Anniversal

Having gone through the six years of the bankruptcy process (as I’ve written about many times in that period) today marks a year since that process completed. Time flies, and all that rot.

It’s the final real anniversary of any significance though – even though it came off my record a year ago, most of the banks work on a “Six years plus one” basis (fuck only knows why, but that’s their choice) when it comes to ‘full’ current accounts and the like.

So that’s where we are now – the full “six years plus one” is complete.

It shouldn’t affect things much – it would be nice to have a ‘full’ account with overdraft facility and so on , but only because that’s another thing that is good to have.  I’ve done fine over the last seven years with no overdraft and never needing one, and I don’t see any reason why that would change now.

However, it does mean I’ll almost certainly move away from my current bank’s offering, purely because they were lying dicks about it all the way through the process. Once I’d gone through the first year where I was officially bankrupt, I was fine to have a basic current account. When I got it, I was totally honest with the bank, and they said I could try to apply for an upgrade to a ‘full’ current account on a regular basis (every six months or so) and see how I did.

It was only after three years that anyone mentioned that they wouldn’t give me an account until the “six years plus one” – ‘but it’s not that we have a policy, sir, it’s just that’s how it works, we won’t do it before then‘ – and so had basically lied and wasted my time for all those reviews.  That did cost them money in the end – a complaint went all the way to the Financial Ombudsman, who found in my favour.  (The rule in this case is keep a record of all paperwork and appointments, so you can show a history of wasted time, and stuff that you wouldn’t have done if they’d been honest and said to not bother for seven years!)

So yes, I’ll probably change banks for the current account – I’m not yet sure who to, but we’ll see what happens.

But the most important thing really is that now, seven years on, there’s nothing else keeping me back.

3 thoughts on “Anniversal

  1. Lyle says:

    I’ve been using them now for about two years – highly impressed, although as yet I haven’t moved over to using them as the full current account.

    But they’re definitely one of the likely options.

  2. Z says:

    Well done. An extended family member went bankrupt, voluntarily, some years ago and similarly pulled through it and has never had financial wobbles again. Years ago, he told me he’d got £1000 in savings for the first time in his life and is now worth a lot more in financial terms and even more personally. It takes a lot of effort and a change in outlook, but it’s worth it.

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