Yes it will and faster than you think. Many of our clients have been approved for high street credit cards 18 months after discharge, while mortgages can now be arranged within three years of discharge, provided there has been no trouble in the interim.
We guide a lot of people through bankruptcy and have heard of many cases where people are buying furniture on finance just 18 months after discharge, so there’s plenty of hope. To aid recovery, it’s important that you apply for one or two of the ‘credit repair’ credit cards (Capital One, Vanquis, Aqua, etc.) as soon as you are discharged and make regular small purchases and payments in full.
The reason for this is that payments record as a ‘O’ on your credit file i.e. a successful payment and a string of zeroes next to any financial transaction racks up the points on your credit score. Likewise, internet providers such as Virginmedia and BT also have contracts in place which record zeroes for successful payments.
People think that banks will never take a chance on former bankrupts, but we beg to differ. Former bankrupts are completely debt free and are the customers of the future, something the banks are readily embracing.
Bankruptcy UK has been helping people enter into bankruptcy for the past 20yrs and will guide you through the process step by step. We will explain everything in plain English then confirm all discussions by email within 30 minutes. Call us for a chat on 01425 600129 and we’ll explain more.