cons to being BR

GEEGEE8

The stigma of being a bankrupt is hard to swallow sometimes.

Getting credit for a much needed car or important purchase, washing machine etc.

But generally speaking it's been the best thing for me, and also never had any problems with insurance at all.

3yrs out and I have two start up credit cards with small limits, and a phone contract, so it's not all bad for the whole 6yrs.

crisispoint914

unfortunately I am still feeling a bit of an ostrich I keep lifting my head have a mooch around and then put it back I need to get this sorted but still a bit scared.

Angiepange

crisispoint914 wrote: »

unfortunately I am still feeling a bit of an ostrich I keep lifting my head have a mooch around and then put it back I need to get this sorted but still a bit scared.

Aw I know how you feel, it is scary, but at least you are taking those first positive steps to resolve your situation.

I dealt with it all by gathering as much info as I possibly could. I spoke to all the debt charities and of course this site is a lifesaver. Keep asking questions and you will get lots of support here.

Good luck

dojoman

AllNancy wrote: »

Never had a problem getting any type of insurance. BR was never mentioned. Also the same with BT etc etc. Only problems with banks so went to the Coop and Tesco who STILL won't take the debit card on line Grrh!

Have you checked the T & C of your insurance? I was verbally told by my insurer that BR did not matter, but when I checked the T & C there was a clause in it about BR so I changed insurers to be on the safe side. Also I can now use my Coop Visa Debit card with Tesco on line without any problems.

JPS29

Above X2 ^^^^^^

I have been told countless times that due to the BR being discharged it didnt matter but the T's and C's state otherwise.

Always best to double check.

Classylady2010_2

To me, personally, my peace of mind has outweighed any problems Ive had with insurance etc
classy

southgrange

What do you mean about number 4?

dojoman wrote: »

1, No access to credit (although this
may be a good thing)

2, No access to a bank account with a cheque book.

3, Possibly having to answer to the OR for 36 months if you have an IPA.

4, Trouble getting insurance.

There are others but these spring to mind.

The_Miser

Bankrupt ..................... Direct debits for insurance ..............how come? Your assets are supposed to be under the control of the receiver so you shouldn't even be able to sign on a bank account. You ARE allowed to retain the "tools of your trade" up to a certain value (used to be £50) but not much else!

philnicandamy

Your allowed a BASIC bank account in bankruptcy.....

bit of reading here

http://insolvency.gov.uk/bankruptcy/whatisbankruptcy.htm