Bru

ezzauk

Hi All, first of all this site has been great support for me over the last year or so. I have a few questions on BRU, i will shortly be discharged from BR but will still have a BRU applied to me.

1. Can i start to clean up my credit file?
2. Is it worth getting a CC to start rebuilding my credit
3. Is there any other gotchas.
4. Can i open a savings account

My long term plan is to rebuild my credit so that in 7 years time me & OH can get a mortgage.

Many Thanks
Ezzauk

debt_doctor

ezzauk wrote: »

Hi All, first of all this site has been great support for me over the last year or so. I have a few questions on BRU, i will shortly be discharged from BR but will still have a BRU applied to me.

1. Can i start to clean up my credit file? Yes.
2. Is it worth getting a CC to start rebuilding my credit Yes.
3. Is there any other gotchas. See below
4. Can i open a savings account. Yes

My long term plan is to rebuild my credit so that in 7 years time me & OH can get a mortgage.

Many Thanks
Ezzauk

For question 3, all a BRU does is extend the conditions of you bankruptcy for a further period of time (between 2 and 15 years). Your bankruptcy still ends after one year. So for a further period you cannot borrow more than £500 without disclosing your BRU status, you cannot be the director, trustee or involved with the formation or management of a company.
Whether anyone actually gives you a credit card or savings account depends upon their criteria.


DD

tigerfeet2006

For savings accounts go to Yorkshire Building Society. They do a nice little online saving account that you apply for...online.

Also Google Credit Union and your County/town. A CU account is absolutely brilliant and is ideal for those of us with adverse credit.

ezzauk

Thanks for the advice.

Ezzauk