What happens when you are discharged?

jason909

Hi,

I'm due to be discharged this Summer and so far the time has gone so quick. What happens around the time you are discharged, do you receive a letter from the OR and what does it say?

If you suddenly applied for say a normal current account from say First Direct or Marks and Spencer's what are the chances it will be approved?

Thanks

Mollie_Guinness15

Nothing happens at all really. You won't hear anything from the OR, you can ask them to email you confirmation of discharge - discharge.queries@insolvency.gsi.gov.uk

luvchocolate

Hi discharge is automatic and you will not receive any notification.
If you go on the I.S website and click on your name it will show your discharge date, this is only there for 3 months so print it off for your reference.
Sorry but you will be stuck to a basic account until it comes off your credit report..6 years from your B.R date.
It is possible to get a savings account and I.S.A tho, many threads on here about that.

jason909

Thanks!

It's interesting as a few people I know when bankrupt and they applied for bank accounts and loans within 12 months of them been discharged and they where approved. They applied for 6 different loans 3 had been rejected 3 approved think they managed to get around £10,000 in total.

Abitdown

One would imagine that to be the exception rather than the rule.

Cobalt77

jason909,

If you think FirstDirect will touch you, then you are eternally optimistic.

They have one of the most stringent sets of customer profiling criteria going, and won't accept anyone with even the merest whiff of credit problems. You might get accepted for a current account if you had, say, a historically old but settled CCJ which is a few years old.

But having a BR marker on your file means you are pretty much stuffed until it comes off in 6 years - unless you are on their "preferred list" of customer types (e.g. doctor, accountant, solicitor, most other proper and "non manual" professions) or you are self-employed and can demonstrate you are earning a shedload of money.

HTH