Hi Kerry

Yes, it means you are discharged and debt free - when is the date of discharge?

Is it showing your trustee discharged also?

no just me so far just want to now find options on gaining car finance now?

Hi Kerry,

As tinsoldier has confirmed this means you are discharged. Well done and congratulations.

Securing car finance I think will still be difficult to obtain unfortunately even although you have been discharged. The best advice is to shop around, be honest and up front about your circumstances to see what you can get.

I actually just met with a client this morning for debt advice and they secured finance with a company called The Car Finance Company however their interest rate is 49.56% and the interest they repay is £4,871.36 for a car with a value of £6,995. This is something you want to pay attention to if you secure car finance as you don't want to take on an unaffordable payment. It could be an option to try and save the money you would have been paying to the Trust Deed and purchase a cheap vehicle for cash. I purchased a 52 plate Renault Laguna estate at the start of the year for the dog and I and to use as a ÔÇ£run aroundÔÇØ car and for me to do home visits with clients and so far it's worked out well. I realise that an older car isn't as reliable and perhaps not worth the risk but so far so good. You could do this as a temporary solution until you are able to improve your credit rating and secure finance at a more reasonable level in the future.

That's a horrendous interest rate!

David is correct, shop around and be honest. Perhaps someone you know locally at a garage sells cars and may be able to source a good deal for you?

I think car finance is seen as relatively* low risk compared to other forms of credit though?

I thought the same tinsoldier.

From what I understand with their car they are given a code each month which they put into the car and it allows it to start. If they don't pay the finance they don't get the code and in turn the car won't start.

Oh dear - best avoided. Horrible business practice.

Hi Kerry

Great news about your discharge.

If you have not already done so, you may like to check out your Credit File to ensure all creditors have updated their records, otherwise it will still show the default is live.

The Default date they show should be the same as the Trust Deed signing Date (in order that the default record falls off 6 years after the default date). They should also show the file as S (satisfied) or PS (Partially Satisfied).

If that information is not up to date, you need to contact them and ask them to correct it, usually providing a copy of your Form 5 with signing and discharge dates on it. They are required to report accurately under the Data Protection Act.

Good luck getting a car.

thanks fire walker am discharged on credit angel but creditors not updated when should i start to chase them?

thanks