What to do after Bankruptcy Discharge ?

paddyisis

Hi, I'm hoping for some advice about rebuilding my credit score and what I need to do to make my credit file a little better please ?
I was made bankrupt in March 2014 after repossession due to a divorce, my ex stayed in the home until it was repossessed and we also had joint loans and cc's that went into the bankruptcy.
He was discharged after 12 months and had no further contact with any debtors or the insolvency practitioner.
I however still get letters from and the odd phone call from debt collection companies and I have to send evidence of incomings and outgoings to the insolvency practitioners every 6 months. I've never been told that I have been discharged but from reading posts on here it appears I would have been after 12 months ?
As my 3 years is almost up I'm wondering what I can and should do to start rebuilding my credit rating and what the future potentially holds.
I'm renting at the moment but would like to be able to buy again in the future so it would be good to start making steps towards that.

Thankyou in advance !

TheGardener

Hi - So you and your partner both went BR? or just your partner?
You say 3 years are up - do you mean you had an IPA?

Yes - you will probably have been automatically discharged after 12 months unless the OR put any restrictions on you (usually only do this if there has been any fraud or you have not co-operated with the OR) - you can email your OR and ask for confirmation of AD if think if you want/need it.

The most important step is to read the 'sticky' thread about the credit file clean up as there are obviously still some things on the file that need updating or you wouldn't get so many letters.

Rebuilding your credit record has limited impact if you don't clean up your files so that needs to be done first.

paddyisis

Thankyou for your reply,

We both went bankrupt at the same time so that the joint loans and the mortgage arrears were included in the bankruptcy.

There wasn't any IPA, by the three years being up what I mean is that the OR assessed that I had to make monthly payments towards the bankruptcy as I was deemed as having additional income (around £60 per month), I have to do this for three years after the date of the bankruptcy. My ex doesn't have to as he isn't classed as having additional income.

Thankyou for the info - I'll crack on with trying to clean up my file

TheGardener

An IPA is the 3 years of payment of the 'surplus' income so you did have one but unless there was any sort of restriction (IPO) then you will still have been discharged after 12 months.

While you are checking your files, look for the 'connections' between you and your ex. It may be worth ensuring you lodge some sort of notice of 'disassociation' once you have 'cleaned up' then start looking at ways to improve your credit worthiness. Squeaky clean management of your bank accounts (no bounced DD's) a regular saving account, even if its just a few pounds a month can all help as can phone contracts etc