Payday Loan/Credit Score help

Why not sign up to something like Clearscore and see what your actual credit score is? If someone runs a credit report on you they'll be able to see what defaults and CCJ's and all that sort of stuff you've had recorded against you in the last 6 years but taking out high interest pay day loans in itself won't be a problem, it's just whether you paid them back in time or defaulted on them. If you have a low score, it doesn't necessarily mean you won't get a mortgage, just that your choices of lender might be limited. Any problems it's best to speak to a mortgage broker as they're the expert on what your choices are. Look for a local one, see what they say. As for the car, I've never financed a car, always just had little run arounds so can't comment. All the best, take it one thing at a time. x

Hi Bluespace.

A serenity and renewed pride is your goal. I would not stress yourself worrying about credit scores because if you can afford car and mortgage repayments it will come if you want it.

The key is an openness and honesty but I wouldnt go pouring your heart out to financial institutions and they deal with business in a cold and calculating way.

Yes the reality check is that lots of pay day loans will not look good to them but life goes on and you can show them a new you.

You can face it with pride though and get a full report of what they have. It does not define you as a person though so always remember that

I have credit again and I manage it superbly

The main thing is that you have stopped gambling. To a large degree the rest will just fall into place when you have consigned gambling to the dustbin of history.

Best wishes from everyone on the forum

Thanks to both for your help. I think the best thing to do is to just be honest regarding any future finance/applications. Unfortunately I have already got a clearscore account and it doesn't make pretty reading. I appreciate your help and wish yous all the best ?