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Contemplating Bankruptcy


Dinkjames
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Hi all

 

Just need a little advice. I am currently considering going down the bankruptcy route as things are getting out of hand and it is all getting me down.

 

I was wondering. What happens to defaults that are registered with the CRA's when you go bankrupt? Do they change in status and also come off you credit record when you go into bankruptcy or will they remain for the six years from registration date?

 

I realise that bankruptcy will register on your file, but it may be easier to rebuilt your credit record after you have been discharged after a year than to try and rebuild it with 5 defaults sitting there for 6 years.

 

Thanks for any advice.

Please note that I am not a solicitor or legally trained. The advice I give is from my own personal experience based on my own personal circumstance. If you choose to follow any advice I may give, please make sure you understand the implications of following that advice. :-)

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i think the original defaults remain there,

 

they did with mine anyway

 

ida x

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