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I am bankrupt and received a letter from PRA GROUP
Hello, Could you please help me understand what this letter mean ? I have been made bankrupt at the end of august 2019. 3 months ago. Today i received 2 letters from PRA GROUP telling me they bought one of my debts from Aqua credit card and although they say = this i snot a payment demand- further down the page they write…
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Trust Deed and Self Employment
Hi, It is looking increasingly likely I will be forced down the route of a Trust Deed due to an impending tax issue. I currently run a small catering business, i operate as a sole trader, which employs three people - two part time and one fulltime. The business is profitable outside of this isolated tax issue and theres no…
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Life insurance and buy back?
I was declared bankrupt in June 2018. OR wrote last week about buying back the beneficial interest in my life insurance policy. It will cost £50. I'm a bit confused though: - Is it worth buying back to life insurance policy? I've had it for about 9 years. - Can I not just cancel the policy and get a new one? Or would this…
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Sale of flat during bankruptcy
Hi all....I am in the process of selling my flat (Joint owned with wife) . A creditor has put a final charging order on property which I will pay on sale leaving me with very little for my share of equity. The same creditor has also petitioned for bankruptcy!!! If I am made bankrupt before sale of flat what are the…
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Close to Bankruptcy
Hi, I am not sure if this is the right forum to place my questions, but I am desperate. I have just had the High Court Baliff (The Sheriffs Office)turn up on my door step for the first time over a £4500 dept. I had managed to pay £3800 of it last week direct to their office which left £700 . That was all the money that I…
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I've been stupid and I'm terrified
So long story very short....been on a DMP with Stepchange for several years which has been running fine. I've got myself into debt through gambling this last few months and to clear it all I took out a bank loan of 14k to pay it off which I realise was silly because a) I can't afford it and b) it goes against the rules of…
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Forced bankruptcy
Hey, Can anyone help? Council tax arrears. Been summoned to a sequestration hearing on 10th December. What happens from there? Does everything get froze from there or does it take some time? We receive some benefits, do they look into that or do you just advise benefits are claimed? Will it take sometime from when it’s…
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Sequestration question
Hello I am considering applying for sequestration. I am a disabled veteran and receive a war pension and state benefits as I am unable to work. I receive a carers allowance which goes towards providing me with personal help and assistance with jobs around the home I can’t do myself, I top this up from my pension and…
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Bank still chasing payment after BR
Hello I was made bankruptcy in may 2019. All the letters from my creditors have stopped apart from one from Lloyd’s credit card (I only defaulted on the month I went bankrupt and the debt was included with my bankruptcy) What’s the best way to deal with this? Shall I write or email Lloyd’s with my bankruptcy order and…
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Car Ownership
I was recently declared bankrupt and my mum has offered me the use of her car. If I registered the car in my name would OR start hassling me about the car, my mum has a sales receipt to prove she is the true owner? The problem I have is the insurance on the car is considerably more expensive if I am the main driver and my…
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Car Insurance for ex-bankrupt?
Hi all I was discharged from BR over 3 years ago i have been insured by direct line for years, and have just automatically renewed year on year and paid monthly, so my BR has never come into play as they have never had to conduct credit checks- however problem now is i am unable to renew with them as they are becoming so…
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can anyone advise...
my ex husband went bankrupt in 2015, discharged in 2016. The house was the only asset so this went, his business was protected as made into a ltd company 10 months before being petitioned for bankruptcy, he only has one share in said company the rest were given to his parents. They took over the day to day running during…
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Ex partner Bankruptcy and shared home
Hi. My ex partner has defaulted on 3 debts now. 1 credit card at £8600, 1 at £1500 and an unpaid bill of £120. I didn't know about them until i tried to remortgage the house we have as we had split up and i was going to leave. The mortgage advisor said her credit card is at stage 6. I'm not too sure what that means. How…
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Council tax and tax query
Evening all! Just a quick query, when i spoke to a lady at the insolvency service who went through my expenditure with me (was a different person to my OR) she said that my council tax payments would be stopped for 3 months and also i wouldn't pay any tax, i'm sure she said i didn't need to forward the payments on to them,…
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Help!!
Hey ii am new to this forum. Trying to build up the courage to file for bankcrupcy. Both me and my wife are in a major crisis so we would Both have to file for bankcrupcy. Would we have a ipa put in place. I will submit my soa. Thank you Household Information[/b] Number of adults in household........... 2 Number of…
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Soa
Statement of Affairs and Personal Balance Sheet Household Information Number of adults in household........... 2 Number of children in household......... 1 Number of cars owned.................... Monthly Income Details Monthly income after tax................ 1468.69 Partners monthly income after tax....... 315.04…
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Pregnant and about to declare bankruptcy.
I am around 8 weeks pregnant (unplanned but I am happy), my partner and I are currently not living together as the plan was for me to sort my debts before we began living together. That maybe change now given the situation, but I am not sure. My take home pay each month is £1750. My rent, council tax, utilities & tv…
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Advice on Allowances?
Hi All Am attempting to build a budget to present to the OR in preparation for going bankrupt at the end of the month. Is their a reliable source of allowances for living expenses. I've downloaded the spreadsheet from the insolvency service website which is vague putting it mildly! I am not out to max out the allowances…
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Credit card
Could any body advice once out of Bankruptcy which is best credit Card to apply for?
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Bankruptcy and Will
My brother went Bankrupt in June 2019. My question relates to my mum's will. She is only 72 and is unlikely to be going anywhere soon however her Will currently names both myself and brother as beneficiaries (of a very small estate). If she were to pass away before my brother is discharged, would the OR take any money to…