RE debt help

lee2013

i am in such a trap i dont know where to begin...
is there such thing as a 'credit repair system'?? it all started 8 years ago i have lived in about 12 houses/flats in the last 8 years, moving all the time because i got into debt, you name it mobile phones, loans, credit cards, catalogues, and not just one of each there was 7 catalogues 9 loan companies, 5 mobile phone contracts 3 credit card accounts (not all at once this was spread over the years) all of which went into debt collection agencies but with moving alot nobody found me then my last place i had to get a DRO, (debt relief order) which cost £90 and removed my debts but all still shows on credit files, im totally ruined for life i have not a clue who i owe money to which companies which debt agencies as they change all the time it will take years to search and mend my file is ruined what can i do?????

matttye

Any defaults/CCJ's (and your DRO) will drop off your credit reports after six years, so it's just a case of waiting..

By the sounds of it you're going to really struggle to get any form of credit until some of the adverse information drops off. You could get a prepaid credit card such as Cashplus Creditbuilder:

http://www.mycashplus.co.uk/cashplus-extras/creditbuilder/default.aspx

You can't be declined for this. You pay £5 per month and it shows up on your credit report as repaid credit. If you get it just make sure you do pay every month without fail or you'll be in an even worse position.

Realistically though you're just going to have to wait I think.

What you should do, however, is get your credit reports from the three agencies and make sure that the accounts have had defaults/CCJ's registered and aren't still being updated with late payment markers.

dancingfairy

Defaults should drop off after 6 years I think?
Not sure about the DRO whether that would show seperately or not?

However there are plenty of things you can do to improve your credit score as well:
1) get registered for the electoral role.
2) try not to move too much if possible (easier said than done if in rented though I know).
3) get a mobile and pay it religiously every month. or get a credit builder credit card and again pay it off religiously every month (it will have an extremly high apr though).
4) Hopefully someone with more knowlege will be able to tell you which defaults on your file are correct and which should be challenged.

Keep positive. If bankrupts can slowly rebuild their files and go on to get mortgages etc then I'm sure you can.
Best of Luck
df

jessie4109

have you got a copy of your credit report to see what data is actually held about you?

dancingfairy

I think ruined for life is probably over exagerating it somewhat.
Frankly people survive without credit and have done for a long time.
It shouldn't exactly impact a huge amount on your day to day life either, unless you are planning to buy a car or house then you should be able to live without a near-perfect credit record.
Life will continue. Put it in perspctive. I understand you want it to improve, and it will over time but don't let it takeover you life.
df
Edit: there does seem to be sometimes a focus on here on having the 'perfect credit score' as being the answer to life itself and people seem to become needlessly wrapped up in what the numbers all mean etc etc.