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Discharged from DRO future prospects of joining property ladder?
During my late teens up until the age of 21 I was irresponsible and racked up about 18K in debt. I was living above my means and had no disposable income, I completed a DRO which I was discharged from last year. I’m now 23 and have turned things around, I have a good job with a decent income and have saved up about 15K in a year, I’m living at home still however me and my girlfriend where discussing buying a house in the future. I’m concerned that my previous history will ruin my my chances of getting a mortgage in the future. My personal finances are strong and have a healthy disposable income, I’ve been using a credit card paying in full to build positive history and have not missed any payments in 2 years.
I’d like to look at getting my own place in my early 30’s but am unsure of what obstacles are ahead.
I’d like to look at getting my own place in my early 30’s but am unsure of what obstacles are ahead.
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Shouldn’t be an obstacles once your credit file clears itself in about four years.
Bad Credit history gets wiped every 6 years.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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