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Bankruptcy & living with it

To help people who are bankrupt rehabilitate their finances, without judgment.

Ask a StepChange debt advisor a bankruptcy question
September 2021: We have started a new thread as the previous thread was becoming quite long. If you’re struggling with debt and have a question around bankruptcy, this thread is here to help. There are many trained advisors from the debt charity StepChange here on our Forum ready to answer your questions. They’re…
Credit Reference File Clean Up - Post Bankruptcy
Updated 21/05/2023 by Sourcrates Post #1 - Credit Reference File Clean-up post bankruptcy. Post #2 - Letter to former lenders post bankruptcy. Post #3 - How to raise a complaint with the Information Commissioner. Post #4 - List of Data Controllers. CREDIT REFERENCE FILE CLEAN UP – POST BANKRUPTCY There seems to be a lot of…
Bankruptcy & Living With It Sticky
Useful Forum threads from this board: * Ask a StepChange (formerly CCCS) counsellor a bankruptcy question * This board is for help not judgement If there are any other threads you’ve found to be particularly helpful on this board, do let me know. Related content from MoneySavingExpert.com: * Debt management solutions *…
Credit Reference File Clean Up Post Bankruptcy
Updated 21/05/2023 by Sourcrates Post #1 - Credit Reference File Clean-up post bankruptcy. Post #2 - Letter to former lenders post bankruptcy. Post #3 - How to raise a complaint with the Information Commissioner. Post #4 - List of Data Controllers. CREDIT REFERENCE FILE CLEAN UP – POST BANKRUPTCY There seems to be a lot of…
Debt sold to debt recovery firm TWO YEARS after DRO ended...
I received a letter just over two weeks ago from a debt recovery firm stating they have bought one of my former accounts. The account in question was included in a DRO that ended two years ago, I've gone through the paperwork and can 100% confirm that the card and full balance on the card at the time was listed in the…
Bankruptcy
I'm ashamed to say that I committed fraud because of a gambling addiction. I have received amazing support from various people and organisations and am gamble free and putting the foundations in place to rebuild my life which is difficult with the amount of destruction I have caused and heartache to come. I have no assets…
Final settlement - how much to offer
Good afternoon all, my IVA ends in August next year, I have 1920 left to pay. I'm going to offer a full settlement but wondered if anyone knows what sort of ball park figure to offer that will offer the most chances of it being accepted. I understand that the full amount will get accepted however it's most likely I could…
Tidying Up Credit File
So I went through a bankruptcy in 2019 and since then have not really got involved in any type of credit other than a credit card which I use sparingly. I’m now at a stage where I’m very confident I can use credit responsibly and in some respects need to. I tried to take out a car loan but got refused for everything, even…
IVA - Mortgage Shortfall
A family member entered an IVA in 2015 (mainly due to two properties in massive negative equity) Both mortgages shortfall were included in the IVA and the banks came into procession. Santander sold their property, made the shortfall unsecured and closed the IVA in 2021. Birmingham Midshire defaulted the mortgage and never…
Bankruptcy and home insurance
Hi. I am moving home in the next couple of months, and my partner will be moving in shortly thereafter. She was declared bankrupt in 2009 (significant bereavement and inherited loans on separation). She has never made an insurance claim. Once I knew the details, I added this information to compare the market home insurance…
Limitations Act 1980
I am and NHS worker with one dependent. I have been told to pay back and overpayment in wages under the Employment Act. However, the first monthly overpayment was six and half years ago but accumulated to £11,500. How does the limitations act affect this? Furthermore, i been told they will deduct £141 next seven years. I…
Bankruptcy questions
Hello Everyone I am going to declare myself bankrupt following advice from Stepchange. I am trying yo get all the info they require to get breathing space before my actual bankruptcy. I am on UC and PIP living in housing association property. I understand that this should be a straightforward bankruptcy and I just need the…
Husband filed and paid fee on 9th April … how will he know
Hello and happy Easter 🐣 my husband filed from BR on 9th April, and paid the fee. He hadn’t heard anything yet. It says up to 28 days, will he simply just have to keep an eye on his emails for notification that he is bankrupt? Is that when a bankruptcy order is given …. Or is it after hearing from official receiver. He is…
Bankruptcy and our house
I had a business that went into administration in August 2021. I have quite a lot of debt through personal guarantees, signed solely by myself. My wife and myself recently sold our house and split the equity. She then brough a 1/3 share in a part buy part rent property. My name isn't on anything. Most of my equity went to…
Insolvency practioner failure - property gone bona vacantia / escheat
I was wondering - Has anyone else experienced the above? Basically I've discovered, upon trying to remortgage my house, that my insolvency practioner didn't do the necessary paper work, and my house (that had the beneficial interest purchased) has gone "Bona vacantia" / escheat. It's a year since we started the process,…
DRO Owner of Car
Hi🙂 Just after some advice. When I entered my DRO i did not own a car was using my partners which was financed in his name. That car is about to be returned due to ongoing issues. My parents have said I am able to use their car - they remain as owners of it but ideally would like the logbook in my name as then it’s…
Car Insurance
Hi, I have recently been sequestrated (bankrupt in scotland). I am wondering what people's experiences of vehicle.insurance were post bankruptsy. We had a quote for a vehicle that has been inflated by 1000% of what it was before declaring the bankrupsy. I this the norm? I wasn't made aware prior that we would encounter…
Basic Bank Account
Has anyone who has experienced bankruptcy (issued August 24) been able to get a basic account? I have a fraud marker on my record which is making it much harder but Monzo are in the process of closing my account. Also 12 months into a suspended sentence for the fraud. Which I know is making this task so much harder. I have…
Missold car finance & IVA
So in 2 days time I have finished my IVA but on Friday last week I got an email from my IVA company saying they are using a company to see if I have any car finance that was mis-sold, now what I dont understand is am at the end of my IVA, how can they claim back money once it is finished as the earliest any money will be…
17 Years Post BR
Hello, 17 years ago today I went to the Royal Courts of Justice to file my bankruptcy. I used to be a frequent poster here in the Bankruptcy and Living with it forum but I don't come in here often now. At the time I was so thankful for the financial crash of 2008 as without that I probably would have lost my home. I was…
almost 6 yrs on
hi all. my bankruptcy is officially 6 years old on the 5th march. hopefully i will see all the stubborn accounts that are still on disappear. some have been closed and disapeared over the last 6 years but 4 are atill showing. BEST thing i ever did. fresh start and all the stress gone. i was having ALL my wages on minimum…
Inherit house whilst bankrupt
What happens if you inherit a house whilst bankrupt? Mortgage paid off £320k mortgage outstanding £155k. Bankruptcy debt around £45k. Any advice would be appreciated please. Please no judgement I either go bankrupt or end my life it's as simple as that. I can't deal with this anymore.
Considering Bankruptcy
Hi, I am looking for advice regarding bankruptcy. I owe around £55k in debt, a mix of personal loans, overdrafts, credit cards and car finance. I need to know how my bankruptcy will affect my partner, we are not married but we do own a shared ownership home together. It doesn't have much equity in it, once the legal fees…
IPA - can you quit job before agreement
Was made bankrupt earlier this year, have had IPA interview but didn’t get any advice on amounts, they have come back with figure of 500 month for three years. When I filled out income I put average earnings where 30% of my salary is made up of overtime (55-60 hrs a week) and in my line of work you really are under…

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Bankruptcy & living with it

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