Credit rating after SC?

meredith132

Thank you everyone for your comments. I really appreciate your advice and opinions. I had yet another sleepless night and feel that really my only option is to go down the DMP route. I can't cope with the anxiety of wondering what will happen next month, every month! :eek: I have opened up a couple of new accounts in 2 different banks. One for bills only , and another for day to day spends then I will get an emergency fund and then go all out to hammer this debt.

I talked it through and it seems the sensible thing to do. I really love my home and don't want to sell it the mortgage is £400 a month and I brought a gem so I will pay a lot more for a lot less round here if i were to sell now. It really doesn't make sense to do that just yet.

I feel a spreadsheet coming on!!! any advice on keeping a good spreadsheet on here? Everyone seems to enjoy them lol x

runforlife

Good luck with it. If it helps for 'credit rating' replace the word 'credit' with debt. Been on a DMP since last November and wished I had started it much earlier. It's great to live day to day with your own money and not to be increasing any debt.

meredith132

Oh no you say that and this afternoon been thinking struggle on a bit longer but I love the "debt rating" thought thats more like it! I just can't stick to one thought on the subject, head is spinning !

EdFromBeds

I wish mine had defaulted me - 2/3 of the way through the debt and no defaults - credit rating will be poor for at least 6 more years but at least the debt will be gone in a years time

meredith132

Wow you have done well to get that debt down like that, you give me hope! :T