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debtrider
Junior Member
494 Posts |
 Posted - 12 April 2010 : 12:32:34
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I went bankrupt in Oct 08 and was wondering when my credit file will be back to normal. I know it is 6 years but is this from the date you were made bankrupt or from your discharge date..
Debtrider |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 12 April 2010 : 13:50:00
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Hi Debt Rider
your credit file will never be back to normal .. even after the alloted time you still have to declare BR on some mortgage applications.
Skippy's blog is very good for actions to be taken to tidy up credit file, then slowly build up with mob phone repayments , TV media, utilities even a prepayment card shows that you are back in control, the amount repaid is not important it is that you are clearing your debts every month.
good luck Richard
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 12 April 2010 : 13:56:56
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As far as I'm aware the only pre paid card that will help rebuild your credit rating is the Cashplus card. They loan you the equivalent of 1 year of their fees and as you repay them monthly they report to the credit reference agencies.
A catalogue account is another way of rebuilding your credit, as is a low limit credit card (I have one with Vanquis) providing you pay the balance in full each month!
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
33 IPA payments made, 3 to go - the end is in sight! |
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debtrider
Junior Member
494 Posts |
Posted - 12 April 2010 : 14:23:18
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I probably did not phrase this question properly.
I am of the understanding that the bankruptcy disappears from your credit file after 6 years. My question is this. Is it 6 years from the date of your bankruptcy or from the date of discharge?
I have already had a prepaid card for 2 years and do not intend getting credit again.
I try and be a bit more optimistic than Richard P and believe your credit file will get back to some normality after 6 years. You should not be penalised for life for this.
Debtrider
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debtinfo
forum expert
2826 Posts |
Posted - 12 April 2010 : 14:25:43
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| It will drop of your credit file 6 years after the bankruptcy order, but as richard says if anyone ever asks you on an application if you have ever been bankrupt then you will have to reply yes |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 12 April 2010 : 17:42:11
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sorry debt rider, i did not mean to sound pessamistic in my answer
I am normally very optimistic however i try to provide my answers based on the challenges other have faced.. as not to give a false dawn !
I totally agree with you I am / will be a cash only person.
And yes we bankrupts should not be penalised for life, now the real world Banks and credit companies do not like us if we have owed them money and then gone BR.
hence why they will not change the wording on loan applications, they still have you.
regards Richard |
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When is your credit back to normal
