Hi,
I am currently contemplating the UK Bankruptcy route - no need to go into specifics as I have already made up my mind. One thing I am concerned about is the after effects of having a bad credit rating. Obviously a default on my mortgage loans will result in a black mark on my credit rating for 6 years, but does anyone have any real life examples of how this can effect you?
I am working on the assumption that I will not get a Credit Card or loan of any sort for at least a few years (if not all of the 6 years during which my credit rating is affected). Are there any other practical things that this will cause difficulty with?
Thanks in advance for any comments.
I am currently contemplating the UK Bankruptcy route - no need to go into specifics as I have already made up my mind. One thing I am concerned about is the after effects of having a bad credit rating. Obviously a default on my mortgage loans will result in a black mark on my credit rating for 6 years, but does anyone have any real life examples of how this can effect you?
I am working on the assumption that I will not get a Credit Card or loan of any sort for at least a few years (if not all of the 6 years during which my credit rating is affected). Are there any other practical things that this will cause difficulty with?
Thanks in advance for any comments.