Bankruptcy

stcam

I went bankrupt in April last year, I believe that for the first year of Bankruptcy I must not apply for credit, I was fine with this but my car is on it's last legs, I cannot get to work without a car, so my question is will I ever get credit again, will I pay high interest for ever...... Any advise welcome

Thanks

Tixy

You would probably be better posting on the bankruptcy board for people who have been through bankruptcy to see your post and can offer practical advice on how they started to rebuild their credit rating. Bankruptcy & Living With It

Are you still bankrupt or have you been discharged early?
Are you paying an IPA as part of your bankruptcy?

You will struggle to get credit for the next few years at least (whilstever the bankrupty appears on your file so 6years from last April), and if you can get credit in that time it won't be cheap. You'll need to gradually rebuild your rating which takes time.
If you don't have an IPA are you in a position to be able to save enough money for a cheap runaround over the next few months?, to save getting back into debt again.

chalkie99

I think you can only apply for credit up to £500 without declaring your bankruptcy and, in any event, any lender is going to credit check you and I suspect you are pretty much between a rock and a hard place for the next 6 years at least.

My suggestion would be to ask this on the bankruptcy section as there will be many people there who have been in the same predicament.


* Edit* Was typing the same time as Tixy

nottoolate

stays on your credit record for 6 years. until it gone you will be refused or only be accepted for very subprime stuff.