Business Mobile Phone Contract post BR

chimaera_2

Hi all,

I had an early discharge back in August and over the last few weeks have been mulling over the future and how to maximise my income.

I have decided that i will go out contacting / consulting in the same field as i an currently in (approx 40% increase in salary by contracting).

To maximise this i shall be setting up a limited company to invoice clients through etc.

Now my question, Looking online at the major providers i see that the best mobile phone / Blackberry tarrifs are for business users.

Will my discharged BR status have an impact on the avaliability of a business contract to me or the ltd company I set up? Don't want to apply willy nilly only to keep getting rejected and doing more harm to an already completly shot credit score.

Any help or advise greatly appreciated, whether positive or negative.

Thanks,
Chimeara

Richard_S

Hi Chimeara,

You won't have a problem setting up a Ltd Co., but I think it'll prove difficult to open even a basic business bank account. The Bank's procedure is usually to do a credit check on all the directors before they consider offering the Ltd Co. banking facilities.

Mobile phone providers may be more forgiving if you're prepared to put down a deposit. The problem seems to be that there's no consistency with banks and companies offering goods and services on a credit agreement. Even different branches of the same bank don't always adopt the same approach and inevitably some applications will slip through the net.

I realsie that any application you make is going to result in a credit check that won't benefit your future credit rating but unless you try I don't think you'll ever find a definitive answer.

I'd be most interested to see how you get on because we'll very shortly bi in a similar situation.

Regards

Richard

chimaera_2

Thanks Richard for your reply.

I guess I am just going to have to suck it and see.

Strangley though, i have just been onto my credit file at experian (O2 state they use these for business contract checks) and i am suprissed at what information is missing.

under accounts it shows only my two current accouts, nationwide (set up a few months back during BR) and my barclays (released back to me in July from OR). Both are shownig healthy green marks with zero's in them. There is no mention anwhere of any of the creditors I had when I went BR (12 of them).

is this normal? should i be concerned that there is no mention of all previous creditors? It does mention the BR and shows that as satisfied.

Richard_S

Hi Chimeara,

I haven't got around to checking our credit files yet but from what I've read your experience is quite normal. Sometimes the files are updated quickly and accurately, other times they're not.

There are three main credit reference agenices and banks and other companies use different ones or a combination of the three. It may well be worth ensuring that all three are accurate and up to date; that's what I intend doing.

I realise that having bankruptcy on your credit file is not a plus point , but at least you don't have to start chasing people to update it. Apparently some companies can be really awkward and insist on seeing a discharge certificate from court that costs £60.

Richard