Bankrupcy

Discussion in 'Finance, Property, Law' started by captin_thunderpants, Apr 14, 2007.

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  1. have been told if i declare myself bankrupt, i have to inform the army, why is this?, can anyone tell me the currnet policy on bankrupcy.
     
  2. Because you are a potential security risk - you could be open to blackmail / bribery to help you clear your debts. Not saying you would, but that's the way the Army sees it.
     
  3. just do it if it solves your problems, quality of life comes first, after all, a security risk shall be the next RP J/SNCO.

    Good luck.
     
  4. Question why are you thinking of going bankrupt ?

    Is it to do with debt against banks/credit cards ?
     
  5. yeah it's because of loans and credit cards that sort of thing. it all started when i bought a house to rent out(thinking about the future), however things went drastically wrong. i had tennants who didnt buy the rent then squatters who trashed the house. now i have rising damp and am unable to sell it.
     
  6. If you need help with getting your money back because of charges and giving you bad credit and stopping them harrassing you go here

    http://www.consumeractiongroup.co.uk/forum/

    Im chasing the halifax for under £6000 :)
     
  7. Went Bankrupt in April 2003, it lasted two years then i was automaticaly discharged April 2005.

    You then need to apply to & pay the court 60 quid for the Discharge Certificate which you need to send a copy of to all the Credit Reference Agencies so they may amend their records, if you dont do this they will not change their records & you will still be classed as Bankrupt which will affect you getting further credit & Bank Account's etc.

    The official receiver may seize any assets you have & may take an amount from your income each month.

    I found the most hassle i had was after the Bankruptcy & trying to clear the records and obtain a new Bank Account, & more recently a Mortgage..

    Only do it if its the last option, as even after Discharge your name is still on the Land Registry for five years & will affect a Mortgage Application & its on your credit file for six.

    Hope this may be of help
     
  8. thanks to everyone who has replied, am still a little unclear, what will happen in work, have heard stories that people get discharged for being bankrupt.
     
  9. Ive heard that too, try asking about first thou, dont need anymore on your plate
     
  10. Cant help you out on that one as i had left when i had mine, but its looked into when you sign up as a way of telling you are reliable etc.

    It was a major stress release once the debt was all gone, even the judge said "I trust you will now be able to sleep well again" & he was wright..


    Marky
     
  11. Markymoon,

    I was discharged as bankrupt in 2005, and didn't realise I still had to get a letter and clear the records myself.

    Can you give me a bit more info on that? Which credit reference agencies must I contact, and is it back to the county court that I must go for the letter?

    Help would be greatly appreciated.
     
  12. Yeah no worries, will put the needed info up asap mate..
     
  13. These are the three main Credit Reference Agencies used by anyone doing a Credit Check on you, including HMG.

    Callcredit Plc
    Customer Services Team
    PO Box 491
    Leeds
    LS3 1WZ
    0870 060 1414
    www.callcredit.plc.uk

    Equifax Plc
    Credit File Advice Centre
    PO Box 1140
    Bradford
    BD1 5US
    0870 010 0583
    www.equifax.co.uk

    Experian Limited
    Consumer Help Service
    PO Box 8000
    Nottingham
    NG80 7WF
    0870 241 6212
    www.experian.co.uk

    You should have been given this info when you became discharged by The Insolvency Service, but they dont seem to be too arsed about informing you of this.

    You need to contact the court you were made Bankrupt at, give them your case number and they will ask for the 60 quid and issue a form 6.77 (Certificate Of Discharge) which you then send a copy of to the above agencies with a letter explaining who you are and the circumstances.
    You can also on request get a letter from the Insolvency Service stating that you are now Discharged, but most Financial Companies dont except it as proof.

    Anything else about it just ask

    Mark
     
  14. Did'nt realise i had to clear records either untill i needed a Bank Account, Mortgage etc, they dont tell you this, the barstewards!