When Will Bankruptcy Be Off My Credit Report?

credit report

Question Jon, I went bankrupt almost 10 years ago. It was due to just being young and silly and using credit cards. When will this bankruptcy be removed from my credit history? Answer Hi, Everything, including bankruptcy stays on your credit file for a period of six (6) years. So if you went bankrupt 10 […]

I Cannot Get Credit After Going Bankrupt

loan application

Question I went bankrupt 10 years ago and still cannot get credit. I applied for a credit card and was rejected. I just want to move on. Ky Answer Ky, Have you reviewed your credit report recently? Applying for too much credit can also lower your credit score. The bankruptcy should have dropped off your […]

I Cannot Pay Off My Credit Card

various credit cards

Question Hi Jon, I took out a credit card a year ago and it had a credit limit of £500, of which I quickly used. The interest rate is almost 40%, and I cannot get the balance to come down. I can only afford the monthly payment so I am unsure what to do. Can […]

Will Going Bankrupt 5 Years Ago Stop Me From Buying a House?

key opening a house

Question Jon, years ago I went bankrupt, and it was a good thing. I was so far in debt and there was no way out. Now after about 5 years I am looking to buy my first property, but am concerned that the bankruptcy will stop me from getting a mortgage. I have a good […]

Today in UK Debt: 30/03/2022

2022 calendar

Victims of Buy Now Pay Later BNPL is not a new thing, you can read more about it here. However, according to Experian, one of the UK’s credit bureaus, it can be a problem for some, in how it affects their credit score. Experian explains it all here. More Debt News and Advice Rightsnet has […]

How Can I Owe An Energy Bill For A Flat I Do Not Live In?

electric meter

Question I bought a studio flat about 16 years ago but didn’t end up living there as I moved abroad due to work. I decided to keep my flat and rent it out as if I ever moved back to the UK I had somewhere to live. Eon Energy company have sent me an email […]

How We Can Inadvertently Lower Our Credit Scores

credit report

Over the years we have heard, and been told, how important our credit score are. There are even adverts on the TV telling and showing us how these companies can help to improve our credit scores. And our credit scores are important, as they are used in many ways. Some employers use credit scores to […]

Is Bankruptcy The End Of The Credit Line?

end of a rail line

One of the first things someone thinks of when they are in major debt and need to get out of debt as they can no longer afford to repay those debts is Bankruptcy. However, there are other options as well, such as an IVA/Individual Voluntary Arrangement, or possible a DRO/Debt Relief Order. In fact, depending […]

Being In Debt Costs Us More Money Than Others Not In Debt

time and money

For some borrowers, we take out a credit card, get a loan, finance a car, and simply pay the payments each month, knowing we are paying some form of interest. Borrowing money, taking out credit is not free. Unless you get zero percent interest rates….which not many of us will receive. So we know borrowing […]