Bankruptcy Credit Reference File Clean Up - Discussion

flipflopflo

matilda.cs said:

deliveryguy1 said:

i recently went Bankrupt  on the 29 JAN 2020   i had 3  credit cards  same provider which i was paying the minimum payment on till and beyond the 29 JAN 2020  i was getting bills after that date but was told not to pay them as i was bankrupt  about May  i informed  the card provider that i was bankrupt in the mean time from March 2020 with interest payments  had taken me over credit card limit  i phoned and explained they said they would a adjust figures back to JAN 2020  after checking credit file they changed the default payment from Feb 2020  to  the six months before my Bankrupt date  AUGUST TO JANUARY which i had paid  what should i do ? 

You need to contact your insolvency service (the people who dealt with you br initially) 
they will deal with it for you - AS LONG AS YOU INCLUDED THAT DEBT ON YOUR BR PETITION. 
sorry to shout, but that’s important. If you didn’t include them, you may be eligible for those debts still. 

So, assuming you included them, the debt didn’t exist after 29th January and fees before or after this debt no longer exist either. 

Don’t panic, though. As long as you included them, you’ve got nothing to worry about. 

@deliveryguy1 don't worry about your credit file yet. This is a job for after discharge. You give the creditors a couple of months to sort it out and then you start bugging them to correct the information.

@matilda.cs YOU ARE INCORRECT AND DON'T KNOW WHAT YOU ARE TALKING ABOUT. In bankruptcy all debts except a very small minority are included whether they are written on the application or not. This is what makes it such a nuclear option. If you are thinking of a DRO then indeed only the debts on the application are included.

matilda.cs

flipflopflo said:

matilda.cs said:

deliveryguy1 said:

i recently went Bankrupt  on the 29 JAN 2020   i had 3  credit cards  same provider which i was paying the minimum payment on till and beyond the 29 JAN 2020  i was getting bills after that date but was told not to pay them as i was bankrupt  about May  i informed  the card provider that i was bankrupt in the mean time from March 2020 with interest payments  had taken me over credit card limit  i phoned and explained they said they would a adjust figures back to JAN 2020  after checking credit file they changed the default payment from Feb 2020  to  the six months before my Bankrupt date  AUGUST TO JANUARY which i had paid  what should i do ? 

You need to contact your insolvency service (the people who dealt with you br initially) 
they will deal with it for you - AS LONG AS YOU INCLUDED THAT DEBT ON YOUR BR PETITION. 
sorry to shout, but that’s important. If you didn’t include them, you may be eligible for those debts still. 

So, assuming you included them, the debt didn’t exist after 29th January and fees before or after this debt no longer exist either. 

Don’t panic, though. As long as you included them, you’ve got nothing to worry about. 

@deliveryguy1 don't worry about your credit file yet. This is a job for after discharge. You give the creditors a couple of months to sort it out and then you start bugging them to correct the information.

@matilda.cs YOU ARE INCORRECT AND DON'T KNOW WHAT YOU ARE TALKING ABOUT. In bankruptcy all debts except a very small minority are included whether they are written on the application or not. This is what makes it such a nuclear option. If you are thinking of a DRO then indeed only the debts on the application are included.

Well there you go, I’ve certainly been told... 
Best scupper off and sit in the corner of shame. 

matilda.cs

And it can make a huge difference to the legitimacy of your petition. 

If you go bankrupt and forget to mention a £10k gambling debt, you might have problems. But in these circumstances, I stand corrected. 

flipflopflo

Sorry was only using capitals as you were. I didn't mean to upset you. If you were to forget to mention a gambling debt and the OR discovers it when looking into your BR then they can issue a BRO/U which will lengthen terms of BR for between 2 and 15 years though you are still discharged after 1 year. But whether found or not they are included in the BR petition.

deliveryguy1

i did INCLUDED THAT DEBT ON YOUR BR PETITION.  but i was paying payments minimum payments on cards in advance so no payments were due till march 2020 so am i best waiting till  After 29th January 2021 Before i contact credit agency also what happens over the house i have a joint mortgage the house is worth no more than 80k there is 30k outstanding ?

iwishidbeenmoresensible

Man alive, I'm so confused!
I was declared bankrupt in June 2017 and discharged June 2018. Most of my accounts on my credit report show as "last updated" between May and November 2018. The "default date" on most of them shows as sometime in 2016.
I get that my bankruptcy will stop showing June 2024 (I think), but when will the defaults on the accounts stop showing? I've added a couple of screenshots from my report so hopefully this makes sense. Any help y'all can give explaining would be super appreciated as I just don't get it!
Thanks!

sourcrates

iwishidbeenmoresensible said:

Man alive, I'm so confused!
I was declared bankrupt in June 2017 and discharged June 2018. Most of my accounts on my credit report show as "last updated" between May and November 2018. The "default date" on most of them shows as sometime in 2016.
I get that my bankruptcy will stop showing June 2024 (I think), but when will the defaults on the accounts stop showing? 

Hi,
Its very simple, defaulted debts show for 6 years on your credit file.

Your Bankruptcy will show till June 2023, your defaults will drop off your file on the same date, unless any of the accounts defaulted prior to bankruptcy, in which case 6 years after the date of default.

For example the PRA debt above, defaulted 30/03/2016 will drop off your file on 30/03/2022.

Morfx

Evening,
  Discharged on Monday!! 😊😊
How long should I leave it before getting copy's of my credit reports and going through the clean up process?

Joydeep

Morfx said:

Evening,
  Discharged on Monday!! 😊😊
How long should I leave it before getting copy's of my credit reports and going through the clean up process?

Hi Morfx, sign up to Credit Karma and/or Clear Score. They both have apps and are free. Check all the debts on your report are defaulted / partially settled on the same date as your bankruptcy. If they are then you will have nothing to do and wait 5 years for everything bad to drop off (6 years from the date of your bankruptcy). If there are accounts showing unsettled then you can contact them with copies of your bankruptcy and discharge certificates to mark them as satisfied / partially settled with the same date as your bankruptcy. That’s the only clean up that’s required. 

Final but of advice is to try and get yourself a credit card (to help you start building up credit worthiness). There are a few cards out that can help you but they have high APR. Just use the card to make purchases and pay the balance each month therefore building your credit worthiness. Over time your credit limit will increase and your when your credit file is clean in 5 years, you’ll be in a good place with the new credit history.

Few tips, don’t miss any type of payments / direct debits going forward and ensure you’re on the electoral roll to further strengthen your file. Hope this all helps!

luvchocolate

Give it about 3 months to give them time to update. 
Check the IS site click on your name and status should show discharged. 
Print of a copy for reference..it's only there for  3 months