Credit scores

Jeremyjames_2

Hi, after bankruptcy, what is the best way to rebuild a credit score please? I have a high interest credit card already.

Thanks,

Jeremy

[Deleted User]

Bankruptcy itself normally gives a high credit score. But don't worry about what your score is, because no one else does.

Use your credit card regularly and clear in full. Consider getting a second if you can. Stay underlimit and always pay on time, Make sure you're on the ER.

Time will do the rest.

biglugs

If you can get one, get a mobile phone sim-only contract that you pay monthly. Pay it in full EVERY month. Mobile accounts are treated as credit, so this will also start adding green ticks against your name.

Jeremyjames_2

Ah, many thanks!

Jeremyjames_2

Brill, thank you!

Jeremyjames_2

By the way, what does, make sure you’re on the ER mean please? Also, ultimately, I would like to get a mortgage, but I’m not sure if this is possible after bankruptcy? Do you have any suggestions please?

[Deleted User]

ER means Electorlal Roll.

You will struggle to get a mortgage straight away and won’t get one with a good rate from a high street lender until your bankruptcy has passed the 6 year mark

Jeremyjames_2

Ok thanks Gary, do you have any recommendations of useful mortgage providers at all? I was hoping to buy a house jointly with my girlfriend, whereby she would already have capital for her share?

DCFC79

Jeremyjames wrote: »

Ok thanks Gary, do you have any recommendations of useful mortgage providers at all? I was hoping to buy a house jointly with my girlfriend, whereby she would already have capital for her share?

We cant suggest providers on the forums.


A broker might be a good idea, they will search all of the market.

Jeremyjames_2

Great, thank you!