Discharged

Lewisp

I have recently been discharged from br. Even tho i have been discharged, am i likely to find it difficult to obtain credit again? what happens if i want to get a mortgage will the prove difficult? please someone put my mind at ease lol.

Conor_3

Typically you're stuffed for loans and credit cards for a good few years apart from the "rip-off rate" mob. Mortgage wise, it was 2 years but now with the sub-prime crisis, I expect it'll be a lot harder.

Lewisp

well tbh i dont think i will ever look at a loan or a credit card again. One thing i did learn about bankruptcy is that if you dont have the money to pay for it, save up untill you do. The day i stood in court, and trembled with fear. I will never go through that experience ever again. But on the otherside, i feel a mortgage will be the only credit i would ever have. I see that as a living expense.

tigerfeet2006

Very eloquently put Conor!!!!!!!

Lewis you also need to check your credit files to make sure they are sorted properly. Follow this link

http://bankruptcy.informe.com/viewtopic.php?t=192

rog2

Lewis - whilst your ability to get a mortgage may be affected, for the next year or so, most high-street mortgage lenders will consider discharged bankrupts (I am in the final stages of a mortgage deal with HSBC) although they may tie you in to a higher interest rate for the first few years.
I would tend to steer away from the sub-prime lender, as they will do you no favours whatsoever - it seem that many of these 'vultures' are now getting their well-deserved comeuppance.
If you are considering a mortgage, then you should speak to a 'whole of range' independant mortgage adviser - make sure he doesn't charge you commission - he will be making enough from your lender - Martin has reccomended one - I'll see if I can find the link.