Author Topic: Bankrupt 6 years ago - what can i do now please?  (Read 24190 times)

HeadCandy

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Bankrupt 6 years ago - what can i do now please?
« on: Aug 30, 2016, 05:14:29 PM »
Hello
 
I declared myself bankrupt in Oct 2010. Its nearly 6 years ago and i must say, i have had little problems.
 
What i need to know now please is what can i do now?
 
Does my bankruptacy disappear from my financial record in October?
How does this affect applications for credit in particular applying for a car loan? I have looked at getting a car (my existing one needs replacing) and possibly im only getting offered more expensive rates.
Should i apply for a loan through a dealer or get a loan from a high street bank and would this work? Should i wait untill October to do this or am i OK to do this now?
 
I would apprciate some advice.
 
Thank you
 

Lisa Thomas

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Re: Bankrupt 6 years ago - what can i do now please?
« Reply #1 on: Sep 01, 2016, 09:23:44 AM »
Hi you should have dropped off the Insolvency Register automatically after one year of Bankruptcy as long as your discharge was not suspended for any reason.


As regards your credit record - it SHOULD drop off automatically after 6 years but this is often not the case and you have to do a bit of work to tidy it up.  Have a look at it after October and see if there are any defaults still showing on there.  If so, contact the creditors direct and get them to update the record.


Take care not to make too many application for credit as you will start damaging your record again.  Get a small limit and make sure you pay off the balance in full on time every month to start rebuilding.


Best of luck.


www.Nevilleco.co.uk 01752 786800

HeadCandy

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Re: Bankrupt 6 years ago - what can i do now please?
« Reply #2 on: Sep 03, 2016, 04:01:24 PM »
Thank you very much for your help and advice.

Lisa Thomas

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Re: Bankrupt 6 years ago - what can i do now please?
« Reply #3 on: Sep 05, 2016, 09:16:30 AM »
You are welcome.
www.Nevilleco.co.uk 01752 786800