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reversing transactions
when an individual has gone BR and has disposed of assets it is said the IP can reverse them. how is that carried out? eg say £3000 was given back to a relative as it had been lent in the past. but now the money has gone/been spent? or a car is sold under value to a stranger?
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TotalDespairs Daft Thought
Is this doable. OH BR is booked for Nov 6th and has just informed me that he is being moved back to the BT near to where we live, ( think redundancies here but will deal with that if it happens). So scenario is, he has a car worth £4.5k and outstanding HP finance of £8.5k with originally GE Money now Santander ALL payments…
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IPA question
Hello there We are due to go br in November and have been told by the CCCS that we will probably get a small IPA. We think that our income will probably increase in April/May time, not by loads, but I understand we will need to tell the OR this. My question is how long, if you have an IPA, do you have to inform the OR of…
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Is Bankruptcy My Best Option?
Hi, I have recently been off work for 4 months with a slipped disc, I am a childminder and didnt earn any money during this period. Before my illness I was managing to keep up with all my payments for my loan/credit card. I contacted the CAB and they managed to get my loan payments reduced to £50 a month for 4 months, I…
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SOA Advice please - panicking once more
:( :(:( Hi, I will be filling in my SOA on Wednesday, OR interview next Monday 28th - so am sure I will be back to you lot for more invaluable advice... In the meantime, can anyone tell me what is an acceptable weekly grocery allowance? (me, OH and 5 year old) Online car valuations are coming in between 1700 - 2800! But…
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Bro/bru
hi there just a quick question i am bankrupt and paying an ipa of £106 pm my OR wants to give me a bro, they are saying if i go to court they will apply for an 8yr BRO they are offering me 7yaers BRU if i dont go to court.My question is can i negoiate this as i think a one year reduction is a bit mean for not going to…
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examiner
Ok im getting nervous again now, we have the examiner calling tomorrow. dont know what to expect but there is this. got no choice. HELP.!!!!!:eek:
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Why would your creditors not accept some small percentage or get nothing in BR ?
I'd rather avoid BR if I could but I don't think I can. I could owe £100k though between £50k and £100k is more likely. What I don't understand is this. If I go BR, my creditors get nothing. So why would they not accept say 10% or 20% though that would have to come over time (but could be in a year) ? To me it is a no…
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Inheritance when BR - can you get around it ?
What are the rules for inheritance when BR ? Could you perhaps, just not receive the money until after you were discharged ? or would it count on the day the will was read ? or when they died ? Anyone know how it works and how to make sure you don't lose the inheritance ?
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Providing bank statements
I'm a bit worried about providing bank statements as proof of my income. My current total income is £80 p/w which I have no trouble proving, but since I have obviously stopped paying debt repayments and I have been selling off belongings on ebay to put towards a potential flat deposit and rent, my account doesn't look like…
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unfair co-op charges!!!!
Hello everyone... I recently tried to purchase something on ebay but because of an issue at the sellers end the purchase was cancelled. I received an email from paypal saying that the transaction was going to be refunded. A couple of days ago i received a letter from the co-op saying that as there wasn't enough funds in my…
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Really pleased, I'm growing and no longer a door mat.
Here's the thing. We're now renting and have managed to sort out all of our utilities. Talktalk could not provide our internet in our new area so I had to look else where. I went to BT who bizarrely said I past their credit check.. hmmm, think it was a check to see if I owed them money but that's better for me. All systems…
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Money when about to go bankrupt
Wondered if anyone could advise. We are due to go bankrupt in November. We have an insurance policy running out in October for payment protection we have on a loan secured to the mortgage. The payment is around £16000. Nowhere near enough to pay our debts but still a significant amount. Just wondered what would happen to…
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OR Interview - I&E Probs
Hello I had my OR interview and it was positive - I am allowed to keep my car for work I did have something disallowed, these were: Gas - £90 a month, now I have been paying £60 a month for two years and run up a £600 bill so had to increase to £90 a month. He said this was way too high Elecy - £90 a month again too high…
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IPA, RTLU and Moon Beever
Hi, I'm currently on an IPA and was recently transferred from the OR to the RTLU. The OR told me that if there is any change in my income from now on, I will need to inform Moon Beeever, who are responsible for collecting the IPA. My questions are: 1. When, if at all, am I likely to hear from the RTLU, prior to automatic…
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Bankruptcy Advice
Hi All, Im new to the forum but me an my partner need advice on going bankrupt I currently work but my partner is off sick probably until she goes on maternity leave in December. As she has now gone on sick pay we are now starting to struggle to make the payments to our loans and credit cards. We both want to go bankrupt…
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Tax and self-employed when BR
Hi, When I had my interview with the OR (or rather the examiner), she didn't know what happens with my self-employed tax situation and said I need to contact Inland Revenue? Is this correct? Will they issue me with a new tax code or do I just pay it as usual? They were included in my list of creditors but haven't heard…
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Savings Account when BR
Hi Folks, I want to open a savings account so I can put my tax aside (am self-employed). Firstly is this allowed when BR? Secondly can it only be with Co-op or Barclays (like your ordinary bank account)? Thirdly do I need to inform the OR if I'm opening another account? I did have a savings account (with nothing in it)…
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Possibility i could be
Made redundant in the next week. There have been a few lay offs and there is more next week, i have no idea if am staying or not till next week when i get called in for a one to one meeting that everyone is having. A lad got 3k payout after being there 4 years, i have been there 5 so i presume i am getting a similar payout…
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Too complicated & going round in circles
Been on and off here for over a year. Major update. Outstanding debt (joint) £107,000 (repo/loans). Currently renting (extortionate and freezing), husband made redundant 3 weeks ago, landlord putting rent up "considerably" in Jan, filled in BR forms and are in handbag to send tomorrow. Question 1 - will the landlord be…
