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Financial restrictions after AD.
Grumpy_Shunter
Posts: 227 Forumite
Can anyone advise me on what financial restrictions are eased/lifted after AD?
For example, can I spend more than 1k on a car? Can I apply for more than £500 credit? Can I keep things like tax rebates?
Many thanks.
For example, can I spend more than 1k on a car? Can I apply for more than £500 credit? Can I keep things like tax rebates?
Many thanks.
Advertising has us chasing cars and clothes, working jobs we hate so we can buy crap we dont need!:think:
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Comments
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Grumpy_Shunter wrote: »Can anyone advise me on what financial restrictions are eased/lifted after AD?
For example, can I spend more than 1k on a car? Yes, if you have the money you can spend it how you want to. Can I apply for more than £500 credit? You can apply - whether or not you would be accepted is another matter Can I keep things like tax rebates? Only for tax years after BR - any rebates that related to tax years prior to your BR will go automatically to the OR.
Many thanks.
Generally all restrictions are lifted on AD unless you have a BRU/BRO and subject to any IPA you may have."Whether you think you can, or you think you can't -- you're right" - Henry Ford0 -
OutofDebt-NOT-OutofDanger wrote: »Generally all restrictions are lifted on AD unless you have a BRU/BRO and subject to any IPA you may have.
Thank you.
Are there any other financial restrictions that will be eased/lifted after AD that you could inform me about?
Although I'm not considering any of the above, yet, it's still good to know these things. Thank you.Advertising has us chasing cars and clothes, working jobs we hate so we can buy crap we dont need!:think:0 -
As stated already in post 2, all restrictions are lifted after AD, although you will still find it difficult obtaining credit, but this not due to any "restrictions" but because you are seen as a bad risk for credit.:pB&SC No. 298
Life`s Tragedy is that we get OLD too soon
and WISE too late!0 -
hi..there aren't any 'financial' restrictions whilst undischarged BR either.
Simply a requirement-in-Law to inform the OR or a potential creditor of the situation.
As the others have ably posted, apparent 'restrictions' stem from the finance industry itself, and their reluctance to deal with discharged BR's.
If under a surplus-based IPA for three years, then, during that period you have an obligation [within 21 days] to inform the OR of any changes in circumstance, that would affect your SOA.No, I don't think all other drivers are idiots......but some are determined to change my mind.......0
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