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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…
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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…
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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
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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.…
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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…
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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…
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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…
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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…
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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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IPO question
I was made bankrupt 1st August 2022. As yet no IPO is started but will likely do so when I start work again (likely). How exactly does the process work and are you allowed to negotiate on an agreed budget? How exactly would they base a budget? On my past history in terms of spending on bank account or would they allow me…
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IVA on BBC... 09.15
On rip off Britain May be on the i player later
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Stolen identity
Long story short we had a serious mugging in the family two guys in balaclavas with knives. They got phone and all information on it. the police and victim support were very good at the time, but it wasn’t until sometime after we found out it was their MO organised criminal gang who used the information to steal identity…
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no offers after bankruptcy wiped clean?
Hi all, My bankruptcy recently fell away from my credit files, yes have checked all of them, and its now officially super clean, have paid all my credit cards religiously for 6 years as well as phone bills etc.. naturally all the ‘scores’ went through the roof once the BR fell away but i’m not getting any offers from a…
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Help with bankcruptcy
Hello Im looking for advice in relation to going bankcrupt ive built a large debt with the likes of the hmrc vat credit card and few other things mainly to do with running my business. Ive wrestled to fix these things for years but struggle with paperwork. In relation to going bankcrupt do I just ring an insolvency…
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Frozen bank account experiences
Hi, I was just wanting some help regarding my bank account - I filed for bankruptcy two weeks ago. One of my accounts have been frozen (with the Nationwide, nothing in it really and hardly ever used). My main account with MONZO is the one I’m worried about as I get my benefits paid into it. I’ve contacted them to request…
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HMG savings plan and BR
A family member was on UC but started a £50/month HMG savings (help to save?) by direct debit, she has £450 saved up, if she goes BR (or a DRO) will the OR snatch the savings? should she close the account now?
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
