Finally it's finished :)

My BRU was removed from Experian overnight. My useless Experian score when up by 325 :rotfl::rotfl: my bankruptcy was removed last December.

I applied for a regular TSB current account, it wasn't declined but I have to wait for them to do more checks. Fingers crossed that goes through ok.

It's been a long 6 years and 10 months but I'm glad it's over with. I'm glad I can finally move on with my life and not have to worry about it anymore! It was the best thing I've ever done but it's a decision not to be taken lightly. :T:T

Comments

  • alltaken
    alltaken Posts: 452 Forumite
    Thanks for all of your advice and time, you have helped many directly and no doubt many more passively.
  • A4445
    A4445 Posts: 1,103 Forumite
    That's nice of you to say, I will be sticking around to try and continue to offer help :):)
  • A4445
    A4445 Posts: 1,103 Forumite
    edited 15 October 2016 at 3:55PM
    I changed my mind about account bank accounts and ended up going with nationwide instead they approved straight away for a Flex account. I've gone for the 7 day switch so my Co Op cash minder will be closed. Glad to be shot of the Co Op they haven't been very good, they wouldn't even give me an ISA.
  • enthusiasticsaver
    enthusiasticsaver Posts: 15,445
    First Anniversary First Post Name Dropper I've been Money Tipped!
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    Glad you can move on with your life now and for the words of caution to those who think bankruptcy an easy option.

    What would you say has been the worst/most inconvenient thing you have found about going bankrupt?

    What are your financial plans now for the future?
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
  • A4445
    A4445 Posts: 1,103 Forumite
    For me it was the best option with £70k of unsecured debt, I was young and very stupid. Being bankrupt tought me how to manage my money correctly.

    The worst thing for me about being bankrupt was credit searches for jobs especially with the BRU, it hasn't been an issue but it's put me off applying for some jobs. Now I feel free to apply for any job.

    I already own a home, the mortgage is currently in partners name but we are hopping to move in the next few years and get a joint mortgage, we have quite a lot of equity in the house so at least a 30% deposit for the next mortgage.

    I still feel guilty that the whole 70k was written off, I wasn't subject to an IPA and very surprised how forgiving lenders are. I've got credit cards, mail order accounts and a mobile contract. I'm happy to say I owe nothing and always pay my cards in full every month, it's been a hard lesson learned and won't make the same mistake again.
  • enthusiasticsaver
    enthusiasticsaver Posts: 15,445
    First Anniversary First Post Name Dropper I've been Money Tipped!
    Ambassador
    Hard lesson to learn but you aren't the first to make mistakes with money and won't be the last. I wish you a very happy and debt free (apart from mortgage) future.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
  • A4445
    A4445 Posts: 1,103 Forumite
    Hard lesson to learn but you aren't the first to make mistakes with money and won't be the last. I wish you a very happy and debt free (apart from mortgage) future.

    Yes your right, I guess now it's finally been removed from Experian I can put it behind me and move on. :):)
  • Congrats A4445, and I think that's the key, all of us here have learned a hard lesson xx
  • A4445
    A4445 Posts: 1,103 Forumite
    Congrats A4445, and I think that's the key, all of us here have learned a hard lesson xx

    Yes hard lesson learned, but for those currently being effected by bankruptcy/BRU there is light at the end of the tunnel. :T
  • AndyBSG
    AndyBSG Posts: 986 Forumite
    edited 18 October 2016 at 3:31PM
    A4445 wrote: »
    I still feel guilty that the whole 70k was written off, I wasn't subject to an IPA and very surprised how forgiving lenders are.

    You make it sound as though they're being benevolent and caring by 'letting you off' :)

    Far from it, they just know that there's nothing they can do once the OR is involved and they more than make up for your shortfall elsewhere at other people's expense.

    Your BR journey seems similar to mine. I racked up lots of debt in my early twenties due to stupidity/naivety/arrogance(actually astounded by how much banks gave me on CC's at the age of 20 with almost double my annual salary spread over 3 cards).

    Also found the hardest thing was the impact that BR has had on my career with some jobs in my field now completely off limit and it is the one think that looks like it will now be with me for life.

    I also went with Co-Op banking and switched to Nationwide once my 6 years was up.

    Have to say Nationwide have been great and even getting a mortgage with them just a year after my 6 year period was relatively painless
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