I filed for Bankruptcy in 2007, but never received a Discharge Notice. How do I apply for one please? I still have the original papers, because I was told I would have to wait 7 years to apply for a discharge, but is this no longer the case?
You would have been automatically discharged after 12 months and removed from the Insolvency Register 3 months later, but if you are looking for an actual discharge certificate you will need to pay £70 for one at the county court where you went bankrupt – it is not free despite the court fees you paid. We don’t think there is any point in doing this now, but for the benefit of other readers, it is worth obtaining the discharge certificate and sending copies to all of the credit reference agencies. The agencies are slow to update credit files and we’ve heard of cases where people are still being listed as bankrupt two years after discharge. Needless to say, this does little to help those trying to improve their credit ratings.
Bankruptcy UK offers a full bankruptcy administration service, including dealing with creditors, completing the all important Income and Expenditure, professional completion of the relevant paperwork and bankruptcy help at all levels. Call us on 01425 600129 or 0800 5977 977 for a chat about your circumstances.
Many people get confused between what happens to their credit report and how long they remain on the Insolvency Register, so let’s look at that first. All bad credit, including CCJs, late payments, returned direct debits and bankruptcies reflects on your credit report for six years, which underlines the importance of keeping on top of things. The Insolvency Register on the other hand, is a record of all formal debt arrangements (IVAs, DROs and bankruptcies) and remains in the public domain for 15 months. When a record falls off the Insolvency Register, it does not directly affect your credit record; only time and the correct conducting of your accounts will solve those issues.
Your credit report will obviously be badly affected by bankruptcy, but from a lender’s point of view it is no worse than a history of late / missed payments and CCJs. In fact, we have heard of numerous cases where people have credit scores of 800 plus barely two years after discharge and mortgage brokers make no secret of the fact that you can now get a mortgage three years after discharge. This would definitely not happen if you struggled along in a Debt Management Plan or IVA for years on end. The trick is to acquire a ‘credit impaired’ credit card as soon as possible and make regular payments on small purchases. The reason for this is that every successful payment records a ‘zero’ next to the creditor’s name (and ‘ones’ for missed payments) and these zeroes are good news for credit ratings.
Bankruptcy UK offers a full bankruptcy administration service and will submit your bankruptcy application online. Court appearances are no longer required for bankruptcy. Call us for bankruptcy help on 01425 600129 or for an informal chat about your circumstances.
You are bankrupt for one year and removed from the Insolvency Register three months later. Anyone may view the Insolvency Register, it is in the public domain – simply Google it. Bankruptcy only comes off your personal credit file after six years. However, people can do a lot to restore their credit ratings relatively quickly: once discharged from bankruptcy, pay for an official letter of discharge and send copies to the credit reference agencies viz. Experian and Equifax.
The credit reference agencies will be unaware of your status unless you tell them. You might also consider applying for an ‘impaired credit’ credit card (Lumus.co.uk, Capital One, Aqua, etc.) and making regular small purchases and payments. This will work wonders for restoring your credit rating and it is often the case that people have credit scores of 700 plus just 15 months after discharge. You can now get a mortgage just three years after discharge from bankruptcy.
Bankruptcy UK offers assistance at all levels and will also prepare and submit your bankruptcy application online. Court appearances for bankruptcy are no longer required. Feel free to call us for bankruptcy help on 01425 600129 for a chat about your circumstances.
I was made bankrupt in 2008 when i was out of the country and was advised by a relative that i had received a notice of bankruptcy. I am currently abroad and have no plans to return to the UK, though this may change. I never made contact with the receiver nor did i receive anything including my court summons. I have 2 questions (1) were i to return to the UK am i likely to be arrested and (2) have i received a suspension of discharge as the last mail i received was a big envelope containing forms from the OR and a notice and a leaflet about how bankruptcy affects me!
You would have been made bankrupt regardless of your absence and will not be discharged until such time as you make contact with the Official Receiver. Therefore, if you were to check the Insolvency Register, you would find that you are still officially bankrupt with ‘BRU’ in bright red letters next to your name. Regarding the question ‘would I be arrested?’ the answer is definitely not, as bankruptcy is a civil and not criminal procedure.
Feel free to call us with any further questions or for bankruptcy help on 01425 600129 / 07479 739139 / 07894 481175
There are surprisingly few professions that are directly affected by bankruptcy and nursing is not one of them. We have taken literally hundreds of NHS staff through bankruptcy and have never heard of any repercussions.
In terms of applying for work, you would be obliged to answer the question ‘have you ever been bankrupt’ honestly, but please bear in mind that your name is removed from the Insolvency Register 15 months after the bankruptcy took place. We would be surprised if the question was asked in relation to Nursing – it is normally asked when applying for financial services, accounting and legal positions.
Bankruptcy UK offers bankruptcy help across the board and will submit your application online. Court appearances for bankruptcy are no longer required. Feel free to call us on 01425 600129 for a chat about your circumstances.