When does Bankruptcy cease to be ' Relevant '.

steve4mandy

Hi all.

I went bankrupt in 2003, discharged in 2005 under the new rules.

I have followed the forum in recent years, succesfully cleaning my credit files etc, and since 2010 have been getting market leading current account,credit card & a Tesco loan, swapping credit cards, 'rate tarting' ( is that the term )?

The only drawback being having to confess my sins when applying for contents insurance, ( is my house more likely to get burgled because i was once bankrupt )?

We currently rent our home from the local authority, NOW for the main question, we would get a masive discount to purchase this house, but will i always have to disclose that i was bankrupt, ( i know about the London Gazette ),is this a life sentence or will at sometime the information time expire or cease to be relevant, like some spent criminal convictions.

For those of you just starting out on the bankruptcy road, follow the advice on this forum and you wont go far wrong!

dojoman

If you are asked if you are BR or have ever been BR, then you will always have to answer yes, there is no time limit to this question.

tigerfeet2006

As Dojo says I am afraid. Though saying that the further into the past your BR is and the better your handling of credit then the 'yes' answer becomes less relevant. So 9 years ago is not to bad really.

There is a good mortgage thread on here somewhere, give me a second to search for it.

Here we go https://forums.moneysavingexpert.com/discussion/2918012

iquit

Unfortunately unlike criminals we don't get a clean slate. Well done on maintaining a healthy financial status 9 years after br. Good luck with the purchase of your home.

4$£&*(£$&*(!

Your support (and everyone's) is invaluable to changing this for insurance. Please take a peak at this thread - https://forums.moneysavingexpert.com/discussion/4023711 - your support will be very much appreciated.