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Should I declare myself bankrupt?

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Comments

  • alastairq wrote: »
    hi...........no idea!

    However as long as the debt has been paid, the presence of the CCJ on your credit files [which seems to be the important thing to you?] really won't matter as much as you think, perhaps? As long as it is marked as 'satisfied?'

    I was under the impression that a 'satisfied' CCJ would still impact things like a mortgage application?

    Apparently it can increase the interest rate on any credit you want to obtain.
  • alastairq
    alastairq Posts: 5,030 Forumite
    I was under the impression that a 'satisfied' CCJ would still impact things like a mortgage application?

    Apparently it can increase the interest rate on any credit you want to obtain.

    Sorry, cannot help from experience there....still got to be better than a BR in the past?
    No, I don't think all other drivers are idiots......but some are determined to change my mind.......
  • alastairq wrote: »
    Sorry, cannot help from experience there....still got to be better than a BR in the past?

    Yes it would be better than that. I didn't realise that is stuck around on your record after it is discharged.
  • izools
    izools Posts: 7,513
    Combo Breaker First Post
    Forumite
    Oh it sticks around for far longer than discharge. Whilst a BR order drops off your credit file six years after inception, a record of the bankruptcy order remains in perpetuity in the London Gazette, which is also often referenced by lenders.

    You also have to declare to a lender when asked that you have previously been bankrupt - for the rest of your life.

    Finally, if you have £5,000 elsewhere to pay the CCJ you wouldn't qualify for bankruptcy anyway - you aren't bankrupt if you can afford your debt!

    Good luck with the set aside :o
    Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
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