Post-Bankrupt

[rjharvey]

Hi All,

I was discharged from bankruptcy on Feb 14th 2014, and I need to notify the credit agencies etc that this is the case. I am aware that you can pay for a certificate to say this is the case, but I am sure that you can also have a letter sent (or something like this) for free from the OR? Is this the case? If so, I will write to them requesting it today.

Secondly, when I was declared bankrupt, I had my car on HP, to the outstanding value of about £9k. The OR asked for my policy details for it etc in Feb 2013, and I haven't heard anything about it, so they have left the car with me. Am i right to presume that this was now included in the bankruptcy estate?

Thanks!

[Nibbler]

Re: Post-Bankrupt

Apparently you can email discharge.queries@insolvency.gsi.gov.uk

and they will need...

1) Your current and previous address

2) Date of Birth

3) National Insurance number

4) Bankrupt number of what year and what court (should be on bankruptcy paperwork EG...207/2009 if you dont have contact the court you attended)

How much is the car now worth?

[meellis]

Re: Post-Bankrupt

The car will be between you and the finance company to sort, if you have kept up the payments and they are happy then just carry on, the OR wouldn't have been interested if there was no equity involved. Just because you have been discharged doesn't mean your whole estate and creditors have been dealt with and finished though you will need to receive notification of that. Why do you need this certificate not many people ask for it and the whole thing stays on your credit record for 6 years anyway. I requested a letter from the OR but it was fairly non committal it just stated that as far as they were aware I would have been automatically discharged on such a date and they hadn't been made aware of any arguments contrary. Did you have much for them to sort and have they been chasing much? As for notifying the agencies then any creditors should do that when they are satisfied anyway but some will leave their mark for the full 6 years.

[rjharvey]

Re: Post-Bankrupt

Apparently you can email discharge.queries@insolvency.gsi.gov.uk



How much is the car now worth?

Well it is a 56 plate Punto, the existing finance I mentioned above was the result of a previous HP agreement being added onto this one, but looking around I reckon it is worth maybe 2-2.5k?

I haven't made a single payment to the finance company for pushing 18 months now,and I have had no communication from them during this time either?

[rjharvey]

Re: Post-Bankrupt

The car will be between you and the finance company to sort, if you have kept up the payments and they are happy then just carry on, the OR wouldn't have been interested if there was no equity involved. Just because you have been discharged doesn't mean your whole estate and creditors have been dealt with and finished though you will need to receive notification of that. Why do you need this certificate not many people ask for it and the whole thing stays on your credit record for 6 years anyway. I requested a letter from the OR but it was fairly non committal it just stated that as far as they were aware I would have been automatically discharged on such a date and they hadn't been made aware of any arguments contrary. Did you have much for them to sort and have they been chasing much? As for notifying the agencies then any creditors should do that when they are satisfied anyway but some will leave their mark for the full 6 years.

The note would be to take to my bank local branch, to basically prove that I am discharged and to aid with them potentially allowing me to open up a savings account etc?

[meellis]

Re: Post-Bankrupt

You will be very limited with bank accounts probably only a basic one at either the co op or Barclays, not many banks do them. I found a pre paid card a life saver and still use it for the majority of my life now. A good one can help to start building your Credit rating again as well as offering you some of the facilities of a bank. As for the car they are probably thinking it is not worth chasing financially, are the finance company aware and has the debt been included in your estate.

[rjharvey]

Re: Post-Bankrupt

You will be very limited with bank accounts probably only a basic one at either the co op or Barclays, not many banks do them. I found a pre paid card a life saver and still use it for the majority of my life now. A good one can help to start building your Credit rating again as well as offering you some of the facilities of a bank. As for the car they are probably thinking it is not worth chasing financially, are the finance company aware and has the debt been included in your estate.

I'm with Barclays now, but am looking at starting a saving account, but need to go in to discuss options.

The co-op I was with previous, but I found them to be a load of crap personally with the way they handled me and my affairs.

With regards to the car, I'm not sure if it was included, but when I had my OR interview back in Feb 13, they asked why I needed it, I answered it and then heard nothing since. I'm sure the finance company would have been aware because I passed over all of my policy details etc to the OR.

Would I be in a position to sell the car (bearing in mind it had HP agreement in place, but this hasn't been chased for near on 2 years, and I've been bankrupt in between)?.

[meellis]

Re: Post-Bankrupt

I would have thought any hpi check on the car would show up outstanding finance and because nothing as been finalised you don't really own the car. The truth is that trade the car would probably be worth less than it will cost for them to get back which is one of the reasons they aren't chasing and they might also be waiting for the receiver to finalise the accounts to see if they are due anything. You are right about the Co-op but Barclays were one of my biggest creditors in my bankruptcy and now looking back they were probably one of the biggest contributory factors. I wouldn't rush to get a savings account because you will be limited and you will not get a good return with interest rates the way they are. Because both of these banks aren't great is the reason why a pre paid card proved good for me but not sure what I will do if I ever get money to save.