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Bankruptcy & living with it

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

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…
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…
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…
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…
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…
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.…
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…
DRO... where does it appear?
Does a DRO appear on the London Gazette or just the IS site till it expires?
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…
Income and Expenditure
I'm currently paying into a bankruptcy cpa or whatever it is called. I've lost all the paperwork to do with my income and expenditure information that I provided back in 2021, (I've since been dischsrged) With the increasing cost of living I wanted to take a look at it before I got in touch with Advantis Credit who I'm…
Bankruptcy.......earnings.................tax code
In the back of my mind i seem to recall that the Insolvency service and HMRC monitor a BR's wages via a special tax code to channel taxes to creditors (or something along those lines)?... Is this only if a 5 year payment plan is imposed? again my recollection is a big hazy
Employment after Bankruptcy
Hi I am new to all of this but need some advice. I was made Bankrupt in 2011, obviously since then I have been discharged, done my 6 years and life is normal. However I have recently been offered a bank job as a manager. It didn't even occur to me that my bankruptcy would be a factor and indeed I had forgotten about it.…
Dro advise
Hi all. Bit of a back story I owe all together 23k this is from a natwest loan and credit cards. Over the last year I've been with stepchange paying £60 a month to pay off these debits, as a payment plan with the company's how i owe money to. if I carry on paying this my debts will be cleared in 2055. However due to the…
Bankruptcy and wife’s car
Hi. After many sleepless nights and a lot of stress I’m now considering declaring myself bankrupt. Through very poor credit choices and misguidedly thinking I could shuffle things around and secure better deals, it’s all caught up. Unsecured debt of £53k, loans and credit cards. Now too much going out an not enough in. I’m…
Few questions for early bankruptcy
My bankruptcy got approved on Monday. I didn’t have any spare cash to remove for day to day spending before I put the application in. I don’t get any money until the 8th November. I’ve been waiting for a refund from wizzair since July which has just been put in my bank. I will leave my 1st month direct debit amount in but…
Charge on house from approx 2007
I’m asking on behalf of my bf who has just found out that there is a charge on his ex partners home, he wants his name off the property (divorced 2014)but they did a quick thing!! stupid I know), but as they took the 11k loan in 2005 when together it is still in both of their names, but he hasn’t lived with her or their…
IPA rules
Income payment agreement How can it be 'fair' to force those employed to go onto an IPA and be stuck with it around the neck for three long years, compared with someone who isn't employed for one year? So in theory a person could benefit by not working for a year and escape the IPA? I've have a very unstable year for say…

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MSE News

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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
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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.

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Bankruptcy & living with it

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