Is DRO still visible on file after six years?
Options
Comments
-
It would drop off your credit files.
It's possible that companies who lost money because of your DRO would keep their own records and be unwilling to lend again. Depends how their systems are set up.
1 -
Maria2000 said:Can the DRO still be seen on credit file if over six years old?
if so can it affect credit applications if over six years old?
0 -
it's pretty much the same, the only difference is that your bankruptcy will be recorded in the gazette, this listing will be there forever
1 -
Possibly but I'm not aware of ancient bankruptcies causing a problem.
As mwarby says there may well be a question on a mortgage application. If it's worded 'have you ever been declared bankrupt?' and you actually had a DRO, then the answer is no as a DRO is a form of insolvency but bankruptcy is a different form.
If it's worded 'have you ever been insolvent?' then you'd have to think how you answer that
0 -
looking at my own mortgage application form (lenders form filled by broker) we haveHave you ever had a mortgage or loan application refused?
Have you ever had a County Court Judgement for debt or a loan default registered?
Have you ever been declared bankrupt or made an arrangement with creditors?
Have you ever entered into any arrangements with your creditors or are you a party to a voluntary arrangement?
Have you had a court order/decree made against you for debt or is there any such action pending?
Have you ever (voluntarily or otherwise) had a property repossessed by a lender or entered into any arrangements for mortgage arrears?
Have you been subject to a debt relief order?So for a DRO you have the last question, although it doesn't use word ever, I don't see any time limit, so would answer it as everWorth bearing in mind that in spite of answering yes to question around voluntary arrangement (ie IVA) the mortgage was approvedPrior to having an IVA I had only considered the have yih ever been bankrupt question, worth bearing in mind that the questions tend to be more involved than that0
Categories
- All Categories
- 343.2K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.7K Spending & Discounts
- 235.3K Work, Benefits & Business
- 608.1K Mortgages, Homes & Bills
- 173.1K Life & Family
- 247.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards