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Is it normal for creditors to hold a past bankruptcy against you for life?
Jelli
Posts: 230 Forumite
7 years ago I went through bankruptcy and was under the impression that when I had past 6 years that information would be long forgotten by my old creditors, but recently I applied for a FirstDirect account but was turned down on the basis of having a history of dept with them regardless of it being written off by the bankruptcy. It kind of made me sad as was hoping for a fresh start with banks and creditors to take advantage of services.
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First Direct are notoriously picky over who they do business with (even people with a clean credit history can struggle to get an account at times) so it doesn't surprise me that they will refuse business from people who have owed them money prior to bankruptcy (American Express also have the same policy).
On the plus side, most of the high street banks are less strict (I have just opened a Natwest account despite owing them £10k before bankruptcy).0 -
Hi Jelli
It's a reasonable enough assumption to make, but as you've seen (and as Gaz observes above) certain lenders can operate differently. No reason to suggest though that the majority of banks will do anything other than view you as having a clean slate.
Dennis
@natdebtlineWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0 -
Thanks for your replies and thoughts.0
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There IS no "clean slate" when the London Gazette keeps you on show forever....0
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If someone you leant money to didn't pay you back would you ever want to lend to them again? As you have found banks tend to have the same approach to life.
Rob0 -
I've found most lenders forgiving. I owed lloyds tsb a huge amount that was written off completely. I opened a current account with TSB and a credit card with Lloyds with no issues 7 years later.0
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7 years ago I went through bankruptcy and was under the impression that when I had past 6 years that information would be long forgotten by my old creditors, but recently I applied for a FirstDirect account but was turned down on the basis of having a history of dept with them regardless of it being written off by the bankruptcy. It kind of made me sad as was hoping for a fresh start with banks and creditors to take advantage of services.
Are your credit files as they should be??......just a thought
https://forums.moneysavingexpert.com/discussion/677875Not quite a newbie as you think
;) (the member formally known as philnicandamy!)
FINALLY a qualified CAB debt caseworker 2015..:p
BSC 58
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I was told on the phone it was because I use to have dept with them, that was the reason philnicandevan. As someone has already said it's because they are a more stricter bank.0
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