Discharged! A few questions on credit file clean up

Starry-eyed

No longer relevant.

tigerfeet2006

You really ought to give it a couple of months before starting this to give your ex-creditors time to do the job themselves. Some might and some might not but you could save yourself some work.

Ineedaname

I agree with Tigerfeet, even the IS hasn't updated your file yet as it's only been 3 days and two of those were a weekend!

Can you not cope with a cheaper car for the next few years? Why would you want to put yourself in debt immediately after discharge? If you do succeed I reckon you'll be stung heavily on interest rates.

dojoman

As Tiger has said it is better to wait at least a couple of months before doing your "clean up".

As for getting any finance, your chances are slim to none unfortunately.

JCS1

Begbies Traynor are (amongst other things) an IP so were probably checking your debts and also seeing if you had any property at the land registry too.

uglysmithy80

Starry-eyed,

Can i ask you some question please, i am not sure what this discharge means >?? it that when you stop paying money back? how did you find paying your surplus money back ? where they generous in what you can claim as every day living ?

Can you help me please ?

FuzzyCub

uglysmithy80 wrote: »

Starry-eyed,

Can i ask you some question please, i am not sure what this discharge means >?? it that when you stop paying money back? how did you find paying your surplus money back ? where they generous in what you can claim as every day living ?

Can you help me please ?

Being discharged from BR is usually automatic and happens 12 months on from your day in court. Being discharged releases you from your debt liability and your banckruptcy restrictions. The OR uses the time between BR and discharge to investigate your affairs and the reasons for bankruptcy. Your contributions under an IPA continue for 36 months i.e. after your BR. The OR can discharge you early if they have completed their work and they have time to file for Early Discharge. This is not guaranteed. An IPA will be agreed before discharge if you have a surplus of over £20.

Have you contacted one of the debt charities yet for some advice?

Look at this sticky for a summary of what you could expect.