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SOA - Please Advise
Hi all, Preparing everything now to go bankrupt. Please review my SOA below. [font=courier new][b]Statement of Affairs and Personal Balance Sheet[/b][b] Household Information[/b]Number of adults in household........... 2Number of children in household......... Number of cars owned.................... 0[b] Monthly Income…
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going bankrupt
Hi I have over 60k worth of debt after leaving abusive relationship and having to give up my mortgaged home, after they sold it, I was left with £54k debt as well as £2k on council tax for that building. I have debts of £5k-7K on gas and electric and old pay day loans from when I was in the abusive relationship, After…
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Ex husband bankrubt
My (soon to be) ex husband is having to file for bankruptcy. The only thing left in joint names is a small property that we let out that we cannot sell. What can I do to protect myself from his insolvency going forward?
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DRO and buy a car?
When would it be appropriate for someone on a DRO to buy a car of £5000? They have a DRO due to end in 6 weeks and have a job offer requiring reliable transport (not me could i point out)
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Bankruptcy approved, a fresh start awaits
After nearly 2 decades of financial chaos, I’ve finally grabbed the bull by the horns and taken charge of my future. To give a little back story, my partner died 15 years ago of alcoholism related illness and I was left caring for not only our shared child but also his 3 from a previous marriage. Unemployed and unable to…
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Recently off a mortgage
I am failing to find any information for my circumstances so hoping someone can help. I split with my husband and we were in the process of moving, he wanted the new house so I allowed it to go through and then I was to be removed from the mortgage. I have not lived in the house, paid anything towards it or made anything…
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Can this be included in Bankruptcy ?
Please could anyone advise me if solicitors fees can be included in bankruptcy?
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Previous BR details.. help..
Good afternoon folks, So it's nearly 4 years since I declared and all is well.. I'm a truck driver for a living and have to obtain security clearance to access certain sites. Part of the clearance process is finical and I must provide details of what debts I had to the penny that were covered within the BR. I've since…
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Feeling overwhelmed
Hello I recently applied for bankruptcy as I had several bank loans and credit card debt that I took out to pay for IVF. After numerous failed cycles it took a toll on my mental health and I had to reduce my hours and could no longer make the repayments. I have received a bankruptcy order and I am waiting for the official…
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Introduction to my journey
Hi This is the first time I am using this or any forum online. I have had challenges with keeping up with payments and am unemployed for the past 5 months. Having had financial advice from Citizens Advice the suggested outcome is for me to apply for bankruptcy. I don't feel to great about it but I understand how this is…
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2nd time bankruptcy
Hi all, I went bankrupt in March 2016 and unfortunately looks like I may have to go bankrupt again. I have no real assets and 30k worth of debt. Before I get to posting SOA etc could I have any advice from someone who has done it a second time? Thanks in advance.
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10 months silence, then a Debt Collector
We were discharged 8 years ago, May 2015. In March 2023 the Bankruptcy Trustee emailed to us that they
were finalising the Bankruptcy. They
also said that there was a query about the Unit Trust but they did
not give any details about the query. They have not contacted us since. Yesterday evening ( 05 01 2024 ) an email…
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dmp to dro? lots of new upheaval now
myself and my wife are running a self managed dmp for last few months after leaving the step change one. we did the CCA letters almost 3 months ago and set up repayment plans for creditors that proved debt was enforceable., which are standing orders set up by us some never even answered our recorded delivery letters. so…
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SKY
SKY are insisting that a debt was generated after my bankruptcy. But it was generated because they didn't stop charging me. I didn't take out a new contract. It has been passed to debt recovery who are insisting that I should have OR issued paperwork that lists SKY in the bankruptcy. I have my order but that does not list…
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Applying for a judgement to be set aside
I've been discharged from my bankruptcy for almost 3 years. Back in October a court bailiff attended my house to deliver an AOE order for a debt that was named in the order. I filed my defence, providing the BK number, and heard nothing...until monday, when a letter dropped on my mat. This letter states that I need to…
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Car and bankruptcy
I am considering bankruptcy as I have 25k of debt and struggling as a single parent. My major concern is losing my car..my car is worth £5,500. I live in a rural area and need my car for work and also my son has a condition where we need to attend hospital appts, hospital being a 8 hour round trip and another one being 4.5…
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Loopy's Bankruptcy Journey
I'm 33 and I live at home with my parents. I moved out two years ago to try and get a better life in Manchester because I live in a small seaside town in Wales. Anyway, things didn't work out there because I was homesick and lived with a couple and I ended up running up more debts - when I already had some to start with.…
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Keeping car
I live in scotland and will be possibly going bankrupt. The only asset I own is my car. I checked buy any car.com and its value is £5,500. I live in a rural area in the highlands and my work is 25 miles round trip so wouldn’t be able to get to work without it. Also one of my son aged 16 had to attend hospitals on a regular…
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Bankruptcy and salary sacrifice car lease
Note: I haven't declared bankruptcy YET My work does a salary sacrifice scheme whereby I can lease an electric vehicle. Note lease, not own. As my current car is leaking and ancient I'm considering doing this which take maybe £400 out of my monthly pay before tax. Would the OR have a problem with this? (Would they even…
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Debt in the UK when living over seas
I am originally from the UK and moved to Canada back in 2018, I had a property in the UK (sole owner) still but it was in negative equity so i rented it out with the hope that things would improve. I am now finding myself in a position where i can no longer afford to pay the mortgage payments. I have been informed bu the…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
7.2K discussions
41.6K comments
Most recent: How's your experience been with a DRO? by elsien
26 August at 8:45PM
