My bankruptcy doesn't show up on any credit reports, have I got away with it?

Mushface

Hello,

The title is probably a stupid way to put my question! But now that I've caught your attention, I've been bankrupt for 3.5 years. I have moved houses lots over the years and was never very organised so hadn't put myself on the electoral role since well before my bankruptcy. I'm a bit more mature now! So I want to take the steps to improve my credit rating etc. Recently I signed up for 2 free trials on credit rating websites (Experian and Equifax) and neither disclose my bankruptcy. Is this because I haven't been on the electoral role during this time? My credit rating is listed as 'fair', I'd really like to make it better so that I can one day get a mortgage. Does anyone have any suggestions? I don't know if I'd be able to backdate my electoral role addresses? Or if it's better not to? Do mortgage companies see what we see on these online credit report companies? If so, might I be OK just to apply for a mortgage in the next couple of years?

When I first became bankrupt I had to get a new bank account, and couldn't pay by direct debit for any of my outgoings for a year. So my bankruptcy must be on some records somewhere! Since then, I have been allowed to set up direct debits and have even been allowed credit cards and store cards (which I've been using sensibly restore my credit rating!)

Can anyone offer me advice please?

dojoman

If you are asked have you ever been BR which you will be when applying for a mortgage, you have to answer yes no matter how long after you are discharged. Just because it is not on your CRA does not mean a thing, you will be on the London Gazette and it stays on here for ever. This is freely available to anyone to search for your name. There is nothing stopping you applying for a mortgage in a couple of years but you will need a hefty deposit and a lot of luck.

kingstreet

If you do apply for a mortgage, the lender may not pick it up at application stage, but the solicitor's bankruptcy search they normally do just before exchange of contracts certainly will.

The solicitor is acting for the lender, as well as for you, do is duty bound to report to lender

Then, the mortgage offer is likely to be withdrawn, resulting in loss of property and loss of fees paid because either the lender doesn't lend to current and former bankrupts or it takes a dim view of the lies on the application if you answer "no" to the usual question.

sacha1dog

Does the Halifax lend to former bankrupts?

debt_doctor

sacha1dog wrote: »

Does the Halifax lend to former bankrupts?

Yes they do, they have just lent to me. In my case all they said about the BR was "oh well, that was a long time ago" (8 years) - heavy reliance on credit score though, you will need to be at least 'good' on Experian.


DD

bunniehops

my boyfriend just got turned down by Halifax- ex bankrupt discharged over 6 years ago and fair credit rating and a hefty deposit...

tigerfeet2006

Just goes to show how what works for one won't necessarily work for some one else.

Bunniehops, were there any defaults showing on the CRF's?

fermi

Mushface wrote: »

The title is probably a stupid way to put my question! But now that I've caught your attention, I've been bankrupt for 3.5 years. I have moved houses lots over the years and was never very organised so hadn't put myself on the electoral role since well before my bankruptcy.

The CRAs will have a record of the bankruptcy. It's just a question of why it doesn't show on the reports you have obtained.

Usual reason would that you did not did not give a complete address history for the last 6 years, or there is some mismatch on that preventing a full history from linking up.

When a lender searches you with the CRAs it not the report that you just got that they see. Instead it is one generated at that time for them, so it's quite possible that a potential lender checking you could see the bankruptcy on their version of a report.

Just because you don't see it doesn't mean that they won't.

debt_doctor

bunniehops wrote: »

my boyfriend just got turned down by Halifax- ex bankrupt discharged over 6 years ago and fair credit rating and a hefty deposit...

My credit rating was the top end of fair too - and they turned ME down on JUST that - there was nothing I could do to improve it - all my accounts were fine, never defaulted on anything since 2006 - I appealed their decision and won - To be fair, in my job, I'm pretty good at appeals!!


- do get a strange look though, when I tell them I'm a specialist debt caseworker for the CAB, a member of the Institute of Money Advisers - oh, and yer, I'm a former bankrupt and have had a house repossessed!!


DD

- good job I'm thick skinned !

Mr_F_Dorsetty

dojoman wrote: »

If you are asked have you ever been BR which you will be when applying for a mortgage, you have to answer yes no matter how long after you are discharged.

Have you actually been BK?


Now, I have been BK twice and I have seen you say this elsewhere and frankly, I do not believe that is correct.

To my understanding has always been that after 5 years you have no legal requirement to inform anyone for any reason.

My advice however to the OP and anyone else is this - totally ignore all technical advice from people on the internet.

Instead ask your OR for BK information or at worst the CAB, they are happy to help and they'll know the correct answers or find them, no matter the subject.

debt_doctor

Mr_F_Dorsetty wrote: »

My advice however to the OP and anyone else is this - totally ignore all technical advice from people on the internet.

.....but aren't you a " person on the internet???"


DD