Formerly Bankrupt
Can I apply for a loan if I have declared bankruptcy in the past?
It may take time to rebuild your credit rating following bankruptcy; however, there are no formal restrictions when applying for loans or credit. However, it is ultimately up to the lender to decide whether they want to grant the loan. There are specialist lenders which can consider lending to someone who has been declared bankrupt in the past.
How long will my credit report show my bankruptcy?
Depending on the credit reporting agency you check, in most circumstances, bankruptcy will show for either
- 2 years from the date your bankruptcy ended or
- 5 years from the date you declared bankruptcy whichever is later.