www.iva.co.uk

As I am due for discharge at the end of next month (sounds good!) I am starting to look to the future. I currently have a contract mobile phone with Vodafone (I was surprised to be allowed to keep that) and I was wondering whether it will help me rebuild my credit rating if I stay with Vodafone? I have never missed a payment with them and I've been with them a few years.

I know the BR will be on my credit file for another 5 years, and don't get me wrong, I don't want credit (I'm not that daft!), but I don't want to be a credit leper for the rest of my life! I'll need another car one day and Dave and I might want to get a mortgage together (not likely at the moment but who knows in the future) so I want to make sure I do things right!

Your Vodafone payment history should be recorded on your credit files with lots of green '0's to show you haven't missed a payment - so stick with them - it can only do you good!

Hi Skippy from a mortgage stand point, some lenders work off of a credit payment profile, whereas others work off a credit score. The BK will reduce your overall score, but regular payments to anybody that subscribes to credit reference agencies will help.

To rebuild your credit score and profile, always try to follow at least the minimum repayment plan for your financial products. Even if you're struggling, don't default or miss payments. Doing this once or twice will cause problems that can cost you for years.

The ironic thing is that before I went into my IVA I'd never missed a payment and only ever had 2 bank charges - I was just living off credit though!

I'm going to carry on with Vodafone and I'm going to try and get my pet insurance and car insurance on monthly direct debit. They might not help me, but at least I'll feel as though I'm standing on my own 2 feet again!