Mortgage products for CCJs / bankruptcy

stevepro1982

It would seem that there are little in the way of mainstream lenders who will offer mortgages to those with bad credit and CCJs but there are who will offer discharged bankrupts after 2 years. Am I right on this? Seems like my best option is to go bankrupt than continue to fight this losing battle with debt.

ACG

You are reading it wrong, there are not many lenders who will consider bankruptcy until its 3 years old. The important word there is consider - by no means is it an accept.

With regards to the CCJs there are lenders who will look beyond them once they have been satisfied or once they reach a certain age.

There is not enough information to give an accurate answer so it might help to give us a brief idea of your circumstances (we dont need the info on who/where/why etc, just what is on your credit report, dates, amounts). Also what battle is it you are fighting with the debt.

If you are fighting a batte with debt then i dont think you are in a position to purchase a house?

stevepro1982

I have had a couple of non credit related CCJs against me in the last few months. One in particular I feel is a massive injustice, so I am sat here now with two N245 in one hand and bankruptcy paperwork in the other. They are for around £1000 each. I have about £11000 in other unsecured debt that much of it is nearly 5 years old and I've kind of been riding it out waiting for statute barring. £6000 of it was to welcome finance and I believe the amounts are incorrect as it was for a car years ago that I returned. I now earn a very good wage, I had been putting a little away each month. I've been clearing up more recent debts and I kind of thought I was leaving my past behind.... It's not that I'm trying the shirk my debts but I feel that if I start to make payments now I'll begin the reactivate them. I have a car loan secured for £6000 outstanding and I'm halfway through paying it off and up to date. I just want to be able to buy a house in around 2-3 years time and stop paying money in dead rent. I just can't figure out the best plan of action! These CCJs seem to have sent me back to square one. Thanks