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Post-BR & Utility DDs
I came out of BR almost 12-month ago, which was a positive event after the anxiety of the previous 12-15 months. OFGEM recently announced the new Gas and Electricity price cap, which was a reduction of just over £400 on a typical household usage/bill per 12-month period. However, on the same day of the announcement, I…
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Bankruptcy, is this normal?
Hi, I went bankrupt 4 weeks ago, and I'm just really confused about the process so far. I did lots of research so I knew what to expect as I have ongoing mental health battles mainly with anxiety. So far everything had been done via email... Some of it seems to be standard they send out but I then had to reply to an email…
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Considering bankruptcy
After a long time of consideration I am very close to declaring myself bankrupt. I have around 55k in personal debt (25k BBL, 2 personal loans and a couple Credit cards). i'm not behind on any payments, but I did a debt management plan and it would see me paying around 500 a month over 10 years. After doing lots of…
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I desperately need some help/advice...
Hi everyone, I desperately need help to decide how to proceed with my self-made debt crisis! Can anyone please help advise me? I formed a LTD company in 2021 to pursue a business idea (only me employed/involved) and having foolishly gambled on marketing spend have run up a (100%) personally guaranteed overdraft and…
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Post / After bankruptcy Self Employed Sole Trader buying stock or personal vehicle Catch 22
Hello all. Checked the forums re this subject but found nothing but pre-bcy advice.As a sole trader Motor Trader starting from nothing I have encountered these issues: how do I get stock? Yes I can get a few cheapies on consignment to make a few £'s but I still have expenses and to live so how then if I make a good profit…
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Ex-bankrupt and job in financial services
Hey, I’m sorry if this has been answered before. I can’t find a relevant thread. I was declared bankrupt in 2012, discharged a year after. Worked up towards a good credit file. I’ve had credit cards to build up my score and they’ve always been paid off on time. I’m looking for new jobs just now and some have caught my eye…
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IPA Quickies
Hi All, and just a couple of IPA quickies if I may.Once an IPA figure has been 'agreed', any idea when the first payment is due from that date? Is it also advisable to mention that you have have taken budgeting advice from any of the debt charities? Thanks All.
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Letter from the insolvency service
Hi all I received a letter from the insolvency service informing me that there remains a surplus of funds in the account and that they will be returned to me. They are asking for my driving licence or password and a utility bill. I was declared bankrupt 12 years ago and I am no longer bankrupt. is this a scam or is it…
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Bank account after Bankruptcy
Hello, I went bankrupt in 2017 & this is due to be removed from my credit file later this year. I currently have a basic bank account, but would like to get a current account and a joint account. has anyone tried this once their bankruptcy had been removed? I don’t want it to be refused, thus impacting my credit score. The…
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Pet Health Care plans - are they worth it?
Hi. Grateful for any help/advice. We are just about to add a puppy to the family and I've seen that many vets, and places like Pet at Home, offer annual Health Plans that cover things like vaccinations, boosters, annual health checks, flea, worm and tick treatment etc. for a set monthly fee (often with a one off sign-up…
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Mortgages after bankruptsy.
Hi all. Been on here for a while. But cant really find anything more up to date. I went bankrupt in April 2021 and discharged a year later. When I got discharged I got in touch with multiple mortgage advisers to see when in the future I could look as possibly obtaining a mortgage. They all seemed to say after 3 years of…
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Suspension of discharge hearing
If you're not contesting it do you have to a attend a suspension of discharge hearing? Can't find any info on this elsewhere.Thanks.
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Pros & Cons of a DIY Bankcruptcy V Creditor Petition ?
Hi everyone, I'd be grateful to get some info on pros and cons of a self-bankruptcy application, Versus, Bankruptcy via a creditor petition? The only asset is the house with limited equity, that could be shared between a number of creditors, once they sell the house (House in joint name, only one partner to become…
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Facing up to my debts.
I’m so ashamed of my debt and have been burying my head in the sand but need to face reality. I have about £30k of debt. I earn £47k per year ( single parent working full time with a small amount of Universal Credit.) Debt is made up of credit cards, loan, store card and overdraft. My monthly income is around £3000…
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My nephews debt and bailiff
Hi there, could I have some advice please, as I am pretty worried. I live in a housing association house. I used to live with my father and my nephew. My father passed away 3 months ago and my nephew moved from Plymouth to Liverpool about 8 months ago. My nephew has lost his job and isn’t good with money. He’s got a lot of…
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Facing up to the past and thinking about the future
Hi all, First post on the forum so hello to you all. Let me introduce myself. I am in my late 20’s and work full time. I have no savings, do not currently drive and live in rented accommodation with my partner who is not involved with my financial mishaps. Since 18 I have always had credit whether that be loans, credit…
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Have today been made bankrupt
hi all. Have this morning been made bankrupt, the circumstances around this are I signed a personal guarantee when I had a business a few years ago and the creditor has made me bankrupt , I have no assets in terms of property or possessions I do have a car on HP which I need for work The Judge said I will recieve a…
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Joint mortgage after DRO
Any advice would be very much appreciated. I went through a DRO (July 2020) and was discharged from this the following year. I have recently got married and we are looking at buying a new house. My husband has a very good credit rating and we have £130k equity in his current property to put down on our next house. Will i…
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CCJ debt (which I ignore) has been sold to a creditor I make repayments to. What will this mean?
Hello, I have a series of historical debts which I'm paying off in monthly instalments. There's one debt which I don't make repayments to, as it went to a CCJ. I have about 16 months before it's completely off my credit report. I received a letter today saying the CCJ debt (which I ignore) has been sold to another debt…
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DRO and prefferential payment
Hi Long story short. I got myself in to some big trouble around 2016. Struggling with my debts since then at around 29.5k across 3-4 creditors. August last year I decided to take consolidation credit to completely pay off one of them (5200 pounds ) and then use rest of the money to top up my current account in case of…
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
