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Posted: Fri Oct 03, 2008 11:15 am
by dovey69
Hi all,
I am after some advice on how to re-build my credit rating...
I have an IVA (nearly 2 years gone) and didnt know if there are things I can currently do to try and improve my rating? If I get credit searched for renting a new place, or for example - wanting a mobile broadband USB dongle contract, then these will currently come back as a bit No No...
Is there anything I can do? [:(]
Posted: Fri Oct 03, 2008 11:23 am
by Lisa2009
Your credit rating is going to be shot for 6 years from the date of the acceptance of your IVA. I'm not actually sure if theres much you can do to change that untill then.
Some companies will accept you for broadband and such like. You just have to shop around.
Posted: Fri Oct 03, 2008 12:12 pm
by kallis3
I don't think there is anything you can do. You just have to accept that you're not going to be able to get a lot for 6 years.
As Mrs S. says, you will have to just try everybody. They can only say no, and they might surprise you and say yes!
Posted: Fri Oct 03, 2008 12:17 pm
by rayb
If you have an existing mobile phone contract or catalogue these report to the credit agencies so as long as these are A1 then it does look a little better on your history and will help in the long term
Posted: Fri Oct 03, 2008 12:21 pm
by kallis3
Are you supposed to have a catalogue Ray? Wouldn't that be looked on as credit?
Posted: Fri Oct 03, 2008 12:24 pm
by rayb
Possibly not but I had it pre-IVA and have always maintained it and only with a small balance. I have had to use it on occasion for emergencies and it has not impacted on my IVA payments so I see no reason why I should not
Posted: Fri Oct 03, 2008 12:33 pm
by kallis3
Possibly. As long as you don't go mad on it.
Posted: Fri Oct 03, 2008 12:34 pm
by rayb
Believe me after the amount of debt I racked up (£37K) and I still do not know how I would not go down that road again [:D]