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Finishing a DMP and rebuilding my credit history.
nitsuapowers
Posts: 1 Newbie
Hi all,
I am coming to the end of a debt management plan shortly and I would like to rebuild my credit file ASAP.
I currently have 2 properties that I rent out and would like to add to this.
My credit rating currently reads 999 but due to the history in the last 6 yrs, I have no chance of obtaining credit any time soon it seems. (Which makes a mockery of the credit scoring system!!)
Can I get these negative things off of the account?
Will it benefit me to get a "poor credit" credit card and sensibly spend and pay off?
I feel I should contact my bank and speak with them to check their criteria and see what is holding me back in a year or so.
Is it possible in this computer says no age to build a trustful relationship with a bank to help in future endeavours?
I would like to purchase another house in the next few years so would welcome any tips to help achieve this.
Many thanks for reading this.
I am coming to the end of a debt management plan shortly and I would like to rebuild my credit file ASAP.
I currently have 2 properties that I rent out and would like to add to this.
My credit rating currently reads 999 but due to the history in the last 6 yrs, I have no chance of obtaining credit any time soon it seems. (Which makes a mockery of the credit scoring system!!)
Can I get these negative things off of the account?
Will it benefit me to get a "poor credit" credit card and sensibly spend and pay off?
I feel I should contact my bank and speak with them to check their criteria and see what is holding me back in a year or so.
Is it possible in this computer says no age to build a trustful relationship with a bank to help in future endeavours?
I would like to purchase another house in the next few years so would welcome any tips to help achieve this.
Many thanks for reading this.
0
Comments
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Cash plus card, year fee is recorded as a loan.
Pay in the year up front so you don't miss a payment and after 12 months you have a successfully completed loan on file.
Aqua card. I make one purchase a month in it, around £50 and pay it off in full by dd.
I've got 3 years of green dots on my files but only came out of DMP in December 2013. Hoping to get a home move next year.Save 12k in 2014 member 056
£0.00/£70000 -
nitsuapowers wrote: »I have no chance of obtaining credit any time soon it seems. (Which makes a mockery of the credit scoring system!!)
Lenders rate you themselves not the CRA's.
With a DMP in the background be some years before you'll be considered for another mortgage.0 -
Thrugelmir wrote: »Lenders rate you themselves not the CRA's.
With a DMP in the background be some years before you'll be considered for another mortgage.
Not neccessarily, there are specialist mortgage providers out there but the rates would be higher. A broker would be the best bet0 -
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