Advice needed - Bankruptcy was 6 years ago yesterday, what to do next?

Dan_F

Hi all,

Long time reader first time poster! I'll apologise straight off the bat, I know how forums work and I'm sure that this sort of thing has been posted in the past. I've tried looking through the forum and a quick search and I can't find the answer to what I'm asking exactly, so I'm hoping some kind soul will help me out.

It's pretty much what it says in the title - yesterday saw the six year mark to when I was first declared bankrupt. Am I right in thinking that this now means I can go ahead and get my credit file cleaned up now if there're any "issues" still on it when I request a copy? I've read the instructions in the sticky so think I'm OK on doing that I just need a clarification that now's the time. If it helps, I was discharged on April 1st 2005.

Another thing, if indeed I can have my credit file cleaned, do I have to still state that I was declared bankrupt when applying for bank accounts etc.? I assume I do, but worth asking whilst I'm on.

Thanks for reading, and thanks for any help in advance. :beer:

So_Sad_Angel

Dan_F wrote: »

Hi all,

Long time reader first time poster! I'll apologise straight off the bat, I know how forums work and I'm sure that this sort of thing has been posted in the past. I've tried looking through the forum and a quick search and I can't find the answer to what I'm asking exactly, so I'm hoping some kind soul will help me out.

It's pretty much what it says in the title - yesterday saw the six year mark to when I was first declared bankrupt. Am I right in thinking that this now means I can go ahead and get my credit file cleaned up now if there're any "issues" still on it when I request a copy? I've read the instructions in the sticky so think I'm OK on doing that I just need a clarification that now's the time. If it helps, I was discharged on April 1st 2005.

Another thing, if indeed I can have my credit file cleaned, do I have to still state that I was declared bankrupt when applying for bank accounts etc.? I assume I do, but worth asking whilst I'm on.

Thanks for reading, and thanks for any help in advance. :beer:

Hi Dan....think theres only me around at the moment but wanted to say welcome!!

Don`t know about the credit file clean up...I dare`nt actually request mine!!:eek: :eek: but get a copy & start from there.

In terms of `that` question then the answer is `yes` you must always answer truthfully when asked on any application form. It is a material fact & as such could effect the outcome of any application or cover (esp insurance). If you do not disclose when asked then it can be seen as potential fraud.
I was a mortage advisor in a past life & this was one of the questions that we had to check that the applicant understood fully what we were asking!!

HTH`s

Angex

Ps...I used to work in B on T !!!

Dan_F

Thanks for that - like I said, assumed I'd have to and certainly wasn't planning anything fraudulent - you never know though, I don't know what the rules are exactly now, it all seems to have changed from what I was told when I declared.

I know what you mean about not daring, I'm certainly hesitant - but I've done next to nothing for six years with it (applied once for a Capital One after discharge, turned down and twice to up my Nationwide flex to a debit, both turned down and that's everything) so I'm sure I can get anything major removed (if it's still there even).

Oh and used to work is better than used to live, you're lucky

So_Sad_Angel

Dan_F wrote: »

Oh and used to work is better than used to live, you're lucky

:rotfl: :rotfl: :rotfl: hehe it was`nt so bad...just remember the brewery as I drove down the A38 !! ...Derby is a lot worse!!!:D

Dan_F

Don't mind Derby normally. Well, most of it. OK, some of it

Oh and if there's any other advice you or people can give I'd appreciate it. I never want to "borrow" again. But I'm a realist and I know that to ever stand a chance of having a mortgage or credit for important items I'm going to have build my credit score back up so I'm planning on getting a debit card to make the purchases I do normally on, and a credit card to put things like petrol & business expenses on (but paid off in full each month, and with as low a credit limit as they'll let me have, say £200ish) - if anyone's got any recommendations that'd be great.

So_Sad_Angel

Have you considered a pre pay card....Virgin mastercard is what I use...just load it up with the £200 rather than borrowing & pay it back. ( no monthly fee & small transaction fee...but much cheaper than credit card!!).
Will give you the flexibility for stuff like petrol / online etc but looks exactly like the virgin credit card. Also there is online statements. Paypal also do a prepay & thats as good. Neither have credit scoring !

Mine is my emergency fund !

Dan_F

Thing is though, I want to build a credit score - so with no credit scoring I could just do what I do now and get the money out of a cash machine with no fees at all! I'm used to no credit, or not paying with cards, so if I get one it has to be a means to an end, and that end is having a credit score that'll help me get the essentials in the future.

Waspeze

I'm here too (not for long though )

Any sort of credit at the moment will be hard.. aqua and vanquis do do credit cards for people with adverse credit (they have stupid interest rates!) .. you won't be able to get one until your credit file is "clean" though and may have to push for one.

Mortgages.. again there are companies that will do them but usually they give you one at a stupid rate for a year or two until you "prove" yourself credit worthy... it's hard but there are ways to do it if you're prepared to pay over the odds for a while.

Dan_F

Cheers for that. Like I say, I want to get hold of my credit file and get that cleaned up before I proceed with anything - apologies if that wasn't clear though.

And a mortgage is way down the line, we're still saving a decent deposit. But when I do, I want to at least have a reasonable (as much as it can be if you know what I mean) credit history.

So_Sad_Angel

Waspeze wrote: »

I'm here too (not for long though )

Any sort of credit at the moment will be hard.. aqua and vanquis do do credit cards for people with adverse credit (they have stupid interest rates!) .. you won't be able to get one until your credit file is "clean" though and may have to push for one.

Mortgages.. again there are companies that will do them but usually they give you one at a stupid rate for a year or two until you "prove" yourself credit worthy... it's hard but there are ways to do it if you're prepared to pay over the odds for a while.

Gosh Waspy...how late /early is this ???!!! Hope you`re OK ...don`t see much of you these days!

Waspeze

your best bet really is clean your file as per the sticky above then take small steps.. like for example a contract phone then a crap card etc etc..