Rebuilding credit

duggan1

Couple of questions if anyone has any answers.... (if this is inappropriate for this board the I do apologise)

Firstly, I'm now managing to clear some debt that had been hanging around for a while, and will have a sizable chunk of money left over (Inheritance). I plan to use this as a deposit on a house as and when, but in the short term I need to get a handle on just how 'toxic' a customer I may appear to be. How long will it normally take a settled debt to appear as such on the three credit agency reports? I want to get these to study them but I'd like to wait until debts are marked as settled if possible.

Secondly, I could clearly do with some positive news on these reports so I believe I should try and get any kind of credit card (bearing in mind that the debt lessons have been well and truly learnt) to make some purchases on and pay off in full after the bill comes in. Are there any recommended for someone with bad credit, or more to the point are there any pitfalls I should beware of?

Thanks in advance.

CLAPTON

creidt reports only cost £2 per agency (be sure you get the statutory report and don't pay for a 'credit score') so best get them now so your know the damage

in takes a month or so for reports to be updated

however knowing nothing of your credit record ..CCJs, IVA, defaults etc etc difficult to say much more