Author Topic: what do i do next  (Read 1757 times)

vince c

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what do i do next
« on: Dec 04, 2011, 10:59:30 AM »
hi my br ends feb 2012 i pay £65 a month to moonbeaver till 2013 i havent owned a car since before my br will i be able to get one without any drama thanks

James Falla

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Re: what do i do next
« Reply #1 on: Dec 05, 2011, 01:34:57 PM »
Hi Vince C
 
Once you are discharged from bankruptcy you can then buy a car if you want to. Howover you will still have to continue to pay your income payment order so saving the required cash to get the car might be difficult. Also remember that the cost of running the car might affect your ability to pay your IPA. Unless there is a real change in circumstances meaning you must now have a car, the the OR will probably not agree to reduce your IPA payment on the basis that your living expenses have increased because of your car.
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vince c

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Re: what do i do next
« Reply #2 on: Dec 05, 2011, 04:57:00 PM »
cheers mate very helpfull i wouldnt try to chage the payment just dont want to get a can then have the or take it its free off a mate when he get a new one

James Falla

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Re: what do i do next
« Reply #3 on: Dec 05, 2011, 05:21:23 PM »
No problem Vince
 
Once you are discharged any assets you get after that are yours to keep. Other than your IPA, you are no longer bound by the bankruptcy rules after your discharge. :)
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vince c

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Re: what do i do next
« Reply #4 on: Dec 05, 2011, 05:38:04 PM »
do i have to send info to credit people to tell them iam discharged and if i do whats the benefit of doing so

James Falla

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Re: what do i do next
« Reply #5 on: Dec 05, 2011, 08:25:50 PM »
Hi Vince, there is no need to send this info to your creditors or the credit reference agencies. They will not be particularly interested as the record of the bankruptcy has to remain on your file for a futher 5 years after your discharge (6 years in total). However one tip is make sure that any default notices are dated the day you were made bankrupt. Check you credit file to see. Default notices also stay on your file for 6 years and creditors have a sneaky habit of adding them through out the year you are banbkrupt. As such in 6 years time you could end up in a position where the record of the bankruptcy comes off your file but a default notice remains for a futher 12 months...
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vince c

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Re: what do i do next
« Reply #6 on: Dec 06, 2011, 06:49:01 AM »
cheers mate how do i check my credit file

James Falla

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Re: what do i do next
« Reply #7 on: Dec 07, 2011, 12:05:03 PM »
Hi Vince. You need to get a copy of your file from one of the credit reference agencies. Equifax, Experian and Callcredit are the three main ones. Log on to their sites and request your statutory file for £2. Thre is a guide about how to do this [** sorry, no personal contact invitations allowed **] if you get stuck. There is no need to sign up for one of their monthly payment services. You just need the £2 file which will tell you all you need to know.
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