What is classed as income?

G8311374

Hi,

I am in the process of repairing my credit following a DRO in 2009 and am unable currently to obtain any sort of credit card even the really exorbiant interest rate ones. I am on the electoral roll, my credit file is up to date, etc. I have managed to get credit with 2 catalogue companies which I purchase from and clear the accounts to zero every month. I also have the prepaid MasterCard that is supposed to repair your credit. Anyway...my question is being ex forces I am in receipt of a monthly service pension and then a sizeable compensation payment which are combined into one payment. Do creditors class this as income, as I have heard various rumours that they don't for mortgages even though its guaranteed for life and index linked etc? I am currently unable to work due to my health so my forces income makes up 3/4 of my income so obviously if I'm applying for credit and its not included then no wonder why!

Thanks

bris

The DRO on your file wont drop off untill 2015 so this is the main reason that your credit fill is so bad.

Some will class you forces pension as income and some wont, look about for a bank or building society that will. Phone them all up and ask, theres not really that many, try the main ones first.

Unfortuately though your credit file will stop you getting a mortgage in the mean time, so don't get your hopes up for another 2 years.