I have fucked everything up. Poor credit score

[lompla]

I have a few mental health disorders. The past couple of years have been awful, I've been the victim of a violent crime and physically unwell which has impacted my mental health.

I got into a right pickle with money. I have two defaults on my file and missed umpteen payments. I am about to pay off my final debt in full, but obviously these defaults stay on your file for six years.

I want to be able to get a mortgage over the next few years. This won't be possible with it? Or finance a car?

I don't want to be renting for 6+ more years.

I feel like such an idiot and a failure!!!!!!

Speak to a mortgage specialist to find out your chances and time scale. Save as much as you can in the meantime to lessen the mortgage burden. Discuss with the specialist the best place to invest your money. You’ll have to wait till someone will lend to you so you may as well get prepared

Thank you.

Hello, I hope this helps a little but my advice would be to try and not worry too much. Once you’ve settled your payments on the defaulted accounts, they’ll be marked as satisfied on your credit score.
Try and keep up to date with any monthly outgoings and if you can, apply for a credit card, make small purchases each month and pay off in full each month to rebuild your score and show that you’re able to afford the repayments. Capital one is really good for this and over time, they’ll increase your limit which will increase your ability to borrow.
You may also be able to make notes on your credit file to explain the reason behind the defaults.
This article may also make you feel at ease -
https://amp.theguardian.com/money/2024/jan/18/unsecured-debt-defaults-uk-banks-lenders-forecast
Defaults are to be expected, covid has had a lasting effect on so many and it’s now plummeted the country into recession!
Try not to worry, wishing you all the best - your dream home probably isn’t as far away as you think 🤞🏼

This is great advice. I'd recommend using the credit card first and purchase each month of a regular amount. I used to do it with petrol as I usually used the same amount each week.

I'd put the money aside at the beginning of the month to pay the Credit Card bill off in full, then pay for all of my petrol via the credit card.

Have you set up a small savings pit too OP so that you have a fund if anything goes wrong?