getting credit post br illegally

ccvictim

not after a lecture of whats right and wrong.
but do ppl apply for credit after release but still within your obligation period to inform.
just wondered if lenders check 100% of the time and what are the implications other than a refusal to lend if checked and found to be recently discharged eg?

skylight

Getting credit whilst BR is not illegal. Getting credit after discharge is not illegal either.

The only thing you HAVE to do, is declare that you are a BR (whilst a BR) if your credit is over £500. After discharge you don't have to say anything to anybody.

Any creditor worth their salt though will perform a credit check and your BR is listed upon it; and with that info alone they may or may not let you have any credit. But it certainly is not illegal.

So_Sad_Angel

ccvictim wrote: »

not after a lecture of whats right and wrong.
but do ppl apply for credit after release but still within your obligation period to inform.
just wondered if lenders check 100% of the time and what are the implications other than a refusal to lend if checked and found to be recently discharged eg?

Reputable lenders always check...but whilst undischarged you have a duty to inform the lender that you are BR.

Also (even after discharge) if you are EVER asked ` have you ever been bankrupt or entered into any agreement with your creditors` (that will include DMP/IVA) then you must answer truthfully.....otherwise it is deemed as fraudulent info ( material facts) therefore could be a brought as fraud case by the lender. This is particularly relevant in mortgage applications. Btw FSA regulation on the lender is very tight that these questions are asked in all mortgage applications.

Hope that helps,

Angiexx

skylight

Thanks SSA! I just assumed bog standard "credit" rather than mortgages and stuff.

coolcait

For the Scottish system, here's what the Accountant in Bankruptcy's website has to say:

"You must not:

• get credit for goods or services for more than £500 from any lender or supplier without telling them that you are bankrupt. You may be guilty of a criminal offence if you do not tell them;
• get any credit for goods or services without telling the lender or supplier that you are bankrupt if you already have credit of £1,000 in total. You may be guilty of a criminal offence if you do not tell them; ....

This is not a complete list of your responsibilities. Your trustee will tell you exactly what is expected of you. If you do not comply with your responsibilities, you may be committing a criminal offence under the Bankruptcy (Scotland) Act 1985 (as amended) and your trustee may report you to the Procurator Fiscal.
If you fail to co-operate with your trustee, they can also ask the sheriff to extend the period of your bankruptcy."

Lots of 'mays' rather than 'wills', but it's something to bear in mind.