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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…
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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…
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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…
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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…
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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?
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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…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
