Our BR Diary, from start to finish......

tomterm8

Scarlett.1974 wrote: »

Super <rolls eyes> (as my smilies still aren't working!).

So, to confirm...... (sorry to be a thicko) regarding our credit files - our BR status will show on those for the usual 6 years PLUS whatever the term of our BRUs? So, re. any chance of a mortgage in the future - we're talking 11 years+ (for Potless anyway). Gosh...... :-(

A BRU / BRO stays on your file for as long as it lasts, so a BRU/BRO of 5 years will not increase the time the bankruptcy stays on your credit file. It will delay your ability to get credit for quite some time though.

HOWEVER, mortgage lenders will almost always ask you if you've been bankrupt at any point in the past in the application form, and you will have to tell them that you have been. Being bankrupt will, therefore, always affect your chances of getting a mortgage, however it is the experience of many people that having a bankruptcy is often actually a positive in applying for mortgage credit since the OR will probably apply a 6+ year BRO if you go bankrupt again.

Scarlett.1974

tomterm8 wrote: »

A BRU / BRO stays on your file for as long as it lasts, so a BRU/BRO of 5 years will not increase the time the bankruptcy stays on your credit file. It will delay your ability to get credit for quite some time though.

HOWEVER, mortgage lenders will almost always ask you if you've been bankrupt at any point in the past in the application form, and you will have to tell them that you have been. Being bankrupt will, therefore, always affect your chances of getting a mortgage, however it is the experience of many people that having a bankruptcy is often actually a positive in applying for mortgage credit since the OR will probably apply a 6+ year BRO if you go bankrupt again.

Thank you :-)

Oh, I am getting confused lol! Some think the BRU DOES extend the length of time it's on our credit file but some are saying no, it doesn't <--- confused smilie there.

dalip

Lady S why not ask ADC they may well know.D

tomterm8

Scarlett.1974 wrote: »

Thank you :-)

Oh, I am getting confused lol! Some think the BRU DOES extend the length of time it's on our credit file but some are saying no, it doesn't <--- confused smilie there.

That is what experian says on their website at http://www.experian.co.uk/downloads/consumer/bankruptcyV6.pdf . You can always call up the national debt line and get a definitive answer, of course.

Scarlett.1974

tomterm8 wrote: »

That is what experian says on their website at http://www.experian.co.uk/downloads/consumer/bankruptcyV6.pdf . You can always call up the national debt line and get a definitive answer, of course.

It seems that it (the BRU) runs alongside the normal 6 years then? I have called them! As well as the IS and CCCS...... there's no-one open on a Saturday <tut>!

Thank you :-)

Dalip - genius lady, excellent idea!! Will do that :-)

JCS1

BRU/BRO runs alongside the BR on your credit file, so if the BRO/BRU is less than 6 years you could argue it doesn't really have any effect :-)

Scarlett.1974

JCS1 wrote: »

BRU/BRO runs alongside the BR on your credit file, so if the BRO/BRU is less than 6 years you could argue it doesn't really have any effect :-)

JCS1, thank you, thank you, thank you. If I could click your thanks more than once then I would <big smile>. This has been annoying me all day lol!

:-)

ps. thank you!

maxmycardagain

08/08/08 wrote: »

yikes, someone scared me... name on london gazette FOREVER???????
is this only if you get a restriction order?
oh god...

no

EVERY "BR" is there till eternity....

look at 1994

http://www.gazettes-online.co.uk/ViewPDF.aspx?pdf=53544&geotype=London&gpn=376&type=ArchivedIssuePage&all=earp%20polesworth&exact=&atleast=&similar=

maxmycardagain

if you were a lender, what would you do?

check
experian
insolvency
and LG site

wouldnt cost a £5 to check

job done.

Richard_S

Broken_hearted wrote: »

They can't go together so the interviewer has the opertunity to trip them up if their stories don't match. That doesn't stop her taking support with her from someone else.

Hi Broken hearted,

We were interviewed together; it really does depend on the circumstances.

Richard