Rebuild Credit After Bankruptcy | Wollit

Key takeaways

Bankruptcy stays on your credit file for 6 years from the order date
You cannot use Wollit during bankruptcy — wait until discharge
You can start rebuilding as soon as you're discharged (usually after 12 months)
Don't wait for it to drop off — build positive history now so you're ready
Wollit doesn't run a credit check to join

Understanding the bankruptcy timeline

Here are the key dates you need to know:

Discharge (12 months)

Usually 12 months after the bankruptcy order. Most restrictions end here.

Credit file (6 years)

Bankruptcy stays visible for 6 years from the order date.

Fresh start (6 years+)

After 6 years, it’s removed completely from your credit file.

The key: Don\u2019t wait for the bankruptcy to drop off before rebuilding. Start building positive credit history immediately after discharge. When the bankruptcy disappears, you\u2019ll have years of good payment data ready.

What you can and can't do

During bankruptcy:

Can't obtain credit over £500 without disclosing bankruptcy
Can't act as a company director
Can't use Wollit (you need to be discharged first)

After discharge:

Free to apply for credit (though many will decline)
No legal requirement to disclose (but application forms may ask)
Can start rebuilding with products that don't credit check

Your post-bankruptcy timeline

A year-by-year guide to rebuilding after discharge.

Year 1— Foundation phase

Most lenders will decline. Focus on building positive payment history. Wollit and similar products are your main options.

Year 2–3— Early recovery

Some specialist lenders consider you. Secured credit cards may be possible. Positive history starting to outweigh bankruptcy.

Year 4–5— Building momentum

More options opening up. Still higher rates, but improving. Subprime credit cards accessible.

Year 6+— Fresh start

Bankruptcy drops off your file. Your positive payment history remains. Much stronger position than if you’d waited.

How Wollit helps after bankruptcy

Once you\u2019re discharged, Wollit helps you rebuild.

No credit check

We don’t run a credit check to join. Your bankruptcy doesn’t stop you signing up.

Payment reporting

Every month, your subscription payment is reported to Experian, Equifax, and TransUnion.

Rent reporting

Already paying rent post-bankruptcy? Make it count. Report to Experian and Equifax.

What members say

How wrong was I

Never did I think this would do me any good - how wrong was I. It's helped me a great deal. I'm now feeling better about my credit score.

Mr Clifford Sirrell

Exactly what I needed

This is exactly what I needed to rebuild after some financial difficulties. Simple, affordable, effective.

Thomas Moore

Helped me rebuild my credit score

Really helped me build my credit score back up. I found them to be helpful and knowledgeable. Would recommend to anyone trying to rebuild their credit score.

Sarah Magnus

FAQs

When can I start rebuilding credit after bankruptcy?

As soon as you're discharged — usually 12 months after the bankruptcy order. You can't enter new credit agreements during bankruptcy.

How long does bankruptcy stay on my credit file?

6 years from the date of the bankruptcy order (not the discharge date).

Can I get a mortgage after bankruptcy?

Yes, but not immediately. Most lenders want the bankruptcy to be at least 3-4 years old, or completely dropped off. Specialist lenders may consider you sooner with a larger deposit.

Will lenders know I was bankrupt after 6 years?

Not from your credit file — it's removed. But if application forms ask "Have you ever been bankrupt?" you must answer honestly.

I was made bankrupt due to circumstances beyond my control. Does that matter?

Unfortunately, credit files don't record why you went bankrupt. The record is the same whether it was business failure, illness, divorce, or overspending.

Can I use Wollit during bankruptcy?

No — you need to wait until you're discharged. Entering a subscription agreement during bankruptcy could breach your restrictions.

If you're struggling with debt, free help is available from StepChange, Citizens Advice, or MoneyHelper.

Tools & resources

Understand where you stand and what to focus on.

GlossaryUK credit terms like utilisation, hard searches, and affordability Credit score rangesHow each credit agency scores you and what the bands mean Check my scoreA quick way to understand where you stand and what to focus on next

Related resources

After a CCJ — rebuilding credit after a county court judgement
After an IVA — credit building during and after an IVA
Renting with bad credit — how to rent with a poor credit history
Rent reporting — how rent reporting works, eligibility, and setup

Bankruptcy Was the Reset. This Is the Rebuild.

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