Bye Bye Bankruptcy

Butts

Unfortunately my threads from 5/6 Years ago have been closed, but today my Bankruptcy disappeared from my Credit File.

I moved from Scotland to Wales six years ago in order to go Bankrupt with £100,000 plus of debt mainly owed to Cabot et al ...

The reason for the relocation was to ensure that I never faced an IPA as in Scotland if your income increases post-discharge you face the prospect of getting one whereas in England and Wales discharge means discharge per se.

As soon as I was discharged I moved back to Scotland and started earning real money again after supressing my income for the year in Wales to avoid an IPA.

I had signed the House over to my ex-wife five years before going Bankrupt to keep it out of the hands of the OR so my half share in that remained untouched.

All in all a pretty painless process although the actual Bankruptcy Interview was nerve wracking but in the end "The Sting" was successful utilising the regulations that leave the door wide open for a painless exit from debt.

luvchocolate

I remember your posts from way back...well done 
It's all about the planning and not rushing. 

sourcrates

Planning is everything, people tend to panic and rush into things without giving the consequences much thought, and the results are usually always the same, pretty dire.

Any debt solution needs to be thought through so it has the least effect on you, and gets you the results you want, its not difficult, just requires some thought, unfortunately where debt is concerned, folk don`t always make good decisions.

Well done OP.

Butts

Indeed, I went Bankrupt with well north of 100K Debt.

It was almost too easy.

Now it appears my Credit File has tidied itself up as I am in the process of ditching my Virgin Money (Yorkshire Bank) Basic Account and been accepted for a Nationwide Flex Plus Account with an added Bonus of £200 for switching.

Ironically Nationwide were one of my Creditors at the time of Bankruptcy for around 6K