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Debt Relief – Insolvency – Bankruptcy Information » Bankruptcy Help » Life After Bankruptcy

Life After Bankruptcy


If you’re struggling with debts contact Debt Free Direct on 0800 298 8836. When your bankruptcy period has ended, any debt that you owed your creditors will now be legally wiped out and your creditors will be legally unable to try to collect further money from you. Assets which you acquire after your bankruptcy has been discharged will belong to you. You will also be freed of the restrictions of bankruptcy, providing you are not subject to a bankruptcy restrictions order or a bankruptcy restrictions undertaking. Life after bankruptcy is different for each person. Some feel like an enormous weight has been lifted whereas others may still worry about the impact bankruptcy will have on their life in later years. For example, bank accounts after bankruptcy are available however you may need to research which banks will give an account to you. It may be best to open a savings account first. After using it responsibly for a few months you can then approach the bank to ask for a current account. Buying a house after bankruptcy will also prove a challenge unless you’re able to make a substantial deposit when getting a mortgage. If you’re planning on buying a house in the years after bankruptcy then it’s important to focus on repairing your credit rating. Using a credit card responsibly after bankruptcy will help you to repair your credit but again it will not be easy to get one. If you’re struggling with serious debts contact Debt Free Direct on 0800 298 8836 for confidential

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