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debtrider
Junior Member
494 Posts |
 Posted - 25 January 2010 : 09:46:32
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Is there really any point in getting a certificate of discharge.
First of all it is going to cost you around £60 from what I have heard, and are you really going to find getting credit any easier by clearing your credit history. Surley the credit files will show you were bankrupt and defaulted even though the outstanding balance is satisfied.
Further more do you really want credit again after going bankrupt, I'm sure I don't. The only reason I can see anyone needing credit is for a large purpose such as a house or car. Even then it would be difficult unless you had a large deposit and the interest rate might be high.
Once you have been through bankruptcy then I think it should have taught you to manage your finances a lot better, and only buy things that you can comfortably afford. If you really want something like a good TV then save up until you can afford it, rather than have it on credit.
I personally think it is a dangerous thing to try and get credit again unless you really have to. You don't want to fall into the same trap again.
I'm not saying that bankrupts can never be trusted with credit again, but just be very careful.
Debtrider |
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 25 January 2010 : 09:57:28
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Hi debtrider,
I understand what you are saying.
The first thing to do is to tidy up your credit file - there are blogs on here for what to do - I believe Skippys blog is very good for what to do. Her blog is on her expert contact on this site to the left hand side.
As to whether you actually want credit again is a good point. I think the first thing is to accept that even if a discharged bankrupt wanted credit, it will be a little difficult for 6 years anyway due to Experien and Exquifax etc
I am not discharged as yet, but I have to say when I am in May, I will not be thinking of credit.
Like so many, I have learnt the hard way and I can now manage my financial affairs within my weekly/monthly income - it was hard at first, but it is easy once you have faced the reality.
My family and I had the best Christmas for years in 2009 (last year) as all the presents were paid for there and then - everyone had good presents and a good time, but no debt overhang!
That may be the best way to look at things now.
Good luck, Richard
"Life is generally something that happens elsewhere" (Alan Bennett - author and one of my best heroes!!) |
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debtrider
Junior Member
494 Posts |
Posted - 25 January 2010 : 10:48:37
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I have just looked at skippy's blog with reference to cleaning your credit file and it seems like a lot of hard work to me, especially as there is no gaurantee of getting them all cleared anyway (she still as tescos outstanding.)I admire skippy for trying to do it though.
Still can't see the point of doing this if you're credit rating is wrecked for 6 years anyway. Why not wait and get the credit files cleared automatically after 6 years. If there is anything on your credit file after this time, then I can see a reason for writing to the credit agencies to get them cleared.
Don't get me wrong I would like a clean credit file, but I had around 15 plus creditors and think it would be a lot of trouble in trying to get them all cleared.
In my personally circumstance I can't see it making much difference to my life.
Debtrider |
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 25 January 2010 : 10:58:44
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Ok, Good luck anyway, regards,
Richard Parry
"Life is generally something that happens elsewhere" (Alan Bennett - author and one of my best heroes!!) |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 25 January 2010 : 10:59:23
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You may want to have a look at http://forums.moneysavingexpert.com/showthread.html?t=677875. As well as instructions on cleaning the credit file there is also the following section:
quote:
Why Should I Bother?
This is one that is asked periodically, well…..
Once the accounts are marked as satisfied and the account is correctly closed with the creditor / debt buyer.
They can’t sell it on to another debt buyer, so you won’t get hassled in the future, with DCA that won’t believe you have been bankrupt – There have been instances f this happening 4 – 5 years after bankruptcy where the files have not been cleaned
Your CRFs will automatically clean after 6 years from default/settlement date, so you will have a squeaky clean file from then. – There have been MANY instances where former creditors only close the account off several years after your discharge, thus knackering your CRF’s for many many years. In effect creating a very bad CRF for a lot longer than 6 years and in the worst case I have heard off a full 11 years!!!!!
Your accounts will be marked as settled in the meantime, which ADDS to your credit score
You will be able to rebuild your life much quicker
Peace of Mind!!!!
As you say you could just leave the file as it is and hope that everything gets updated as it should and the debts drop off when they are supposed to.
Each to their own I suppose but when I drop off the Register next month I will start to clean up mine as it isn't really that much hassle. |
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Certificate of discharge
