I have yet to meet anyone who has gone through bankruptcy, and didn't find it stressful. My advice to anyone contemplating a declaration of bankruptcy, is don't do it unless there is definitely no other reasonable course of action. This action will stay on your credit file for a minimum of seven years, and even up to three years after you are discharged you may find it difficult to get mainstream finance.
The GOOD NEWS is that we still have lenders who will look to assist wherever possible to help you buy your house, even if you have just been discharged from bankruptcy. You will need a reasonable deposit, and the interest rate is also higher. If you would like to discuss you situation, simply fill in our Application Form, and tell us when you were discharged from bankruptcy. We will phone you to discuss the situation.
Save your house - If you finances are spinning out of control and you are worried that you may lose your house, apply immediately and ask us for help. We have saved a lot of clients from losing their house and kept them from going into bankruptcy.
More Information - Click on the ITSA link to go to the government website for more detail on the terms and conditions of bankruptcy. There are differences between Part 9 and Part 10 bankruptcies that you need to know. Read this before you declare yourself bankrupt.
Looking Ahead - Yes we do have lenders who will lend to an ex bankrupt. If you have a reasonable deposit then you have a very good chance of re-establishing yourself and buying your own home. Once you have shown that you have got over your problems you will shake off the affects of your past bankruptcy, but it will take a few years. Interest rates will initially be higher than otherwise available.
We can give you an indication of what rates would apply in your circumstances as long as we have all of the information usually required for a loan application.
Yes we can accept an application. Simply complete our standard application form, and fill in as much as possible. At the bottom of the form tell us when you were discharged, and we will contact you to discuss your options. Click on the "apply now" button at the bottom of this screen, or this link and fill in the form.
