Does anyone know what i should do next?

Dudfieb1983

I went Bankrupt in September 2005 and was discharged from it after a year (2006) ive been living on cash for the past year with just a building society account. My mum has been allowing me to use her Bank account to pay my direct debits for bills/insurance etc. i read on a site yesterday that if you just spend cash and dont try to get any credit from somewhere that my credit score will still be pants when i try again after five years. is this right? i tried to get a credit card no one would help me and i tried to get a contract phone all of which i thought would show me making repayments and therefore getting my credit score back up to something acceptable and still no one wanted to take the risk! im completely stumped as to what to do to help myself now? ive looked into getting one of those secured pre paid credit cards but will they help????

progress1712

Hi
1. Order all 3 of your credit files Experian ,Equifax and Call Credit
make sure your bankrupcty order is shown as discharged and all accounts
in your BR are settled and satisfied on your credit reports ( which they probably will not be).

2. Begin the long process of getting your accounts settled and satisfied
involve the Information Comissoners Office (ICO) if need be.

3. Stop applying for any form of credit at present it's doing you more harm than good.

4. Try to keep a healthy balance in your bank account.

5. Check your files regualy to make sure that accounts
that were in your BR have been updated as settleded or satisfied
and not sold on again to the likes of Max Recovery who will enter
defaults on your file again.

6. When your files are correct look at a credit card like Vanquis or Aqua, Yes the rates are high and the credit limit is small but the aim is to rebuild some postive credit histroy and pay the balance full in each month.

I think its six years before anything major falls of your credit files so best
to use this time to reflect on past problems not to go down the same route
again, Save some money and try to rebuild a little credit Histroy.

Hope thats helps.

tigerfeet2006

You can open your own bank account to pay your own DD/SO's etc. Here's a link to the sticky about accounts. Having your own account will help.

http://forums.moneysavingexpert.com/showthread.html?t=474254