No Defaults before bankruptcy

AlmostDun

Hello all, I have a question that I could not find an answer to on the forums.

If some one files for bankruptcy and they have an excellent payment record, credit cards with nil balances and no signs of delinquent spending, will there accounts be defaulted after bankruptcy or will the accounts be closed with the same payment history?

All answers will be very appreciated.

CKhalvashi

The default date will be the same as the date of bankruptcy.

Any later, then there is a letter to send to the creditor.

dojoman

Does not matter, I was in this position nearly 6 years ago, once you go BR it destroys your credit rating regardless of your history.

TheGardener

This is similar to my experience - my credit history was great - no defaults or late payments but I reached the point where an event made it impossible for me to go on and there was a period of 3 months where I didn't pay any creditors while I saved the money I would have spent on servicing debts for BR fees, moving house etc. Even if you pay your creditors upto the date of BR, the accounts will be defaulted if there is an outstanding balance at the point of BR and you lose that clean record.
I made myself BR and even the OR commented on my spotless credit record and administration. At BR all debts are cancelled - they are marked as defaulted on your credit file. After discharge, you can start making sure your defaults are cleaned up and none of them have a date later than the date of BR. 6 years from the date of BR (assuming you cleaned up the files) they will drop off the credit file.