What was the worst thing to happen to you after bankruptcy?

jedi82

I am finding the best/worst thing is not having a credit card for emergencies. For example our car is about to die and as we only went br in aug we haven't had time to save up a 'car emergency fund'. Before, this would have gone on the credit card.

However, the feeling of not having a credit card is absolutely 100% better and although the next couple of months are gonna be hard, I wouldn't change what we have done for anything.

Jedi x

princess1984

I agree with the above post, it's hard adjusting to life without credit when that's all you've known. However I do love living to my means rather than racking up more debt.

For me, I also found that being bankrupt made a house move fall through for us. We told the letting agent I was bankrupt, she said it would be ok if she only credit checked my husband but didn't tell her colleagues, so when she was off work and a collegaue checked the paperwork and delved into why I hadn't been credit checked, we lost the house two days before we were due to move.

That, for me, was the worst feeling - knowing my carelessness with money cost me and my family a home in the local area. We're now 15mins drive from our hometown and travel there and back several times a day for school drop offs/pick ups. It sucks.

WLITC

I'd say pretty much nothing that bad .. like Jedi mentioned above, I guess the only thing negative I have experienced to date is not having access to credit in emergencies.

Really had to scrape by the past two weeks because of poor money management this month. Normally in the past if I had a bad month (over spent) I would just use one of my credit card or up the overdraft. However, although the past week has been frustrating, its been a good lesson about managing my food/spending money better.

Doucam

Agree with what others have said - not having credit to fall back on in times of need, I have found budgeting very hard and have had to fall back on the generosity of my parents a few times which I hate, but they have been great as they know what we have been through.

And the guilt, when we took out credit we fully believed we would be able to pay it back, I never ever thought I would end up in this situation, but as time passes I feel better about it in a way, or at least it isn't on my mind 24/7 anymore.

Other than that the relief of no debts and not getting nasty letters through the post or 10+ calls a day from creditors. Not laying awake at night wondering who to pay what to, and what to tell the ones we can't pay far outweighs any of the above tbh, if it is the right thing for you to do then do it. x

Costus

Bad points -

1 Difficulty moving house through lettings agents, most are anti BR's
2 Unable to get a mobile phone contract
3 Unable to get a loan for a new car
4 Co-Op Electron card occasionally get refused for no reason
5 Certain home insurance companies refuse to insure you
6 BR stigma


Remedies -


1 Rented our house privately
2 Got my Dad to get a mobile phone contract for me
3 Joined a credit union and i am nearly there with the money for a new car
4 We pay cash for almost everything, that way we are more in control of our cash
5 Shopped around and checked out home insurance on MSE, and saved a fair bit on our premium
6 I have broad shoulders and my sanity :laugh:

terryl

good points
not being afraid what the postman brings

bad points
not being able to splash out on the grand kids

credit cards should be made illegal LOL