Rebuilding credit rating after bankrupty

sarah84

Hello to you all as I'm new here! :hello:
I am 23 and went bankrupt about 18months ago, and was discharged from it about a year ago. Shortly after I was given a bank account by co-operative.
I am desperate to rebuild my credit rating, does anyone know of ways of doing this? I have heard getting a contract mobile phone and paying it by direct debit helps, is this true? Would I have trouble getting a mobile phone contract?
Thankyou for any help

NekoZombie

Getting back on the ladder after bankruptcy is a long hard slog, but it is possible. The starting point would be to check your credit reference files and make sure that all your previous creditors have the correct information - all your defaults should now be marked as satisfied now that you have been discharged, assuming you do not have an IPA. They will still stay on your record for 6 years, like your bankruptcy. Bear in mind that while these are on your credit file, credit will always be difficult to get.

Like you suggest, it is a great idea to start with small things like a mobile phone contract, though do not be too disheartned if at first you will be turned down. It is only a matter of time.

debtmonkey1

Sarah....if you are turned down for a contract mobile you could try something like virgin internet, etc...again if turned down google' noodle' mobile phones (post on it in phone section)-they WILL report to your credit file-even if bad credit. You can call them to check if you want.

The only other way is to be naughty (or in my other 1/2s case-plain daft!)-she is from overseas & said she'd been away & had not been in the UK (this was 18 months after discharge) & hence did not mention BR address (she's moved now). As no BR address linked to new address she started with a basic yorkshire bank a/c & they upgraded it a year later. She genuinly got confused (not speaking fab english) with questions but the upshot is her credit file looks great!

I'm not condoning this at all but I do no other people that have done it too after BR. After 6 years the BR will drop off the file & you'll be clean again.

piggeh

I got turned down for mobile phone contracts. However I ended up with a T-Mobile U-Fix plan which was easy to get, and hopefully after paying a set amoun each month I will contact them shortly to ask for an upgrade to the contract to a 'proper' contract.

Posthinking

I have a moby contract which was not included in BR, although they do know about BR and I've just upgraded without any probs. It's a hard slog but even after only 2 months post discharge my credit score is rising little by little