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 Does discharge happen automatically after 12 months with no IPO ?
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Steven.w
Starting Member



9 Posts

Posted - 31 October 2016 :  23:20:36  Show Profile  Visit Steven.w's Homepage  Reply with Quote
Hi Lisa, I was declared bankrupt on the 28th Oct 2015 with no IPO and now 12 months have passed is there anything I actually need to do or anyone I need to contact with regards to the discharge or does it all happen auctomatically. I would like to get a credit card in order to start rebuilding my credit but I assume I will need a discharge letter in order to do this? Many thanks, Steve

Niobe
Administrator



United Kingdom
4582 Posts

Posted - 01 November 2016 :  08:43:40  Show Profile  Reply with Quote
Hi,

You should now be discharged (check the Insolvency Register to make sure) but the BR will remain on your credit record for the full six years so you are unlikely to be able to get a credit card at the moment.

You should be able to print off a copy of the discharge from the Insolvency Service otherwise it will cost you to obtain one. Used to be £60 I believe.

https://www.insolvencydirect.bis.gov.uk/eiir/

The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant


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Steven.w
Starting Member



9 Posts

Posted - 02 November 2016 :  21:53:55  Show Profile  Visit Steven.w's Homepage  Reply with Quote
Thanks Niobe, I have just checked via your link and I have been discharged. With regards to the credit card and rebuilding credit, I have heard that Vanquis will potentially offer a credit card to discharged bankrupts?


Edited by - Steven.w on 02 November 2016 21:54:28
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Niobe
Administrator



United Kingdom
4582 Posts

Posted - 03 November 2016 :  08:26:30  Show Profile  Reply with Quote
You can but try - I suggest though that you make sure they do a soft search so that it won't show on your credit record.

The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant


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mrsdp2009
Starting Member

United Kingdom
7 Posts

Posted - 10 November 2016 :  10:31:11  Show Profile  Reply with Quote
When i was discharged i applied to a company called Aqua i've had the card for years now and have never went into interest and also pay off the full balance .It has really helped my credit rating...you start with a small limit £250 and it progresses every few months,the only thing i'll say is though that you must make sure you spend within your means ,make payments on time and never go over your limit as it can have a very adverse affect on your credit score :)
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Niobe
Administrator



United Kingdom
4582 Posts

Posted - 10 November 2016 :  10:38:46  Show Profile  Reply with Quote
I would definitely suggest doing the soft search as some people have been declined from Aqua and Capital One and of course that does have an adverse effect on your credit rating.

The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant


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Lisa Thomas
forum expert



United Kingdom
35 Posts

Posted - 15 November 2016 :  11:29:27  Show Profile  Visit Lisa Thomas's Homepage  Reply with Quote
I agree you can approach Vanquis (and take care with the level of credit you take and ensure you always pay the balance off in full every month) but your credit rating won't improve properly until 2021 I'm afraid.

Contact me on 01752 786800 or Lisa@nevilleco.co.uk
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