When time is up on BR

ooitsme

Just a quickie,
I have about 2 years left to run before my 6 years is up. Just wondering if anyone who has been over 6 years heard from their OR at the end of the 2 years? Like a final statement or declaration or anything? Thanks

TheGardener

Hi - I'm not sure what 2 year thing you are referring to so forgive me if this answer is more info than you need...

Unless you were given a BRO/BRU then your bankruptcy ended 12 months from the date on your petition - an automatic discharge. The OR does not contact you about this but you will be able to see your entry on the IS website for about 3 months after the 12 month anniversary showing you are discharged. It is useful to get copies of this before it disappears if you can.

Your IPA - if you had one - lasts for 3 years from the date of the 1st payment (which may be a few months after your actual BR date) However, this does not change the fact you will have been discharged as a BR 12 months from the date of your petition.

6 years is the length of time your BR will show up on your credit reference file (nothing to do with the OR or BR) . This is why it is critical to do a credit file clean up as the dates of all defaults should be no later than the date of the your BR. If they are, then it is going to be 6 years from the date of the default and as some banks just keep updating the default every month, you can end up in a position where your defaults never drop off!

Unless the OR needs to talk to you about your income or assets - I would not expect to hear from them again about anything once you have completed BR interview and any negotiations about an IPA.

AndyBSG

As Gardener said, you're not bankrupt for 6 years(unless you did something VERY dodgy!).

You're generally discharged from BR within 12 months of being declared BR unless there are exceptional circumstances and a lot of the time you'll be discharged before that.

The 6 years you are probably referring to is the 6 years that the BR and associated debts will show up on your credit file for.

I'd recommend signing up with Noddle and checking that the default date on your BR associated debts is no later than the date you were declared BR.

As long as that is the case they should all drop off your credit file overnight once your 6 years is up.

You won't get a notification of this but you'll be able to see it on your credit file.