Soon we will all be homeless

cleopatra4485

life is tough if you have bad credit. Yes it is your own stupid fault. when I turned 18 I went out a got store cards credit cards and didn't pay them back. I am now 23 and paying for my actions.

Due to the credit crunch it is almost impossible to get a mortgage if you are a first time buyer, if you rent, you have a credit check done on you (even with private landlords) You can't get a council property because you have a job and don't have hundreds of children.

What do you do?

live on the streets?!?!

Brian_Bullocks

cleopatra4485 wrote: »

life is tough if you have bad credit. Yes it is your own stupid fault. when I turned 18 I went out a got store cards credit cards and didn't pay them back. I am now 23 and paying for my actions.

Due to the credit crunch it is almost impossible to get a mortgage if you are a first time buyer, if you rent, you have a credit check done on you (even with private landlords) You can't get a council property because you have a job and don't have hundreds of children.

What do you do?

live on the streets?!?!

You say you will be homeless soon, but where do you live now?

cleopatra4485

Brian_Bullocks wrote: »

You say you will be homeless soon, but where do you live now?

I rented a property when nobody was asking for credit checks, now it is the done thing, even with private landlords, it used to just be a reference.

kirstymccr

i agree that its difficult to get rented accommodation but i think its only fair that landlords can try and protect themselves, many of them have been burned before by tenants who dont pay rent or leave lots of damage and you cant blame them for wanting to protect themselves.

Not sure about all local authorities but ours does a rent deposit scheme and they have a list of landlords who are willing to take part. The LA basically give the landlord a bond and it means that if the person leaves rent arrears or damage the LA covers the costs (up to a maximum) not sure what max is though

neas

Harsh lesson in life... next time take responsibility for YOUR life...

Nothing is free in life...

cleopatra4485

neas wrote: »

Harsh lesson in life... next time take responsibility for YOUR life...

Nothing is free in life...

ha ha no s*%t

there wouldn't be a next time, because I am no longer 18 with no responsibilities.

I think we would have a moto on here.

No Lectures just advice

neas

How about:

" No moaning"

then?

You brought your problems on yourself, be man (or woman) enough not to tar everyone with the same situation you are in.

Some of us weren't stupid/niave to blow things on storecards (I mean jesus wept... they are the worst credit cards... did you not think what APR meant?)

Yes the economy is in bad shape... and yes there is a crackdown on people who are HISTORICALLY BAD to lend to like yourself, but for good reason. Its this bad lending that has caused an inflation in prices, increasing personal debt levels and increasing insolvencies (Bankrupticies). Now the tide has turned... now they are lending sensibly and those who borrowed foolhardedly are not selected before the prudent ones.

I think you would agree in a business orientated world this is the sensible and correct approach? After all people are in business to make money... not lose it.



Want advice?

1. Rebuild credit rating to PROVE you are good to lend to
2. Cut back to save AS MUCH as possible for a deposit for a house
3. Take advantage in 2 years time in the drop in house prices
4. In the meantime be nice to your landlord or search for private landlords with 'lesser' houses.

Sure it'll be harder than if you had a good credit rating but not impossible...

cleopatra4485

neas wrote: »

How about:

" No moaning"

then?

You brought your problems on yourself, be man (or woman) enough not to tar everyone with the same situation you are in.

Some of us weren't stupid/niave to blow things on storecards (I mean jesus wept... they are the worst credit cards... did you not think what APR meant?)

Yes the economy is in bad shape... and yes there is a crackdown on people who are HISTORICALLY BAD to lend to like yourself, but for good reason. Its this bad lending that has caused an inflation in prices, increasing personal debt levels and increasing insolvencies (Bankrupticies). Now the tide has turned... now they are lending sensibly and those who borrowed foolhardedly are not selected before the prudent ones.

I think you would agree in a business orientated world this is the sensible and correct approach? After all people are in business to make money... not lose it.



Want advice?

1. Rebuild credit rating to PROVE you are good to lend to
2. Cut back to save AS MUCH as possible for a deposit for a house
3. Take advantage in 2 years time in the drop in house prices
4. In the meantime be nice to your landlord or search for private landlords with 'lesser' houses.

Sure it'll be harder than if you had a good credit rating but not impossible...

women enough;)

thanks for the advice. I was very naive, I am afraid the jacket in warehouse was more appealing when I 18 than my future.

But you live and learn.

Saving it is, no more shoe shopping:(

Jvic28

I think that was a little harsh neas. Yes store cards are incredibly stupid things to borrow on but anyone can make mistakes and @ 18 it's easily done.

I did the same, I had no responsibilities @ 18 and borrowed on store cards but as I paid them back in full every month was not charged interest. However as I got older and had more commitments I found I was not paying them back in full and it snowballed into a debt I am still paying off today.

However, I do agree with your advise. You need to save, repair your credit and hold out for a better market. Can you stay with your current landlord or maybe move back in with your parents for a while. (Thats what I did and it really helped me to save and now I own my own flat)

pennylane99

a bad credit report doesnt stop you from renting...

you may be asked for a guarantor, or to pay several months rent up front.

Jvic28

pennylane99 wrote: »

a bad credit report doesnt stop you from renting...

you may be asked for a guarantor, or to pay several months rent up front.

It does stop you from renting from some agencies that carry out credit checks and even charge you for the privelege.

It's worth scouring the internet and newspapers as there will still be agencies or private landlords out there who do not credit check.