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What happenened after BR for me
sazaboo
Posts: 138 Forumite
I got lots of good advice and support from this site so I thought id post a little update,
My BR was 02/08/11 and I was dischrged 'early' on 12/07/12
The whole process was quite smooth on reflection, it was scary and stressful at the time but far better than the alternative.
Im not any better off income wise but my outgoings are under control. My car gave me some unexpected bills and I was kucky enough to be able to loan from family and even get a payment from a benevolent charity that I was eligble for.
The odd occasion that I needed a bridging loan for something urgent, I was able to get small loans from Quick Quid and Wonga, I always paid them back straight away and never defaulted. I also felt quite proud that I had managed to borrow and repay something. A feeling I had not had for a long time and it feels good.
The car finally started becoming a real issue and I knew I needed to replace it with something newer/reliable etc. I had a chat with the guys at Carcraft and they provisionally approved finance, so I went down and found a car within my budget for monthly repayments and a bit of haggling later was able to drive away in a new (to me) car.
I had a think about how much I was paying in total, which is quite a lot as the APR is 35%. I had been refused a personal loan so decided to get a credit file report, id assumed it was all ok....well it wasnt!
I wasnt on the electoral roll!! and a couple of accounts from thr BR were showing as defaulted...I kicked myself!
If id this before getting the car finance, id probably been able to get a better APR.
So now the plan is to clean up my credit file and try to get a better loan and clear the finance early, Ive already sent the form off for the electoral role and started contacting the old debtors to update my file. All the info I needed was found on this site, so thanks again!!
the light at the end of the tunnel is getting bigger, ive learnt lots in the last few years, self control is a big one!!
so thanks MSE!! and good luck to everyone!!
My BR was 02/08/11 and I was dischrged 'early' on 12/07/12
The whole process was quite smooth on reflection, it was scary and stressful at the time but far better than the alternative.
Im not any better off income wise but my outgoings are under control. My car gave me some unexpected bills and I was kucky enough to be able to loan from family and even get a payment from a benevolent charity that I was eligble for.
The odd occasion that I needed a bridging loan for something urgent, I was able to get small loans from Quick Quid and Wonga, I always paid them back straight away and never defaulted. I also felt quite proud that I had managed to borrow and repay something. A feeling I had not had for a long time and it feels good.
The car finally started becoming a real issue and I knew I needed to replace it with something newer/reliable etc. I had a chat with the guys at Carcraft and they provisionally approved finance, so I went down and found a car within my budget for monthly repayments and a bit of haggling later was able to drive away in a new (to me) car.
I had a think about how much I was paying in total, which is quite a lot as the APR is 35%. I had been refused a personal loan so decided to get a credit file report, id assumed it was all ok....well it wasnt!
I wasnt on the electoral roll!! and a couple of accounts from thr BR were showing as defaulted...I kicked myself!
If id this before getting the car finance, id probably been able to get a better APR.
So now the plan is to clean up my credit file and try to get a better loan and clear the finance early, Ive already sent the form off for the electoral role and started contacting the old debtors to update my file. All the info I needed was found on this site, so thanks again!!
the light at the end of the tunnel is getting bigger, ive learnt lots in the last few years, self control is a big one!!
so thanks MSE!! and good luck to everyone!!
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Comments
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Thanks for that useful update.
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