5 years post bankruptcy...

girlinabox

Hello everyone,

Hope you can assist with some advice/information

I went bankrupt in October 2006, discharged in April 2007, my financial situation now is a complete contrast to how it was back then however I still cannot even get a simple bank account (current account). I have a cashminder account with the Co-Op but find this really has it's limits (by the way I am not looking for anything with a lending facility!)....in addition to this I decided this year that I would pay my car insurance by DD....that is, of course, until I tried to and was told it had been declined by Equifax who were recommending that they ask for payment up front! Since this is not the first DD I have had since bankruptcy (I had one with Cineworld for my cinema card for a couple of years) I was quite shocked...so now I have signed up to a free trial with Equifax to try and see if this is anything I can sort out.

Does anyone have any advice to offer in this respect or am I just not going to be able to get ANY form of 'credit' until the full 6 years are up? Or am I being too niaive (even after 6 years I might not get credit?)?

Equifax are asking me to answer all sorts of questions before they will set me up an online account (about store cards I had in 2005 and the limit?!)...

Just feel a bit lost at the moment and it's not easy when you can't just pick up the telephone and ask someone like Equifax..

nonnatus

How odd!

After I had been discharged for four years I started to slowly approach financial normality again.

I had opened a Nationwide basic account the day after I went bankrupt, no problem. So at 4 years, I opened a Co-op cashminder which came with a debit card (Brilliantly) but no overdraft, which is something I never want again anyway!

I got a mobile phone contract (and now have three!), opened a catalogue account (paid off in full every month) and applied for Capital One credit card. The application was rejected but I appealed in writing and got a credit card with a small limit. That limit has now increased to £4000.
I then bought a DFS sofa on interest free credit, feeling certain I would be rejected, but that went through fine and I finished paying that last year.

So there must be something worrying on your credit reports that hasn't been taken care of properly by the bankruptcy? It's probably a clerical error and when sorted, you'll be on your way.
Hope you spot it quickly x

wildheart83

I would echo what nonnatus has said. Have you cleaned up your credit file, so that all your default dates are within your BR?
Go through your credit file with a fine tooth comb and if there's anything you're unsure about then please do ask

wannabehermit

Yes you definitely need to get it cleaned up, there is a number somewhere on the equifax site, it's quite a pain to find iirc. The credit file clean up thread is great, talks you trhough every step and has template letters.

I had a DRO in 2009, discharged in 2010, but this stillhas the same limitations as full BR. My mobile is on contract, although was with Orange for some time before so that may be why I've had no problems with upgrading contracts with them. But I have had no problem obtaining car insurance or contents insurance. Both of which I pay monthly, as I do my Green Flag. TBH I haven't yet tried anything else, but I was surprised a few weeks ago when someone else posted that they'd been unable to get car insurance paid monthly because of their credit history.

girlinabox

Hello and thanks for your replies :-)

So...I finally managed to prove to Equifax that I am who I say I am....and have had a little look at my free credit report :eek:

Now, all this information where it says I defaulted etc in red, there is a little button which says you can click if you think the information held there is incorrect...am I doing that or do I need to instead follow the instructions in the 'credit file clean up' thread?

*confused*

Thanks everyone!

wildheart83

Are the dates of your defaults correct? The theory is that when your BR falls off at the 6 year mark then so do the defaults that were included in your BR.
If they're not then you're far better to write to each of the companies directly (as in fermi's links)

Equifax often refer you back to the creditor for this. Make sure you send the letters recorded delivery as well

girlinabox

Well, firstly there are only default dates on some of them. Others there is no date. The couple where there are dates they are within a few months of me going BR...I don't know what the dates are meant to be.

For each one it states a balance under default/delinquent balance.

I'd scan it in but it says here that I can't post attachments.

EDIT:

Just looked again and all apart from 2 are showing as settled with a balance of 0.

RBS says D in red and a default of £2942
O2 (communications) says D id red and a default of £333

However all the other state a balance of zero and say they are settled.

taffy056

You are looking at the default dates, they should be prior or at the same date as banruptcy, you need to clear that up, but your bankruptcy comes off in 6 months or so , so make sure that comes off as well in due course

girlinabox

taffy056 wrote: »

You are looking at the default dates, they should be prior or at the same date as banruptcy, you need to clear that up, but your bankruptcy comes off in 6 months or so , so make sure that comes off as well in due course

Hi and thanks for your reply.

The dates are a couple of months prior to going BR.

I went BR in Oct 2006 so in ctober 2012 will all of these previous credit defaults etc be wiped off or will they still show? Or will the ones that say settled stay or b wiped?

It's the big red letter D I find a bit scary!

Sorry a lot of questions I know but I need to know how to get my credit histry looking ok again as not being to have a normal bank account or direct debits is quite limiting,

Wonder what made my car insurance refuse me a direct debit?

wildheart83

All defaults will disappear 6 years from the date they were applied to your credit file. So if they all show a default date on / around / prior to your BR date of October then they will be wiped.

I know it sounds harsh but try not to get too caught up on the big red D!

Are you on the electoral roll at your current address? Have you made sure your name / address / dob etc are correct? The defaults shouldn't prevent you from being able to have DDs set up.

FWIW I've had DDs running for my phone bill and car insurance throughout my BR, have also kept my original O2 account throughout BR and was accepted for t-mobile sim only and a vanquis credit card within a couple of months of my discharge.

girlinabox

Thanks again for your helpful reply :-)

I am on the electoral roll and all of my details are correct.

I really don't understand why then, I am struggling so much even for a lousy direct debit.

Can any of these agencies tell me why? Or maybe Citizens Advice?