BRU and life after it

aft1

Hello

I have posted elsewhere here and i am after further advice.

I have recently signed for a 7 year BRU instead of an 8 year BRO, my own fauly so i have no complaints.

My OR has informed me that after the 7 years the BRU shows as discharged on my credit file for 6 years more.

Has anyone completed their BRU and if so is the above correct ?

And also if i wanted to get a mortgage after 7 years am i right in thinking it will still be very difficult ?

AFT1

PixiePie

Sorry I can't help but wanted to bump you up, as someone who knows more than me might be able to help

shadowdragon

I would assume that your credit rating will be bad for six years after the BRU ends, as its an extention of the BR order so no AD after 1 year. (someone correct me if im wrong)

and tbh 7 years is a fair old whack into the future I wouldnt worry about a mortgage until nearer the time, lots can change from now til then.

dalip

Shadow i will correct you:p .
A bru/bro is just an extension of the restrictions which are in place during bc.
The bc person will still get AD after 12mths from the date of said bc, unless the OR applies a suspension of discharge and thats a totally different thing done for different reasons.D

k2nga

I thought i BRU was kind of seperate from the BR and so you would still have a clean sheet after 6 years.

dalip

THIS MIGHT HELP

http://www.insolvency.gov.uk/guidanceleaflets/bro/bro.htm