Credit report after bankruptcy

Nattster

Hi, I'm sorry if this has covered before but I really have no idea what I'm doing! I was discharged from Bankruptcy in June 2015, and I'm now trying to make sure everything is in place to start building my credit rating up again. I've checked my credit report and one of the negative factors is 'you have had at least one account in default or repossession' - now this relates to my credit card debt that was written off when I was made bankrupt. I remember receiving a letter from a debt agency about this (Arrow Global LTD) just before I was discharged. It said that the debt had been passed on to them, but I didn't really understand it since I thought the debt had already been written off. Is this normal to have on my credit report as well as my bankruptcy?

Any advice would be greatly appreciated

Thanks

fermi

See --> Credit Reference File Clean Up Post Bankruptcy

Going through the motions with that should put most things to bed, so to speak.

Nattster

Thank you very much! I don't suppose you could point me in the direction of a thread about rebuilding credit after discharge? I want to apply for a credit card to help build my credit rating up but I want to make sure I'm in a position to do so right now. Thanks again!

debtsrus

Hi Nattster,

Shortly after I was discharged from bankruptcy I applied to Vanquis for a credit card and was accepted. Be careful though, they charge a hefty 38% interest!! Expensive, but worth having for emergencies.

Good Luck!

fermi

There's no real magic to it. All you can do is gradually try to get some routine/sub-prime credit that you always pay off. e.g bad APR card, builder card (of dubious advantage though), a phone contact if you can, etc.

The BR itself will preclude much else for the 6 years it's on there, but by the time it drops you want to just be able to show a modest and reliable history of use of credit.