Help?

saulhudson

:oApologies if this has been asked before (And I'm sure it will have been) but....just how does a discharged Bankrupt go about improving their credit rating and status?

My partner was sadly declared bankrupt way back in 2008 and has been discharged since December 2010 mostly through no fault of her own, (Ex had gambling problems etc etc).

As we're both looking at going into joint finances she would like to begin clearing her status to avoid any possible issues in the future that may affect us both, (Like mortgage or loan applications). As my own Ex had run up debts of her own I know what a negative effect this could have on my own credit status (Which is excellent) I already have a mortgage, (Tied for the next five years) and am looking at a loan for a car right now so any application that is ok'd for me is before we arrange joint accounts or suchlike so for at least five years i see no need for any financial applications, during this time i'd like to think we've managed to repair her credit history somewhat?

Any advice/help would be grateful, thanks in anticipation.:beer:

Keeping_Positive

One things I've seen people do is open a vanquis credit card they give small limits at high apr for those with poor credit history even discharged bankrupts. Trick is to shop using it but pay in full each month.

chunx

Have a look at the following sticky:

https://forums.moneysavingexpert.com/discussion/677875

First of all, start by ensuring the credit files are cleaned and represent the correct times for default and settled / partially settled.

Once that's done, take a look at your partner obtaining a sim only monthly plan for mobile. Each month it will put a nice tidy tick on her file.

Also look at your partner applying for a Vanquis account. As long as the payments are kept up to date, this will help to build up your partners credit file.

There's lots of good people on here who will give you more advice too. It's a real font of knowledge.

Fingers crossed and hope it all goes well for you both.

tigerfeet2006

Make sure that you don't have any joint financial products until the BR is off the credit file.

Try for a catalogue.Order the odd item and pay for it as soon as you get the invoice.