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Newbie Question
AlexMetz
Posts: 134 Forumite
My bankruptcy finishes next March 2013 and I was wondering if when the bankruptcy finishes it is automatic and you can claim credit again - i.e. bank accounts etc..
2015 wins: Wasps vs Harlequins Rugby Tickets, Walk Among The Tombstone DVD, Hobgoblin 'Wych Brew are You' t-shirt, Leicester Tigers vs Gloucester Rugby tickets, Vodafone London Fashion Weekend Silver Tickets
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when did you go bankrupt?Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0 -
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Which country did you go BR in? In the UK a BR lasts 12 months.BSCno.87The only stupid question is an unasked oneLoving life as a Kernow Hippy0
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tigerfeet2006 wrote: »Which country did you go BR in? In the UK a BR lasts 12 months.
Well for some reason the BR was for 4 years and it was in the UK. So im wondering what happens after the bankcruptcy? How do I get a high credit rating?2015 wins: Wasps vs Harlequins Rugby Tickets, Walk Among The Tombstone DVD, Hobgoblin 'Wych Brew are You' t-shirt, Leicester Tigers vs Gloucester Rugby tickets, Vodafone London Fashion Weekend Silver Tickets0 -
If you went BR in 2010 and it's for 4 years then you're not discharged until 2014. It sounds as though there's been a BRO / BRU in place, but you're unlikely to get any credit until you're discharged at the very least.Feb 2024:
CC1 6537.66
CC2 7804.45
CC3 4221.17
CC4 2053.68
CC5 989.30
Loan 1 3686.44
Loan 2 5275.22
Total £30,567.920 -
According to If's response to a question yesterday, a BRO/U does not extend the discharge date. So it sounds like something happened which made the OR extend the BR year into 4 years, not sure what would cause that.
OP - have you checked the IS website to see if you are still listed on there?When I joined, I needed a name. The forum members gave one to me...I am INAN
"Fortunes ebb and flow and a boat must move with the tide and be thankful that it floats." Judith Allnatt0 -
wildheart83 wrote: »If you went BR in 2010 and it's for 4 years then you're not discharged until 2014. It sounds as though there's been a BRO / BRU in place, but you're unlikely to get any credit until you're discharged at the very least.
Whats a BRO/BRU?2015 wins: Wasps vs Harlequins Rugby Tickets, Walk Among The Tombstone DVD, Hobgoblin 'Wych Brew are You' t-shirt, Leicester Tigers vs Gloucester Rugby tickets, Vodafone London Fashion Weekend Silver Tickets0 -
Bankruptcy Restriction Order or Bankruptcy Restriction Undertaking. The undertaking is where you've accepted, the order is when the OR has applied to the courts and a judge has awarded it. It's like an extension of your BR, but as previously said, you're still discharged after 12 months, the restrictions are in place for an additional length of time.Feb 2024:
CC1 6537.66
CC2 7804.45
CC3 4221.17
CC4 2053.68
CC5 989.30
Loan 1 3686.44
Loan 2 5275.22
Total £30,567.920 -
wildheart83 wrote: »Bankruptcy Restriction Order or Bankruptcy Restriction Undertaking. The undertaking is where you've accepted, the order is when the OR has applied to the courts and a judge has awarded it. It's like an extension of your BR, but as previously said, you're still discharged after 12 months, the restrictions are in place for an additional length of time.
So if the restrictions are untill 2013, can i apply for credit once it has passed the 13th march 2013?2015 wins: Wasps vs Harlequins Rugby Tickets, Walk Among The Tombstone DVD, Hobgoblin 'Wych Brew are You' t-shirt, Leicester Tigers vs Gloucester Rugby tickets, Vodafone London Fashion Weekend Silver Tickets0 -
You'll need to find out firstly what it is that's in place until 2013. I'd find out what's going on with your discharge before you even think about applying for credit.
Secondly, you can apply for credit whilst BR, it's just that if it's over £500 you need to tell the lender.Feb 2024:
CC1 6537.66
CC2 7804.45
CC3 4221.17
CC4 2053.68
CC5 989.30
Loan 1 3686.44
Loan 2 5275.22
Total £30,567.920
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