Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

    • Houston01
    • By Houston01 5th Jan 18, 4:17 PM
    • 5Posts
    • 0Thanks
    Bankrupcy now off credit reports
    • #1
    • 5th Jan 18, 4:17 PM
    Bankrupcy now off credit reports 5th Jan 18 at 4:17 PM
    Hi - I am new to this so please be nice.

    9 Years ago I had to go through bankruptcy. After a very hard lesson which I have learnt from, I have been working extremely hard to repair my credit score.
    The bankruptcy has dropped off my credit report and that was 2 years ago now. I got a credit card and have been using that and paying it off to help me get a good credit history again and build my credit score.

    I am in a good job with a good salary and have been for 7 years..... I feel now, that I need a new car but will need finance for this but feel extremely comfortable about doing this now for the first time since I went bankrupt.

    My question is that if the question is raised by the car finance whether or not I have been bankrupt do I have to declare it and will it affect me if I do. I don't want to be dishonest but feel that I have paid for my mistakes and that as it no longer appears on my credit report why I should have to declare this. I will if I have to.

    I know with a mortgage they do search for this and if I was applying for a mortgage I would be upfront but I cant remember as it was well over 14 years ago since getting car finance, if they ask this question.

    Your advice would be greatly appreciated.
Page 1
    • Steven_from_scotland
    • By Steven_from_scotland 5th Jan 18, 11:10 PM
    • 47 Posts
    • 17 Thanks
    • #2
    • 5th Jan 18, 11:10 PM
    • #2
    • 5th Jan 18, 11:10 PM
    All depends on the question they ask you, some might ask have you been bankrupt in the last 5 years, you can answer no

    But if they ask have you ever been declared bankrupt then you should just be truthful and say yes
    • KeepOnKnitting
    • By KeepOnKnitting 6th Jan 18, 11:34 AM
    • 160 Posts
    • 231 Thanks
    • #3
    • 6th Jan 18, 11:34 AM
    • #3
    • 6th Jan 18, 11:34 AM
    As it is car finance though, they are unlikely to ask.
    Save 12k in 2018 #62
    • Houston01
    • By Houston01 6th Jan 18, 1:03 PM
    • 5 Posts
    • 0 Thanks
    • #4
    • 6th Jan 18, 1:03 PM
    • #4
    • 6th Jan 18, 1:03 PM
    Thats what I was thinking.
    Thankyou. I think I just needed clarification. Thank you
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

147Posts Today

1,422Users online

Martin's Twitter
  • RT @LaraLewington: ...and mine suggested I'd achieved a lifelong ambition of being sawn in half by a magician - at our wedding. Wasn't. Don?

  • We are working on it - I think BA has behaved awfully on this. Those flight were no obviously a glitch. It should?

  • RT @thenicolabryant: Absolutely. We need mental health and financial health as advocated my @MartinSLewis , to be taught in schools. So muc?

  • Follow Martin