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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…
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Inheritance
Hi everyone & hope you’re doing ok today. I was BR in 2013 and discharged in 2014. All entries on my credit file in relation to my BR were removed after 6 years. I’m about to inherit money from the sale of my mum’s house (she passed away in 2021). Am I right in thinking that this inheritance won’t be clawed back into my BR…
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Tax & Bankruptcy
I was declared bankrupt on 06/03/23. If understand correctly, it's only for the tax year that you are declared bankrupt in that the OR can apply the tax code to recover tax you normally pay. So am I correct in thinking that this won't happen to me as it happened right at the end of the financial year? not sure I've…
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bankruptcy
hi looking for some help and support, im looking to go bankrupt , started filling form in via government web page have spoken to step change seems the only option other than this i.v.a thing [HAD D.R.O BEFORE] but not over 6 years ago im confused with it all , im also struggling to fund it , i work im not on benefit's…
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Broadband/tv suggestions for bankrupt
Hi again. So my virgin media has been disconnected (broadband and tv packag). I’m annoyed at myself for including it in my bankruptcy as I only owed about £100 with them but I understand they may have cut me off anyway. And I was being completely honest with what debts I had when I filed. Are there any suggestions for what…
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Call from my IPA firm
Hello all. I've had a call from the firm that deals with my IPA, they have asked me to send an updated form even though I sent an updated form a couple of months ago, I rang back and asked why it was so soon to re-evaluate as it's supposed to be done every 6 months, they told me the last one I sent there was only 1 page…
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bankruptcy help, it's all too much
hi everyone i'll try not to waffle. Applied for bankruptcy a couple of weeks ago and didn't realise how much there was to it. I've had a half hour phone call and then have had to email copies of my rent agreement and reasons why i need my car etc. I've lost track of how many forms i need to print off and sign. Plus i have…
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IPA yearly review
So my IPA is all set to go, just need to speak to the agency collecting it as my wage situation does fluctuate month to month ( i gave a six month average for setting up the IPA). I'm just interested in what happens when they review it after a year and if anyone has experience. Do I have an appt with an assessor again?…
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Debt advice needed
Hi all, Currently 2 months into a DMP with step change for debts totalling 32k. A mixture of personal loans and credit cards. Paying £330 a month at the moment but think in my initial assessment I may have understated costs of food shop etc. Exploring the option of bankruptcy but don’t have a great deal of knowledge. I…
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What is my best option going forward - over £120,000 in debt
Hi All This is my first post, so please accept my thanks for reading and providing any guidance you can offer. NB I'm also hoping I've posted this in the correct area. I'm currently over £120,000 in debt, this is mainly due to a gambling addiction that I have recently take ownership off, I have banned myself from the…
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Bank Accounts for Bankruptcy
Just a quick update, which some may find helpful in the future. Starling have confirmed that I am okay to carry on using the account. Their default stance is bankrupts can use their accounts, as long as there is no overdraft, and no debt with them, although they do take this on a case by case basis. Good to know their…
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Notice of Disclaimer on HP car
Hello everyone and thank You for all support received so far. This my another post regarding my Car on HP during bankruptcy. I received today Notice of Disclaimer Where OR state " disclaim all my interest in hire purchase agreement .... " Please correct me if I'm wrong but I understand that OR letting me to keep car and…
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IVA private rent :(
Hello everyone, Just after some advise. So I am on an IVA (since 2019) we've been with the same LA for 5 + years now, when we moved to my current rental they skipped the credit check. Now after 4 years the landlord is serving a section 21 to sell. We're back on the rental market, which is now an extremely competitive…
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Bankruptcy - allowable living costs
I’m preparing an income and expenditure statement as I’m applying for bankruptcy. Can anyone help please? Do you know if there’s a list of reasonable living costs to include and how much the receiver would accept if I go bankrupt. Many thanks for your help.
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Budget Help
Hi, I am creating my budget for stepchange and have some questions or any advice. I have a partner and two children, I am confused about how much i should put down for things like clothes etc and is there a set amount you have to put down. I am new to this so very confused at the moment
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Hp finishing before discharge
Hello there, I'm looking for helpful advice regarding my case. I'm undischarged bankrupt science Jan 23, currently having car on HP to be finished before my discharge. I have no IPA , and HP company let me keep car as long all payments are up to date. Will my car be claimed by OR when I pay it off ?? I'm bit confused how…
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How long does it take to remove a charging order from the land registry
Hello, I've recently settled an old finance agreement where the lender had a charging order registered behind my mortgage on the land registry. I was wondering if anyone had had any previous experience of how many weeks it takes once the debt is settled before the land registry record is updated? Assuming that people do…
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Debt relief Order...
What agencies can apply for a DRO for an applicant? They have a Stepchange personal plan, sent it to Moneywellness a month ago who have not been contactable (hours spent on phone)
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Finding Accounts
So a bit of a back story I left an extremely abusive relationship which ended in prosecution of my ex partner. I worked up to a couple of weeks ago but have accepted defeat that my mental health and my children’s mental health needed fixing. Unfortunately due to debts I was advised the best way forward would be to go…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
