confused discharged Bankrupt

chance

Bankrupt December 2005- discharged August 2006

Credit agencies have on my file that my bankruptcy is settled from an unknown source, have written to all 3 again, Equifax say they will put it as discharged.

When I apply for anything eg.Bank accounts, contract phones they all say I’m bankrupt?

The only one that says yes at the mo was provident, but I had to decline as APR way too high, for me anyway.

I know its going to take time, but I want to rebuild my credit status, really want to know why everybody still thinks I’m bankrupt? and how to resolve this.

Any Help?

wherediditallgo

Although you've been discharged, bankruptcy stays on your credit files for 6 years. The only thing you can do is keep an eye on your credit files to make sure they're showing the correct information. You'll find info on how to do his in the sticky here. As the years pass, credit providers will become less hesitant about you, so you'll probably be able to upgrade your bank account from a basic one - you could try upgrading with your current bank, but that doesn't always work. It'll be a good while before you get a cheque book or overdraft again. Regardless of what some companies say, nothing repairs your credit files except the passage of time - you may be able to find a lender prepared to offer you a small amount of credit, settlement of which may look great on your file. However, another person looking at your file may wonder why/how you managed to get credit so soon. Too many account applications in a short period of time may adversely affect your credit file too.

chance

thanks step by step, I am patient trying to give it up to 3 -5 years of steady credit building, may need a loan in 3-4 years time, as I need to possible pay for my LPC Course.

THanks

fiveyearplan

If you need a loan in 3-4 years time couldn't you put a bit by each month until that time?

lindsaygalaxy

Hello

I have a quick question along a similar line, when asked by someone/company or on an application, and you are discharged, do you still need to declare you are bankrupt? And once the 6 years is up, do you still say you are Bankrupt on applications or do you not need to say? Will they know when it has fallen of of the credit file?

fermi

lindsaygalaxy wrote: »

I have a quick question along a similar line, when asked by someone/company or on an application, and you are discharged, do you still need to declare you are bankrupt? And once the 6 years is up, do you still say you are Bankrupt on applications or do you not need to say? Will they know when it has fallen of of the credit file?

Depends what they ask!

If they ask "are you currently bankrupt?" then once you are discharged you can obviously say "No".

If they ask "have you ever been bankrupt?", then obviously you have to say "Yes".

Your entry in the London Gazette will always be there for someone to see (if you can find it) after the 6 years.

Plus, as was discussed on another recent thread, a record of your bankruptcy is kept permanently on record with the Insolvency Service. But their permanent register is normally only searched by mortgage lenders.