# Impact of Bankruptcy on Credit Rating & subsequent difficulties it causes



## DonJuan30 (1 Jun 2012)

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.


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