Exactly Jan, Once i have paid this IVA over the next 5/6 years, the last thing i want will be anymore credit. In fact i could not give a stuff about the rating. This has taught myself and my wife a painful and stressfull lesson.
I just feel once you use one of the cards as suggested to buid your rating, the rocky path will start again, and we all no where that path led us this time.
I feel exactly the same, but I do accept that some people will need credit in the future.
Hopefully they will have learned by their mistakes and not get into trouble again.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Credit doesn't just mean cards and loans. The reason I've (nearly) sorted out the defaults on my credit file is because I know that one day I'll want a new mobile phone contract and I know I'll need finance for a car, and I may need to go on the mortgage.
Jan, i agree with what you say. What amazes me is that from time to time you get messages on this board asking about credit when people are still in an IVA. I think i would personally feel very concerned if i was asking about credit whilst in my IVA. I feel it won't bode well for the future.
As i said the other day, the only type of credit i may have in the future is on a car. Although i hope this won't be needed.
I think by paying the mortgage and other bills, your rating will improve after coming out of the IVA. I really need to be convinced about using cards to improve my rating.
I am really against credit now and not sure I want any again. It is that bad that my gas bill took 2 payments over the phone instead of 1 and when I rang to complain they said they would refund the 1 payment and put £20 credit on the next bill for the inconvenience and I said I don't want any credit and then realised what they meant. [:D]
IVA.co.uk The best place for debt advice. Thanks to Melanie Giles, David Mond, David and J (Elv5) Kallis, Dand, Skippy, Andy Davie
A lot of people will only take out credit again for such things as cars, mortgages and mobile phones.
As long as you can manage credit responsibly there shouldn't be a problem.
Hopefully those of us who have been through the process, won't want to go through it again.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Thats right Kallis, I agree with needing the above and most people will need some form of credit to obtain these items.
Where i slightly have cold feet, is using cards and the like to improve your rating.
I won't be using any cards again, and fortunately I won't be needing a new mortgage or finance for a car again (motability car), but I can see why people would want to do this.
They have to make sure that they're not tempted to go on spending sprees.
I've lost count of the number of times I have paid off cards, swore I would only use them for emergencies after that. It's amazing how many 'emergencies' you can find!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Probably i should have addressed my debts about 10 years ago. Instead of borrowing more money to get out of the situation at the time and then doing it again.
Maybe if somethng like this board was around then, my actions would have taken a different route. It is easy to look back on the mistakes i have made and regret them. However, i now finally feel i have found a way forward and life is so much better.
We took out a consolidation loan several years ago and paid most things off. We ran them up again on cars, holidays etc.
Many a Saturday afternoon was spent going out 'just to look' and we always ended up buying things.
I could never go shopping without nipping to Evans (a fattie, me) and I always bought something!
Now, fortunately, I had a uniform for work and other clothes come from Ebay!
Never going to be in the position where I used credit to buy things again.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I know where that comes from. A Saturday afternoon window shopping....
It is absolutely amazing what you can pick up off ebay these days. And it is so much cheaper than the shops usually.
My wife had a meeting to go to and needed some new items. She had a quick look on ebay and found some clothes from Evans. A couple of days later they all arrived with tags on and we had only spent a fraction of the price.
Probably! I sell a lot of my old clothes on Ebay, some I bought and never wore (what a waste of money!) others I grew out of (both putting on and losing weight!). It funds my purchases on there.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
