Just don't want to go applying for things and get refused to neagatively affect my file.

Thanks in advance

My wife and I have had no problems, most on here have one. So what have you heard, maybe we can put your mind at rest

Lee2007

mattannar wrote: »

My wife and I have had no problems, most on here have one. So what have you heard, maybe we can put your mind at rest

I think it was just the usual naysayers, the people that get them and run massive debt and wonder why they have problems.

Just heard that their customer service was really bad, but as I plan on only using it minimally and paying off in full each month, I really can't see a problem.

Lee2007

Another quick question....?

Am I right in thinking that my slate will be 'wiped clean' after 6 years from bankruptcy start date and I will effectively start again with 'all the bad things' taken off it?

If so I only have about 4 weeks to wait....:beer:

mattannar

Lee2007 wrote: »

I think it was just the usual naysayers, the people that get them and run massive debt and wonder why they have problems.

Just heard that their customer service was really bad, but as I plan on only using it minimally and paying off in full each month, I really can't see a problem.

I have found the customer service first rate whenever I have had to use them. If you use them as you suggest no problem, just make sure if you are going to pay it off, make sure you clear all of it. Because they have a weird system with interest.