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Old debt
Hi I went bankrupt approx 19 years ago , but yesterday I realised a letter from.capquest saying I owe £1164 . 64 . I worried a bit as I haven't had any debt since my bankruptcy. So I phoned them up today and it was from the year 1999 . 25 years ago . Shop direct . Anyway he said if I could prove my bankrupt then he cold…
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Walking away from my home
I’m on interest only mortgage. My plan 20 years ago was to sell and pay what I owe to the mortgage provider. However, few months ago we have been told the block I live in has the same material as the Grenville tower and needs to be fixed. We have been told this may take up to 3years to sort. Mortgage matured in just over a…
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Trust deed Scotland
Hi all. I need to join a trust deed due to £32k in debt and now can't cope. They have asked if I want to have a joint trust deed with my partner but she only has a around £4k in debt her credit rating is damaged a lot though with this as missed payments. We both work full time where I earn £19k and she £30k. What is best?…
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Joint account - advice needed
Hello, I'm hoping someone can offer some advice... I seperated from my husband 3 years ago. We're not divorced, just living separately. In March 2020, I declared myself bankrupt, he didn't. The bankruptcy itself went very smoothly, and I'm now in a much better place financially. However, from checking my credit report I…
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Can the HRMC force the sale of a foreign house which is jointly owned
My husband owes an amount in directors loans and he has no way of paying it back and the only way he sees of moving forward is by going bankrupt. We do not have any assets in the UK but we currently own a house outright in France which was bought from the proceeds from the sale of my own house which my husband was not on…
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Struggling Mentally/Emotionally With Bankruptcy Process
Hi everyone, I recently declared bankruptcy and the order has been made. Since I submitted the application I didn't realise how much work there would be to do after that. I knew to expect a call for an interview shortly after and they called me and asked me lots of questions on my situation and dates and incomes etc which…
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IPA and sickness
Hi all I’m in the verge of going bankrupt but currently on long term sick does anyone know how this will effect the ipa interview when I get it. Also how long after going bankrupt is it until you get the interview
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Time to face up to my debts
Hi all, I’ve struggled with debt since the age of 18, now 10 years later I need to sort it out and think about the future. My debt consist of loans, overdraft and credit cards. I’ve always worked hard and maintained my priority bills and never missed a payment but with the debt I’ve barely touched the sides and find every…
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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…
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£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…
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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…
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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…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
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