Post DRO

em_s68

Hi All!

Thanks to my DRO, i'm not debt free! :beer: My DRO was granted 30 July 2012. I have since cleaned up my files, and all debts are showing as settled, with the correct default dates showing on Noddle. (thanks to the templates on here)

Now, obviously I'd like to build up my credit again! I have a mobile phone contract (never changed throughout my DRO as it is cheap) so that's one green mark I guess! No overdraft and current account all ok.

Anyone got any advice on credit cards? I have done the soft check on here, and I was 60% guaranteed to get one of the bad credit ones, applied and was declined.:( it was backed by a company who was one of my creditors though. But I had zero chance of another yet, yet they wrote to me with a pre approval letter?! (is this marketing junk?!) or would I be best with my bank? they're a high st bank, but I have never owed them money, and have even set up a small ISA with them.

Just a little stuck, maybe it's a little to early?!

I totally trust myself. my DRO has totally changed my way of thinking, and I'd never get in debt like that again! nothing but a mortgage! It's so nice to finally have a permanent job, new pension pot (ok, only 2 month in!) no debt and a holiday to look forward to! Just looking at getting a joint mortgage in approx. 5 years time so hoping to put things right with my file!

thanks

em_s68

18 months yesterday was the date of my dro going through. Yesterday I got accepted for a Vanquis card! (Despite mse soft checks saying i've 0% chance of getting one!) :j

Time to rebuild the credit!

[Deleted User]

Tread carefully.

I am also a July 2012 DRO'er! I got an Aqua card @ 'CCJ' rate but I think it's a trap for reasons below -
...Started at £300 - credit limit has gone sky high in no time at all, in fact I can borrow more then the DRO ever went through for on just 1 card alone! (which is nuts) to a point I feel repulsed having a credit card, and will be refusing the latest rise as yep we can all be responsible!

While I've been refused these:
Mobile phone (possibly allowed a sim only)
Overdraft
Any other Bank account
Store card @ 30% (this was waaay more embarrassing then being refused a job)
as I thought it better then having a credit card?

So it is weird what you could be turned you down for! I don't mind the protection of a credit card but that's the only thing going for it with the likes of us

em_s68

Yes, this one is a hotrendous interest rate! But i will pay in full each month. I wouldnt be doing it if I didnt trust myself, I can never get back to old spending habits! Im totally changed! Plus - my situation is very different. Secure job, (as secure as can be these days!) no longer live alone. I've been putting this on partners card and paying off each month, I've been really good. Not to mention, quidco, mystery shopping, savings!

I just want a credit record for when I go on the joing accounts and mortgage in 4.5 years! Hasnt the 18 months flown already?! Crazy.

Good luck to anyone else just setting out on debt free journeys!

NorthFin

Deleted%20User wrote: »

Tread carefully.

I am also a July 2012 DRO'er! I got an Aqua card @ 'CCJ' rate but I think it's a trap for reasons below -
...Started at £300 - credit limit has gone sky high in no time at all, in fact I can borrow more then the DRO ever went through for on just 1 card alone! (which is nuts) to a point I feel repulsed having a credit card, and will be refusing the latest rise as yep we can all be responsible!

How much credit were you offered? This is crazy so soon after your DRO.

Maybe it is because they know you cant do another DRO again in what another 5 or so years?

National_Debtline

NorthFin wrote: »

How much credit were you offered? This is crazy so soon after your DRO.

Maybe it is because they know you cant do another DRO again in what another 5 or so years?

Hi keepcalm

Like NorthFin, I was wondering what sort of limit was involved - Aqua cards would only tend to go up to £1600-£2000 at the very most. Even that would indeed be quite an increase on a £300 limit, though.

Lenders you have an existing relationship with can be more willing to offer further credit than others, simply because they know that bit more about your spending habits. Good to hear you're not letting it sway you, though.

Dennis
@natdebtline

debtsrus

Hi All!

I've just checked my credit file with Experian and discover that one of my creditors has listed my account as in payment default 3 months after my B date.
I know there are some templates on here somewhere that I can use to write to these people to try and correct this, could some kind person tell me where to find them, I've searched high and low and still can't find them.

Thanks

debtsrus

[Deleted User]

Think it is the sticky in bankrupt and living with it board

https://forums.moneysavingexpert.com/discussion/677875
See template letter in post 2 - just amend for your details

debtsrus

Hi

Thanks for your prompt reply. Just the job!

[Deleted User]

National_Debtline wrote: »

Hi keepcalm

Like NorthFin, I was wondering what sort of limit was involved - Aqua cards would only tend to go up to £1600-£2000 at the very most. Even that would indeed be quite an increase on a £300 limit, though.

Lenders you have an existing relationship with can be more willing to offer further credit than others, simply because they know that bit more about your spending habits. Good to hear you're not letting it sway you, though.

Dennis
@natdebtline

Hi Dennis
Just under 6 months to get from credit limit £300.00 to £2,000 :eek: (increase absolutely wasn't ever requested by me)
guess the £500 restriction of credit falls of after the memorandum period


Although further on it's also deternated other credit lines even that of a payday loan type which is more my thing in borrowing more like £100.00 if needed... so not my finest decision to try for a card and shocked how it could go up, like I say my total DRO was for less than total of £1,900 and it's not like a DRO isn't public hey :cool:


Have to be so careful peeps with those card builders