BI in property - What is 'Next Step'?

silkglade

allofadither wrote: »

I am particularly interested to see how you attempted to repair your credit rating. To be honest, I hadn't considered this at all, too early in my own BR. But please tell me this isn't the ONLY way to repair a shattered credit record. I mean, having to get another credit card(s) as a means to getting a mortgage or a proper bank account just seems plain stupid.. that's asking for trouble. I personally don't want another credit card but I do ultimately want my credit record to be 'clean', especially if I want a mortgage in the future.

Remember that 3 years after your bankruptcy is over that all the debts included in the bankruptcy will be removed from your file, if they havent, phone equifax or experian (or both if needed) and they will sort it out for you.

Also remember to get the OR to send you a letter of discharge with the date of discharge on it, photocopy it and send it to Experian and Equifax as that is the proof they need. It will then automatically "drop off" your credit reports.

The hardest part is getting the first YES, from then on it is worryingly easy.

I tried to get a normal bank account, but with no credit history got refused everywhere. had a Halifax (basic) cardcash account but could not do anything else. got refused for credit cards too, but when I spoke to the guy at Capital One, when i applied for a classic card and got refused again I said to him "what can i do, i'm trying to start getting a credit history and i get refused by everyone for the same reason" he told me to apply with them again but this time for a guarenteed card they will get you to pay between £50 and £200 up front in case you don't pay. well i applied and got a classic card!

It only had a £200 limit, and still has. you don't have to start getting into debt again, even if you just buy 1 of your normal outgoings on it each month and pay it off in full (like it's a debit card) that was the way we dealt with it. Just make sure you never go near or over your limit. It then gets you a credit history! after 6 months we got accepted for a flex acc, with overdraft (we never use it, but it's there for emergencies) even though we had to tick the (have you ever been bankrupt) box. Then you can throw away the credit card :T

Hope you find this useful

Sooty0404

Jane_East_Yorks wrote: »

Sooty,

You sweep me off my feet sometimes with your faultless rational logic and poetic eloquence. You've made all Rog's problems seem as simple as you did mine.

Jane xx

That's me - simple!

allofadither

silkglade wrote: »

Remember that 3 years after your bankruptcy is over that all the debts included in the bankruptcy will be removed from your file, if they havent, phone equifax or experian (or both if needed) and they will sort it out for you.

Also remember to get the OR to send you a letter of discharge with the date of discharge on it, photocopy it and send it to Experian and Equifax as that is the proof they need. It will then automatically "drop off" your credit reports.

The hardest part is getting the first YES, from then on it is worryingly easy.

I tried to get a normal bank account, but with no credit history got refused everywhere. had a Halifax (basic) cardcash account but could not do anything else. got refused for credit cards too, but when I spoke to the guy at Capital One, when i applied for a classic card and got refused again I said to him "what can i do, i'm trying to start getting a credit history and i get refused by everyone for the same reason" he told me to apply with them again but this time for a guarenteed card they will get you to pay between £50 and £200 up front in case you don't pay. well i applied and got a classic card!

It only had a £200 limit, and still has. you don't have to start getting into debt again, even if you just buy 1 of your normal outgoings on it each month and pay it off in full (like it's a debit card) that was the way we dealt with it. Just make sure you never go near or over your limit. It then gets you a credit history! after 6 months we got accepted for a flex acc, with overdraft (we never use it, but it's there for emergencies) even though we had to tick the (have you ever been bankrupt) box. Then you can throw away the credit card :T

Hope you find this useful

It is useful, but also a bit worrying. It seems like credit cards rule the world, but I'll cross that bridge when I come to it.

I thought the BR stayed on your credit file for 6 years, but if it's 3, then all the better.

Thanks silkglade!

silkglade

Thanks Mike

I really feel for all of you and can honestly hand on heart say I know what your all going through.

If I can say anything on here to make it a little easier for any of you by sharing my own experiences with you all then I am a very happy bunny.

I like helping others, and any of you are more than welcome at any time to contact me for advice or even just to help you realise the light at the end of the tunnel. I have now (within the last 2 weeks) had my mortgage agreed by the way.

silkglade

allofadither wrote: »

It is useful, but also a bit worrying. It seems like credit cards rule the world, but I'll cross that bridge when I come to it.

I thought the BR stayed on your credit file for 6 years, but if it's 3, then all the better.

Thanks silkglade!

It's just a stepping stone. not a permanent thing, for me though I got a bit obsessed with applying for them. didn't need all of them. I'ts very worrying - I now after just over a year of getting my 1st card have the potential to be £8,300 in debt, includes 4 credit cards and overdraft. but will have NO debt in 3 months.

For us it was 9 years ago and therefore 3 years when bankrupt and 3 years once discharged. the credit check agencies will know, you could call them and ask.

Richard_S

Rog,

It's obvious by your posts that you've helped an enormous number of people on this site and you should be proud of doing so.

You are facing a really difficult situation that is obviously causing you a great deal of concern and understandably so. I've "beaten around the bush" on this thread and made suggestions rather than offer solutions. Sooty has articulated what I was reluctant to say in a most concise and accurate manner; he's a lot older and more confident than me :rotfl:

There are very few people in this world that I would take any notice of at all, but if Sooty had disagreed fundamentally with what I'd said I would have doubted my own judgement (and that'll be a first). He didn't, you've got the answers Rog, they may not be what you'd prefer but then compromise is a way of life for us at the moment.

You've got a goal to work towards and I for one look forward to you achieving that goal.

I wish you all the best,

Rich

Sooty0404

...he's a lot older and more confident than me


You, of all people should know better!

Sooty0404

Jane_East_Yorks wrote: »

Hi Mikey,

I'm fine ty and now I'm being a hippocrite (never) cos I chucked my o.h off the computer to go and cut the grass, (I thought yopu'd stopped smoking that) we're going out for tea and I don't want to be late. (That'll be a first for a woman) We're having a week of early nights (Oh yes - we all know what that means) to get over the last couple of months and I want to do some catching up at the gym. (Watch out Jim)

Bi for now,

Jane xx

Look out Peterborough - here she comes!!

Jane_East_Yorks

Sooty0404 wrote: »

Look out Peterborough - here she comes!!

Ty kind sir,

I also have my own little ballad to sing courtesy of your unique taste in music.

Jane xx

rog2

Could I thank everyone who has taken the time to give me advice on this problem. I really do appreciate it, and, as previously mentioned, I seriously wonder how people managed before forums like this existed - there really is 'strength in numbers' :A .

As you know, I have just started a temporary job, away from home, and do not have internet access during the week, but I have been able to look at the site a couple of times, without logging on, to look at your posts.

My wife has been to CAB, who, like many of you, have advised her to establish exactly what 'reasonable offer' the trustee is likely to accept. Following this, we will be approaching the building societies.

We are, also, trying to establish just how my BI may be affected by my son living at home, and our youngest daughter, currently at university, who is still dependent on us.

A couple of questions:

1. The literature that the CAB gave to my wife states that "If the trustee is the Official Receiver, the client's partner, relative or friend can take part in a low cost conveyancing scheme run by the Insolvency Service and a firm of solicitors."
Since the OR has appointed a private Insolvency Practitioner as my trustee, does this mean that we are not entitled to take part in this scheme?

2. How do we go about approaching the building society? Will my wife have a higher rate of interest imposed on her because of the circumstances, i.e. MY bankruptcy? - My wife has a clean credit record.

Thanks for any ideas.:beer: