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Credit Card experience after BR
Hello I just wanted to share my experience with credit cards after discharge in case it helps anyone else on here. I still occasionally take a peek on life after bankruptcy topics on this forum. I was declared BR 2.5 years ago and have been discharged 1.5 years. 6 months after discharge I applied, and was accepted, for a…
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Car
Quick question about my car. If the receivers deem I do not need it (possible from what I read) how long do they give you before they come and take it off you? Is it a case of you file for bankruptcy and it's gone the next week, or is it shortly after your interview? Or weeks and weeks later? Anyone know?
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Completeing a IPOQ
hi I am so scared I have just completed one of these for a non potentional or a potential payment arrangmenet. I am now 6 months into my bankruptcy do these figure look ok My income after tax £1140 month Husband £2130.00 month Child benefit £82.00 month Rent £650.00 per month Council Tax £150.00 per month Contents £15.00…
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Getting a mortgage as a discharged bankrupt
Hi, not sure if this is the best place to ask or not. If not please move or close... I was discharged from my bankruptcy in February following my business going tits up. Since then I've got a full time job and earn 30k P/A. My girlfriend has a perfect credit score and earns 32k p/a and has around 20k in savings. A few…
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Lease - When debt incurred?
Hi everyone. New user here. I had a small import business which has suffered due to the weak currency and stopped training. Sole trader so the business debts are mine and I have decided the only option is personal bankruptcy. Am filling in the form and wondering what happens with my business lease. It still has 2 years…
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advice regarding letter from a liquidator
I received a letter via my accountants (registered office) the other day, from a liquidator for a company I previously did work for, claiming that I was paid money from them after a petition for liquidation was raised, and therefore requesting I write them a cheque back (payment in question was in 2012) the winding up was…
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bank account and 'setting off'
hi guys I currently already have a Barclays basic current account that I have changed all my direct debits to and salary, however I also have a Barclaycard which is going to be included in my BR, do I need to change to another bank account? I plan to file for BR on the 26th which is my pay day, leave in enough money to…
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HMRC enforcing Bankruptcy
Hello Im posting this on behalf of a friend I have been supporting through a difficult time but would really appreciate any advice on his now impending Bankruptcy. My friend has ended up in a dire situation where he has lost his business and his home and is now living in his parents holiday home working in a low paid…
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Qustions about applying for bankcruptcy
Hi all This has been a very hard decision for me but after a lot of thinking and calculatuions Iv'e realised my only way out of my ever mounting debts is to apply for bankcrupty but before I do I have a few qustions I hope somebody may be able to answer. I obviously understand there's a fee to pay when applying for…
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Facing up to bankruptcy!.. need help!
Hi Everyone, Ive been reading posts on here for a while and finally facing up to the possibility of bankruptcy! I owe approx 35k in Overdrafts, Credit Cards and a payday loan and im so annoyed with myself I let things get this bad! Due to gambling and general over spending, balance transfers and ending up using cards again…
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IPAs are changing
Hi all, The way IPAs are assessed is changing - or actually did change on the 3rd April 2017. The Household Expenditure Survey (HES) with its guidance allowances for expenditure is no longer used. Instead, the Money Advice Services Standard Financial Statement (SFS) is now used to assess what reasonable expenditure may be.…
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Foreign property
Firstly, sorry for the essay but please could anyone give me some advice or relate their experiences? In March 2016 my former partner was declared bankrupt by a creditor/former commercial landlord for a debt of approx. £80k for rent owed and legal costs. This was approx. 16 months after a CCJ was issued. Unfortunately at…
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IVA & Marriage Tax Allowance
I can't seem to find any advice online about this so would really appreciate any info on this. My husband is about half way through his IVA.My credit rating is fine. I stopped working in January and so for this coming tax year I won't be earning any money. I want to apply for the marriage tax allowance however before I do…
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Bank Accounts and Benefits
Hi everybody. After a bad few years I have been advised bankruptcy is my best option of debt relief. I only have income of tax credits and child benefit and husbands student finance which all don't count as income for IPA. Currently me an my husband are closing our joint account which had no debt/savings (had tax credits…
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HMRC Debt no option but bankruptcy
Hi everyone, Been on here for the last month just trying to find some kind of idea where to turn and what to do. Its been a fantastic eye opener, the information on here is priceless and not only that you fell like your not the only one with this kind of issue. My story, self employed sole trader with a vat inspection…
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How long until debt is removed from credit file?
Hi all, Just had my monthly email from Clearscore with my credit report. Since the bankruptcy all my accounts have been marked as settled/closed other than two. One is a Tesco loan of approx £11,000 (Tesco credit card shows as settled) The other is Capital One credit card for approx £600 How long will these take to update?…
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Credit card utilisation after bankruptcy?
My partner (bankrupt a few years ago) has been approved for a credit card. She only got it on my advice to rebuild her credit score and has agreed to give the card to me for safe keeping. I'm wondering if the aim is to build her CS up is it better to put it away or use it for small purchases and pay on time? The card limit…
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Help needed
Does anyone have any experience with the Accountant In Bankruptcy's "Fair and Reasonable Test"? My DPP's 21 day creditor response time period has elapsed. I've been left with 1 rejection out of all my creditors meaning the DPP has to go to the F&R Test. My bank rejected the plan claiming that payment offered didn't cover…
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Mortgage k16 search, 10 years post bankrupt
Hi All I was discharged 10 years ago. Am now about to buy first home ( fingers crossed) I have passed the hard credit check DIP and full mortgage application going through as we speak. Credit rating now is excellent and have the usual credit cards etc as if there had never been a problem in the first place. What I am…
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Bankruptcy pending - IPA Job
Finally i have a date after waiting a very long time.. My concern is an IPA as i have two jobs and working all hours and to be honest i dont see the point in working both jobs just to pay any money i earn to the OR. Do i get a nil tax code and and I'm my date for court date is end may I earn £25k from my main job and tax…