5 years post bankruptcy

davescot691 · 30 September 2016 at 8:00PM

Hi All,
just wanted to share my experiences post b/r with you. there is light at the end of the tunnel! I was made bankrupt in june 2011 and am now in a house that I managed to secure a mortgage on in april this year. I have a credit card with a large credit limit and never missed a payment. crucial to getting yourself clear is to tidy up your credit file and be persistent. I had 15 creditors initially, one ccj and of course my bankruptcy. now the only thing left on there is my bankruptcy which will drop off around july next year. chin up....it gets better!

willbr · 30 September 2016 at 8:47PM

I was discharged today and I already see light at the end of the tunnel!!! There where ups and downs through last year but people here were extremely supportive when I needed it and big thank you for that. I want to secure a mortgage at least after four years and people were talking here that Nationwide (me thinks

) lends after three years. I have a plan in my mind and if I will be successful with it I will be proud home owner in four years. It definitely gets better and actually it gets better from day one you are bankrupt. So everybody who are on undischarged bankruptcy or who just thinking to go this way be sure that worst times are in the past and it can get just better and better.

betterdaysahead · 4 October 2016 at 10:25PM

davescot691 wrote: »

Hi All,
just wanted to share my experiences post b/r with you. there is light at the end of the tunnel! I was made bankrupt in june 2011 and am now in a house that I managed to secure a mortgage on in april this year. I have a credit card with a large credit limit and never missed a payment. crucial to getting yourself clear is to tidy up your credit file and be persistent. I had 15 creditors initially, one ccj and of course my bankruptcy. now the only thing left on there is my bankruptcy which will drop off around july next year. chin up....it gets better!

Congratulations! Do you mind me asking who you went through for your mortgage and how much of a deposit you had compared to the cost of the property? Did you manage to get a competitive rate or is it much worse as a result of the bankruptcy?

The_Real_Cheddar_Bob · 5 October 2016 at 9:35PM

betterdaysahead wrote: »

Congratulations! Do you mind me asking who you went through for your mortgage and how much of a deposit you had compared to the cost of the property? Did you manage to get a competitive rate or is it much worse as a result of the bankruptcy?

Mines 25k on a 140k house. 2% and with accord mortgages ( Yorkshire building society)

dippyjones · 5 October 2016 at 11:05PM

Wow! That really is a light at the end of the tunnel! Well done you! x

davescot691 · 11 October 2016 at 6:49PM

Hi betterdaysahead....i managed to secure a mortgage with a 15% deposit with principality building society through a broker at a very competitive interest rate in a 2 year fixed deal

ukamber1 · 27 October 2016 at 3:34PM

davescot691 wrote: »

Hi betterdaysahead....i managed to secure a mortgage with a 15% deposit with principality building society through a broker at a very competitive interest rate in a 2 year fixed deal

EDIT: Just read users are not allowed to recommend brokers on website!;)

Sorry for asking!

dippyjones · 30 October 2016 at 5:34PM

Wow!! This is inspirational. I know for us, it would be the 'security' of knowing when we need to upgrade things, its not worrying about finding money for yet another second hand piece but if we wanted to get a new sofa/TV/appliance, we can get a CC or next account. Or get decent finance or a decent car (perhaps even a brand new one &#55357;&#56882;)

But that is way down the line for us. For now, it's getting all our ducks into a comfortable and routine line....

Thanks for sharing the light at the end of the tunnel! x

5 years post bankruptcy

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free