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qwerty
Starting Member
United Kingdom
8 Posts |
 Posted - 16 August 2010 : 03:16:43
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Hi All,
I went BR in May 2009 and was automatically discharged in May of this year. My life when I went BR was relatively uncomplicated as I was not married, had no dependants, had no assets and had just been made redundant a few months earlier.
I don't anticipate any future BROs or anything as there was no crime involved, my bankruptcy was not due to any recklessness on my part and I cooperated fully with the OR.
I've since become a full-time university student in an attempt to enter into a profession. Fortunately there are no restrictions on bankrupts entering this profession, but I may be required to become a director of my own limited company in order to practice.
My questions are as follows:
* I understand that, as an undischarged bankrupt, you are not permitted to be a director of a limited company, but is this restriction lifted after discharge?
* I also understand that my credit rating will be damaged for up to 6 years. Does this 6 year period start from the day I went BR or from the day I was discharged?
* Is it true that ex-bankrupts will always struggle to get credit, even after this 6 year period?
Any answers will greatly be appreciated.
Qwerty. |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 16 August 2010 : 08:50:09
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Don't worry about a future BRO as if you haven't had one by the time you are discharged you won't get one.
Once you are discharged you can become a director of a company providing there is no BRU/O in place.
The BR stays on your credit file for 6 years from the date the BR order is made, so in your case will drop off in May 2015.
It is possible to get credit if you have been BR, although some companies such as mortgage lenders want to know if you have ever been BR.
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.
Last IPA payment made on 28th June 2010 - it's over at last! |
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Life after discharge
