Update 6+ years

yellowmonkey · 5 November 2015 at 8:15PM

Hi

Don't post a lot nowadays but thought I would post a quick update to, perhaps, give hope to those of you about to embark on a journey that I, and many others have been on. I started this journey back in 2009 and posted often on this board and received tremendous help and support from the regular posters and other contributors that contribute to this post and I would like to say "Thank you" to you all and long may you continue to help and guide all those who seek help.

I went BR in April 2009 with approx £35,000 worth of debt and since that day I have taken several steps to get back on the ladder of normality (so to speak)

I started off with a CO-OP cashminder account and I was lucky enough to keep my Nat West "Step" account. I applied for a cashbuilder card and was accepted and kept that for a year and then applied for a Vanquis credit card. I was initially turned down but I left it a while and re-applied and was eventually accepted and started off with a low credit limit £250. I used this for petrol and sundries and paid off the balance (IN FULL) every month ! Very important that bit ;o). After a while my credit limit increased until it reached £3500 after about 4 years. I applied for an Aqua credit card as well and was also accepted again with a small credit limit which I used and paid off ( IN FULL) every month. This has now increased to £1100 and I still use it as it is 0% on foreign transactions. This was done on a long term plan that, I knew would take 6 years at least.

After the 6 years had gone and my BR had dropped off my credit file I applied for , and was successfull, in getting a Barclays current account and several months after that I applied for, and got, a Barclaycard Platinum Credit card with a normal % rate. Fast forward to now and I was lucky enough to be able to have the oppertunity to buy my house under the right to buy scheme. It was with trepidation that I approached the mortgage advisor but after a couple of hours and after informing them of my previous BR I was able to get a Mortgage and buy my house with a High Street bank and a normal % rate.

The moral of the above is, not to gloat, but to tell anyone out there that there is hope and that it takes time to get back to normal but be patient and follow all the advice on this excellent thread and don't lose hope and look to the future. It may seem you are at your lowest ebb but keep going there is a light at the end of the tunnel. It may take a while but if, like me, you can be told that your credit rating is "A+" by the mortgage advisor, then keep going and whatever thoughts are going through your head put them aside and focus on the future.

I would like to sincerely thank each and everyone on this thread for the advice and support they give each and every day :beer: