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Health,Debts and DRO or Bankruptcy
Happy New Year to all. This must be one of the hardest things i have ever had to do. Firstly an insight as to why I think bankruptcy is my best option. Sadly like many,I fell into the I got one credit card let me see if i can get another...and another...and another. You know what comes next. Things went fine until 3 years…
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"Settled" loan included in bankruptcy changed to "active" 5 1/2 years later
Hello all. I declared myself bankrupt on 28/02/2017 and was discharged on 28/02/2018. One of the creditors of whom was included in the bankruptcy was a loan from Post Office Money (Bank of Ireland). I had a long drawn out battle with them after following the advice in Fermi's "post bankruptcy credit file clean up" thread…
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DRO advice vs bankcrupty
Hi, I'm just wanting some advice please in relation to a DRO can self assessment taxs be included and personal vat bills be included as tied to me not a ltd company?. I was considering going bankrupt however after reading about a DRO this may be a better way I have around £20k of debt. After a DRO is done does it stay on a…
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Please advise - Is bankruptcy the best option for me?
Hi, I am 29 years old and unfortunately a gambling addict in the process of recovery. I have debts of over £13,000 - £4-5k in car finance and the rest varies between bank loans, pay day loans and mobile phone providers. I have been thinking of going into an IVA but because of my addiction I can not guarantee I will keep up…
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Newly bankrupt, what next?
I was made bankrupt on the 7th and had a phone call from the IPA team who have confirmed I’m only on an NT IPA until April and nothin further to pay unless my circumstances change, I’ve not yet had my OR interview. I have explained in a call arranging the date and time that I have dyslexia and dyspraxia as well as poor…
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IPA Income/Expenditure Review
Hi All, Went bankrupt June 2022 and due to retraining in another sector haven't been working since April 2022 - I've only had UC payments and no IPA. Having secured a job in the new sector starting January 2023, I'll now have more income and will therefore be asked to do an income/expenditure assessment. I'll only be…
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Advice please
I was made bankrupt in March 2022 and voluntary terminated my finance car in October 2022. The agreement was taken out in 2021 I received a letter today saying I owe arears of £1000. I phoned them and they said the official receiver hasn't been in contact with them so I'm liable for the amount?? Am I ?
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Bankruptcy is cancelling lots of my bills?
Ok so to make this more understandable since being on the bankruptcy I’ve had my council tax cancelled but I’ve been explained how that’s working until April. but I’ve recently had my cancer insurance and my life insurance cancelled unless I want to buy them both for £50 each which I don’t have 😢 and today without warning…
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Can invoices be included in dro?
I’ve just filled in all my creditors from my credit report. I have outstanding invoices that never went to court do I include them?
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Considering bankruptcy
Hi Another one who’s buried their head in the sand! Recently discovered that I have £45k sept (including interest on a costly loan), also have a house on interest only which is due for full payment in 4 years, I have no way of paying this as negative equity, selling in a few years might work - might not I am diagnosed with…
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Why everyone forcing IVA over bancrapcy
Hello and welcome everyone, Thank You for accepting my at this forum. Probably as most people who end up posting questions here I'm in big ( for me ) debt , about 23k with my loan and credit cards. It's all started going downhill during COVID where I have to top up every day expenses with credit cards. Same time my…
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Is Bankruptcy right for me
I’m at the point where I can’t continue paying my debts. I have been using my credit cards to pay for food, bills etc but, at some point, these will max out and I’ll be left with very little. My debts are around 33k, I took out a loan 3 months ago purely to keep up with the increased mortgage payments, knowing that at some…
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Starting new rent while on IVA
Made some bad financial decisions in the past and circumstances out of our control added to the mess, long story short, ended up with unplayable amount of debt and opted for Individual Voluntary Arrangements (IVA). Roughly in the middle of the 5 years we lost our home, the landlord sold the house we were renting. For the…
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Letter out of the blue from Santander
Hi All, I went bankrupt in 2012 and was discharged in 2013. As part of the bankruptcy I had a credit card debt with Santander. I have just received a letter in the post that says "Theres a refund on your Santander credit card, When your account was being managed by Financial Support, we agreed to stop some interest and…
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Help with preferential payments
“You have kindly provided us with explanations of the advances you’ve made to.. and repayments back. Please be advised that the Official Receiver has reviewed all of the evidence and explanations that you have provided and has reached the decision that bankrupt has made the preferential payment to you over her other…
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Help - Breathing Space requirements forcing me into DMP?
Hi everyone, I have a bit or an urgent issue that I'm hoping someone would be able to help me with. My debt had got to an unmanagable point and through lots of advice I reached out to StepChange. I've applied (succesfully) for Breathing Space for all of my debts and had submitted my information for a DMP through them…
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Bankruptcy affecting those I live with when sofa crashing?
Hey folks, I’ve had financial advice and I’m close to filing for bankruptcy as it’s the best option given situation but I wondered… I am currently living on my friends sofa as I am fleeing DV and have nowhere to live or finances to fix that. I’ve only just come out to them abiut my situation needing to go bankrupt.…
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A list of things to do before filling for Bankruptys
Hello, I will be filling for bankruptcy by the end of this week. I am still a little unsure and wanted to know the must dos before proceeding any further. A little backstory, I am in £36k of debt and I am only receiving benefits now, due to mental health issues. I have no late payments and no arrears to my name. I am…
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DRO... where does it appear?
Does a DRO appear on the London Gazette or just the IS site till it expires?
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Tax underpayment because of Bankruptcy
Morning Guys, Recently received a letter from Tax Credits, stating we have to pay back an over payment, which is fine. I'm happy to do so. However when i recently logged into the Gov.uk Gateway, its telling me I have underpaid my Tax by over £2k. during which I can only assume originated from my Bankruptcy between April…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
