Post dro

andy19983118

Hi there.

I was just looking for some advice. I have had a DRO now for 2 years. I would like to know what happens after a DRO has expired, in terms of my credit file.

I recently went into a well known bank to try and get a basic no frills bank account, they showed me they could not progress as they held Credit Beureau information on file.

Once the five year period has expired an all of my debts have discharged, will this Credit Beureau information go?

IE once it is all over will banks and creditors know I have previously been bankrupt? or will it be like starting a fresh where I simply have not had credit previously and so my rating is not very good.

You see I desperately want a career change and the career requires me to make a substantial investment, which will be repaid in a structured manor. Obviously a bank will not accept any applications for credit now. But may they consider it, as any other person after the 5 year period.

Or do banks hold all of the Credit Beureau information on file for life, thus I cannot get any form or credit for life?

Kind regards,

Andy

fatbelly

The entry for DRO/bankruptcy drops off your CRA files six years after the date of the order.