Debt Advice 29 May 2005 at 2:22PM in Debt-free wannabe 3 replies 960 views

mitcho_uk

Hi, Im currently in agreement with my creditors to pay a small amount per month to clear my debt and as a result my credit history is appalling. In the future I shall be wanting to get a mortgage etc etc and I have been told my credit history will affect this. so i have thought about getting one of the capital one credit cards.

Would using one of these improve my credit history or am i wasting my time until i pay off my original debt

thanks

margaretclare

Please concentrate on paying off the debt - getting another card opens up another avenue of temptation to spend, then get another card, then a loan to pay off the cards...this is how it starts.

Work out exactly how much you owe and write it down - maybe put it on a spreadsheet then you can see it going down every month. This is a great motivator - seeing the amounts going down steadily and gradually! When you've cleared your debts then you can think about getting a mortgage.

Aunty Margaret

Malestrom

Yep, settle the debts first, then think about repairing that credit record.

bonnie_2

bad credit stays on your file for 6 years anyway, youve got plenty of time to worry about a mortgage,i cant even get a cheque book.