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Allowances For Outgoings?
Hi, I'm in a position where I have to declare bankruptcy at short notice, complicated situation but I have no option and owe somewhere in the region on £43k to creditors following my recent divorce. I live in a rented 3 bedroom house with my new partner. We both work. I have 2 children aged 10 and 13 which I have for 2…
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Where does a Student put their Occupation/Income?
as Ive mentioned before, my husband is a mature student (no trolls please). We are now at the stage of starting to fill in form 6.28. It doesn't seem to give the option of 'student' in the occupation (employed, unemployed, self employed etc) section, also his Income is Student Loans rather than salary or benefits. Where…
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Handed back keys, will we sstill be liable for shortfall?
Hi guys. we are finally starting to fill out the forms 6.27 and 6.28 and getting ready. Today my DH went to student services at Uni for help and advice with what to put on the forms. We currently have had a court order to vacate the mortgaged house by 4th June 2013, which we did, and have sent back the keys. She said to be…
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Creditor appears to be writing off the debt
(Posted via mobile so formatting may be incorrect) Hi everyone. I'm hoping someone may have been in a similar position to this and can maybe share some ideas or actions. It's almost 5 years now since my partner was made redundant and lost a salary of almost £25k per year. My partner is back in employment but with a salary…
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All ready for next Monday
Hi all Ok so i've finished the forms and sorted the fees. I've just had a final chat with Stepchange who were very helpful and reassuring as usual. All I have to do now is get 3 copies of the forms. I've asked around at libraries and its looking like 15p a copy is pretty standard so i'll be spending around £18. I guess its…
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It's D-day!!
Well i can't believe the day has arrived. At midnight tonight me and the wife will finally be discharged. I have to say the year has gone really fast and it has actually been a good experience. I have had 12 months out of work and and enjoyed spending time with my wife and daughter. I don't plan on going back to work full…
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Bankruptcy or IVA?
Hello all, just after some advice please.. In 2009, I went bankrupt. My wife didnt. We had a joint mortgage. Dial the clock on to now and she has for the past year been paying £20 a month to a company that Lloyds instructed to find her and keep the debt alive. She copped for a huge 120k mortgage shortfall. She doesnt work,…
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Bankruptcy & the wife's house
I petitioned successfully for bankruptcy today. The wife is worried about her house. She owns it entirely and bought it before we met. She has always paid the mortgage on it either from her own salary or from her income from renting it out (when we lived elsewhere). She has also always paid all the bills such as repairs &…
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Rent to buy after bankruptcy
So declared BR April 2013 n moved into a rented house march 2013 n put the negative equity of our mortgages house into our BR SO IN APRIL 2014 we applied to Our council for a rebt to buy property and after all checks etc they granted us the house :-) so we r due to exchange n complete in the comming months. Each month we…
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Defaults showing after BR
Just a quick question. Do all defaulted accounts that are satisfied via the BR still shown as ACTIVE defaulted accounts on the credit report and the balance showing with as satisfied. I am slightly confused as to how they are currently ACTIVE when they are satisfied? Thanks
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Tax on PPI for Discharged Bankrupt
Morning All A situation's cropped up that I can't quite get to the bottom of. Any advice would be welcome. As a discharged bankrupt I complained about PPI to my creditors. The Accountant in Bankruptcy was fully aware of this and supported it. I reclaimed over £10,000. I've recently had letters from MBNA with further…
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lasting power of attorney and bankruptcy
I was bankrupt and discharged 4.8 years ago (not long to go now until 6 years gone by). My mother is vesting lasting power of attorney in me over both er health and financial affairs. 1/ i assume my previous bankruptcy does not preclude me from fulfilling this role -am i correct ? 2/ with financial lpoa,that would normally…
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advise needed please
I am 6 months into BR. I have been sent forms so that they can review my financial status. First problem is a financial adviser filled out monthly income and expenditure at start of BR and tweaked bits of it. I dont have a copy of original and im worried about leaving myself more after expenses . He also put a higher…
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Opening a basic bank account with a creditor?
I have been contemplating BR for a while now, and am getting closer to taking the step. My bank (Halifax) has said they would close my current account if I do and won't offer an alternative. The problem is, both Barclays (a current account overdraft/loans) and Co-Op (one loan) are creditors of mine. Both offer good basic…
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Getting out of an IVA, any advice?
I would be grateful for some advice please. I have had an IVA for a couple of years now and although it has been helpful from a financial perspective, I do not like the IVA hanging over my head. My husband is not in an IVA, its just me. We own a home jointly. There are times where I cannot meet the payments of the IVA and…
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council tax question
Hi all, Officially bankrupt as of 27th may and I have to say the whole process was easy and no were near as stressful as I was expecting. I am unsure however about what happens with the council tax advice have read on here that this gets included in the bankruptcy for the rest of the year. My old home I am giving up as…
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a few questions
hi sorry if this has allready been asked and answered, I have a couple of questions re bankruptcy 1. will all my personal debts be passed onto my husband ? they are in my name only, he no longer lives with me (he moved out last month) and i assume any joint debts (our house was repossessed) get passed on to him ? 2. If my…
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Cash in hand on BR day
Morning everyone, what a beautiful day it is already. Hope it is wherever you are. On the day of my bankruptcy (Monday 23rd), how much money am I allowed to have either on me or in the bank? It'll only be a few days before pay day but I will probably have about £300 in total for shopping and day to day expenses. My child…
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2 months to finish IVA, I lose my job, whats next? advice
ok I lost my job 2 months before my IVA was to come to a end, I stopped all payments, spoke to who I iva with, advised to send a letter form my former employer of my last day of work, which I did, In the mean time I received my annual review letter 3 weeks after sending my letter off, I called my iva company and was told…
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Joint Bank Account Overdraft and both in a IVA
Hi, Me and my partner recently entered IVA together with Payplan after struggling to manage our debt problems for many years. When we listed all our debts are only Joint one was our bank account overdraft. My partner does not work and a portion of my salary is used to pay his IVA. The overdraft was only listed in my…
