I just wanted to let people out there that there is light at the end of the tunnel. I got into trouble in 2001 and ran away from my debts. I paid off a few over the last couple of years when debt collectors turned up and a few never found me.
Recently my credits file showed all clear, I also got a cash plus pre pay card and used the credit builder facility which showed as loan repayments on my equifax and experian reports. I opened a savings account with capital one and put £1000 in it. I applied to my bank to upgrade my basic account to a full current account but got turned down – one of the unchased debts was to them so I opened a savings account and current account with nat west. They (HBOS) currently pay customers £5 a month if they deposit over £1000 a month which I have been doing for the last 6 years and never defaulted or missed a payment.
So my accounts with nat west are open and I am treated like a customer again rather than a no body. I applied and was accepted for a capital one card (I thought having a savings account for 4 months would help) which has a small credit limit but at least I have one so I can be a good customer and grow my ratings. I applied for this card 3 years ago and was turned down so I must be on the right track.
Anyway thats me, its been long and hard, I have paid off debts, made deals with collectors for reduced settlements, been very careful not to miss any payments on current bills, used cash plus & my contract mobile to show positive payments and accessed all 3 credit reports to see how I go....... My new credit card will be more repayments on my report and as time goes by I will get a larger credit limit.
So all you out there know that there is light at the end of the tunnel, just pay cash, dont apply for credit and take your time and in 6 years you can slowly get back on track.
To anyone, there are letters that you can find on this forum that you can send to delay and query debts, the help is invaluable, credit reports are useful such as (check my file and the agency's) cash plus seems to have helped me and once clean capital one seem to be available to help. All I know is its worked for me but dont try applying for credit (especial during the credit crisis) if you have any credit defaults – lastly if you do default dont close the account. If you close an account it shows for 6 years but an open account will push the default off after 3 years as they only show the last 36 payments.
Good luck to everyone out there and if you have a problem then post it as there is so much help out there in these forums
