djamal-soft
الأحد، 27 يوليو 2014
In times gone by, bankruptcy was a major social stigma and spelled the death knell for individuals and businesses, in so far as reputation and future credit went. It was a matter of honour for many. You had to be at rock bottom financially with very little option but to declare yourself a bankrupt and all that it entailed.
This form of spiraling financial disaster can sometimes lead to bankruptcy and drastic action by creditors in the form of debt collection agencies. Debt collection methods can include seizing goods, cars, and sequestering bank accounts, leaving the debtor with the original debt and no goods. This is never fun.
It is a matter of public record in that the Official Receiver has to advertise the fact that you are applying for bankruptcy proceedings. The advertisement is usually in local and national newspapers or official publications such as the London Gazette, depending on your circumstances. The person handling your case will also have to inform certain companies and institutions who may have an interest in your financial situation.
If you have entries such as default of payments from previous loans or you are and existing bankrupt or a discharged bankrupt, lenders will probably refuse your loan application. Be aware that if you make inquiries about a loan from several lenders at the same time by way of comparison, your credit file will now have several entries in it. The lender may turn you down for a loan because of that. By the same token, while one lender may refuse your application, another lender could just as easily accept it.
It's all about profit, after all.You can apply to see the contents of your credit file for a fee. There are usually several credit rating agencies and a quick Google will often provide you with the contact details for each agency. Check the contents of your file from the report that you receive from them. Inform the agency of any errors so that they can amend your file. I once noticed an entry which was obviously my son's application for a loan and the agency had mistakenly added it to my file. Even if the agency refuses to amend your file, it is your right to have your comments as a "note of correction".
This form of spiraling financial disaster can sometimes lead to bankruptcy and drastic action by creditors in the form of debt collection agencies. Debt collection methods can include seizing goods, cars, and sequestering bank accounts, leaving the debtor with the original debt and no goods. This is never fun.
It is a matter of public record in that the Official Receiver has to advertise the fact that you are applying for bankruptcy proceedings. The advertisement is usually in local and national newspapers or official publications such as the London Gazette, depending on your circumstances. The person handling your case will also have to inform certain companies and institutions who may have an interest in your financial situation.
If you have entries such as default of payments from previous loans or you are and existing bankrupt or a discharged bankrupt, lenders will probably refuse your loan application. Be aware that if you make inquiries about a loan from several lenders at the same time by way of comparison, your credit file will now have several entries in it. The lender may turn you down for a loan because of that. By the same token, while one lender may refuse your application, another lender could just as easily accept it.
It's all about profit, after all.You can apply to see the contents of your credit file for a fee. There are usually several credit rating agencies and a quick Google will often provide you with the contact details for each agency. Check the contents of your file from the report that you receive from them. Inform the agency of any errors so that they can amend your file. I once noticed an entry which was obviously my son's application for a loan and the agency had mistakenly added it to my file. Even if the agency refuses to amend your file, it is your right to have your comments as a "note of correction".
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