We'd like to remind Forumites to please avoid political debate on the Forum... Read More » This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

The Forum is currently experiencing technical issues which the team are working to resolve. Thank you for your patience.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Bankruptcy & living with it

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

Newly Bankrupt few question
Hello all, Have recently applied for bankruptcy and I was approved on 16/01/23. Today I received call from OR just double checking my budget and to inform me I won't have IPA. However this phone call was very brief no much questions asked, only about my childcare and few other expenses and income. Then I received email…
£5,000 threshold
Hi - a bit of advice please. I was issued a stat demand a year ago for a personal debt. It was for 21k. I paid as much as I could and reduced it to around £4900. I recently lost my job and told them I couldn’t pay anymore and they told me they were going to issue me a bankruptcy petition. Can they do this? If the stat…
Bankruptcy Fees
Hi, I was looking for some advice regarding the £680 fee. Due to bereavement and a deterioration in both my mental and physical health over the past year I am currently unable to work. I started a bankruptcy application in January 21 but after 12 months I am still unable to pay the fee as I do not have any disposable…
Credit score during bankruptcy.
So I was made bankrupt last month and as expected my credit score then dropped as soon as my bankruptcy appeared on it. My score was very low already so didn’t drop by much. I’ve now got my score in for January and my credit score is now better than it was prior to my bankruptcy and had increased by 45 points…
Rent Levels & IPA
Hi All, So I've started working this month for the first time since by BR was approved June 2022. I will need to get in touch with the OR to fill out an income/expenditure review, but I'm also in the process of moving to a new flat in Birmingham city centre. Most of the prices I'm seeing are a good £150pm+ more expensive…
Bankruptcy Offcial Receiver Still Owns Property After 13 Years?
Hello, Hoping someone can help who perhaps understands how bankruptcy works. A family member of mine was declared bankrupt in 2010. I believe they entered into a BRU which extended the bankruptcy by three years. At the time, the family home was not taken as there wasn't enough equity. This year, with the rise of interest…
Nearly at 6 years... credit file
In July it will be 6 years since being bankrupt There's still issues on my credit file. 2 of the 3 say my lloyds bank account is still 'active' and recorded defaults since July. It's only on mse/experian is down as under default/ended (still shows balance tho, all others say £0) but has a date of September rather than July…
Bankruptcy will I get first time buyer mortgage in 6 years?
Hello, Just wondered if people could get a mortgage the bankruptcy falls off your file especially would like to hear from first time buyers how it affected them? is it more likely ill have to wait 10 years from file for bankruptcy?
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…
"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…
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…
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…
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…
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…
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 ?
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…
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?
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…
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…
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…

★ ★ ★ Meet your Ambassadors

Confirm your email address to Create Threads and Reply

MSE News

Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payments this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

View All

Bankruptcy & living with it

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free

Bankruptcy & living with it

Category List

Discussion List

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free