Life after DRO

beebee87

Hi

I know this has been posted before but wanted some more feedback and help.

My DRO finished in Feb of this year and now I want to look at rebuilding my credit rating. I spoke to National Debt but they didn't really seem to know what I was talking about!!

I have seen some people have taken out a pre paid credit card etc. Has anyone else got any advice or know of anything that will help??

I don't want any credit but will be looking at getting a mortgage at some point so I want to start making tracks to rebuild credit.

I have seen a few people mention different companies that offer really high interest credit cards - one thing I am worried about is by applying for anything and then getting refused - will this not put me in a worse position than I am already?!

Any help would be great. I am sure there are others who will benefit from the help too

Thanks

fatbelly

You shouldn't have any trouble getting a sub-prime credit card like Vanquis or similar.

Just make sure you pay it off in full each month.

manzanilla

Your credit rating isnt going to look good for 6 years. I would forget all about it at the moment and get on with your life and save for a deposit. After another 3 or 4 years, that is the point ot look at getting some positive 'ticks' on your credit rating.

beebee87

fatbelly wrote: »

You shouldn't have any trouble getting a sub-prime credit card like Vanquis or similar.

Just make sure you pay it off in full each month.

Hi Fatbelly

Thanks for your help.

So you think I will get accepted for Vanquis then?

Have you got any other idea of how I can start clawing things back to the right side of a credit rating?

Thanks again

fatbelly

beebee87 wrote: »

Hi Fatbelly

Thanks for your help.

So you think I will get accepted for Vanquis then?

Have you got any other idea of how I can start clawing things back to the right side of a credit rating?

Thanks again

There was a poster who did this shortly after completing their DRO.

https://forums.moneysavingexpert.com/discussion/comment/61510127#Comment_61510127

Other ideas - make sure you're on the electoral roll and don't move address.