bankruptcy - computer says no

holly_hobby

Yes of course payment is via the OR - apologies for confusion caused by not actively mentioning this in my post.

The seriousness of a BO can not be underestimated - in that to a potential creditor, the individual has effectively just walked away from the previous debts held at the time of the BO - its more a moral point of view than a legal one - and one lenders do look at.

Indeed FYI, various lenders (even before the recent tightening of criteria), would only consider satisfied BOs.

Satisfying a BO, is an approach taken to provide evidence to a financial provider of a responsible approach to debt and creditors, after effectively financial collapse and return to solvency (ie being in a position to finance the deposit for a mortgage). And is to give guidance to the OP on how they may take active steps to mitigate the impact of the BO with regards to financial applications - which will have a serious and far reaching impact on their financial status for some time.

Of course how they manage their financial history is their own choice, and they may well be successful with things as they stand, or may not .... I wish them well with the application in any event.

Holly