Debt Advice

in Debt-free wannabe
3 replies 960 views
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

Replies

  • margaretclaremargaretclare Forumite
    10.8K Posts
    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
    [FONT=Times New Roman, serif]Æ[/FONT]r ic wisdom funde, [FONT=Times New Roman, serif]æ[/FONT]r wear[FONT=Times New Roman, serif]ð[/FONT] ic eald.
    Before I found wisdom, I became old.
  • MalestromMalestrom Forumite
    983 Posts
    Yep, settle the debts first, then think about repairing that credit record.
    He huihuinga taangata he pukenga whakaaro – A meeting of people; a wellspring of ideas (Maori proverb)
  • bonnie_2bonnie_2 Forumite
    1.5K Posts
    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.
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