Terrible credit score - there's no hope is there?

[polon]

My score is 161 out of 1000 and whilst I am about to pay it all off, there will be a partial settlement on my file. I'm 23, one DS.

Is ever getting a mortgage etc. off the table? I'm not even sure I'd be able to rent privately?

Is there any way I can claw this back?

I feel like I have ruined my life and there's no way out or back.

Yes, there is hope for the future.
Sounds like you are in a decent place if it is all about to be cleared.
Then work on keeping payments on time, and not taking out debt you can't pay back. The credit score will increase with time.
Good luck!

Of course there's hope, loads of people have terrible credit scores in their 20s, I did. There are some things you can do.

Make sure you keep up to date with any repayments, make sure they're paid by direct debit, even if it's only the minimum amount
Make sure you're on the electoral roll
If you have cards or debts and are struggling to repay them, make payment plan arrangements with every company. Make these realistic, amounts that you can afford, they will accept low amounts if you can show this is what you can afford to pay
This sounds counterintuitive but if you get a credit card in the future spend very little on it but pay it off in full every month, this will build a good payment profile
Google the snowball method and use that

I am paying everything off soon so will have no outstanding debt.

Thank you so much for both of your responses.

Just dont miss any payment, credit score update every month as well. You are doing fine dont worry.

Well done on almost being at the paying it all off finish line!

You've got a good amount of time to rebuild your score, whilst past issues on your file can be taken into account (depending how long ago!) good credit management going forward will really help improve it.

Like PP have said, make sure you're on the electoral register at your address, keep paying bills on time, manage any credit limit you have responsibly (e.g making more than the min payment on a credit card or similar).

My friend has just got her first home (aged 33!) after several defaults and issues in her mid twenties. She's turned it all around and now has a really good credit score and her first home!

You've made all the right steps and now you'll be able to make all the right ones in the future to get where you want to be 😊

I had a shocking credit score years ago from letting an ex partner use my name for loans and catalogues (idiot I know) it has taken 6 years and I am now in the 900's (excellent)
It just takes time. Once they drop off your credit file one by one it'll boost your score.
Make sure you do things like get yourself on the electoral roll, pay credit cards off in full at the end of every month and limit further borrowing or applications for credit as it creates hard searches on your score.

Good luck but there is hope. x

You can it will just take some time. Work out why you got in this position, make sure you take responsibility in your mind (really important).

Keep paying every bill on time and over time it will go up.
Credit card eventually which you pay off in full but only if you really trust yourself.