discharged bankrupt...help with getting a loan

joeygreen

Hi,

can any one help me?

I am trying to get a loan...but i cant. I assume it was because i was once declaired bankrupt. I was discharged in april 2005.

I checked my credit report with experian and it has no record of my bankruptcy on there. My credit score is 971/1000.

I have credit cards that I make minimum payments on every month and have never missed a payment.

I want the loan to consolidate my two cards.

one card has £1500 - the limit is £1700
The other has £479 - limit is £500

I signed up to the experian credit expert web site and they sent me a copy of my credit report. under the public records section where the bankrupcy would be displayed it says 'No data was retrieved for this section.'

Do you think they are not sending me my full report? ie. lenders can see that i have a bankrupcy record but i cant? how long should a bankrupcy record stay on my report for?
can anyone suggest
1 - why there is no record of my bankruptcy on ther?
2 - why i keep getting refused credit
3 - where is a good place for me to get a loan.

thanks a lot

rog2

Why on do you want a consolidation loan? Is it to pay off your credit cards, so that you can use them up to their limit again?
Almost 100% of DFW and Bankruptcy Posters would recommend against consolidation.
If it is to pay off your credit cards, then cut them up, I would make sure that the interest on any loan is below that of your ccs.
With a credit score such as yours, and no reference to your bankruptcy, you should not find it too difficult to get a mainstream loan.
I am a little confused, but you could try the other credit reference agencies.

uther_2

You were discharged in 2005 and already you have run up nearly £2000 of credit card debts? Sorry but are you nuts? Why on earth would you ever go near credit cards ever again! Actually I wonder how you can even have them!
All I would say is cut them up immediately and pay them off as quick as you can.

debtmonkey1

Hi Joeygreen,

For whatever reason I would guess the BR is on equifax & call credit-so even if by some sort of error it's not on experian I'd say any loan application will look at all 3 agencies-hence for a normal loan (ie not a loan shark!) you are b******d until 6 years has passed from date of discharge.

Just out of interest-which cards were given to you? I assume you have used the address of the BR (or linked it as previous?) & have not...ahem (!) started a 'new' address with no linking (?!!).

Guys-yup-paying them off in full/cutting them up-all very noble but come on-we're all adults & can make up our own minds. I do agree though that consolidation will lenthen the debts & if you can avoid it you should.

uther_2

When you go Br you have to send all your cards etc to the OR.If the cards were obtained just after Br I would be interested to know who was handing out credit cards to the newly discharged.
You are right in saying that we are all adults and make our own choices.
Nearly maxing out 2 credit cards within a couple of years of being discharged from Br and then looking for a loan is not a good plan.
Sorry but it just hit a nerve.

James&Shell

Why don tyou just cut them up and bin the cards and pay them back its better that way i conslidated twice before i went br and everytime i went back to my so called flexible friend!!

Posthinking

James&Shell wrote: »

Why don tyou just cut them up and bin the cards and pay them back its better that way i conslidated twice before i went br and everytime i went back to my so called flexible friend!!

Funny that. My flexible friend developed arthritis just before BR! Showing our age aren't we?;)

southcoaster_3

Wow, people are quite judgemental on here!

Posthinking

southcoaster wrote: »

Wow, people are quite judgemental on here!

Actually, most of us aren't judgemental at all. This board attracts some, who, for whatever reason just want to have a go at peeps who have had no alternative than BR.

uther_2

I'm not judgemental at all.I think that most people after going through the pain and heartbreak of Br would not be looking at ways to get into new debt as quickly as possible.The OP states that he/she has nearly maxed out 2 CCs very soon after discharge.Now they want another loan!
Sorry but I find it a bit difficult to be sympathetic in those circumstances.Going Br once should be enough for most people.

Broken_hearted

Maybe judgemental but to be in a mess so soon after BR kind of misses the whole point of it. All we can do now is offer advice so it doesn't get worse.