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How long to become bankrupt?
Hi there, Just wondered if anyone could give me some advice - I've been out of work for a few years now as I suffer from M.E. Have quite alot of debt as I was just finishing my degree when I became ill. Have been unable to repay any debts since August last year and am now just paying £1 a month to my creditors (my only…
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Council tax & Bankruptcy
Hi Guys.. Hope someone can help me with this. As ypu know we have had out big bankruptcy day and its all gone very smoothly. Saturday we recd a letter from a bailiff for a council tax that was included in the bankruptcy. They state that this week they are coming to collect goods to sell at auction, they can do this with or…
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Questions about bankruptcy... (sorry for long post)
Hi all, some time ago now I put my first post on here telling the tale of the extremely deep and dark hole that I had somehow managed to dig myself into. I got a lot of positive feedback and now a few months later things have settled down slightly. My DMP with the CCCS is now under way and I pay £258 a month to them to…
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How hard is it to declare yourself bankrupt
Now this isnt somethin im planning on doing or ever going to do as my debt it managable and i AM going to clear it up. Just wondering how hard it is to declare yourself bankrupt as i think sometimes some people see it as an easy option to clear debt. Im just concerned that as im in debt, these creditors are losing all this…
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Questions about Bankruptcy - Please Help!
Dear All, I wonder if you could offer some advice: After visiting the CAB for advice on our debts they said they could write to our creditors to reduce our monthly payments to them or consider going bankrupt which would sort out our 2 mortgages and secured debts which are the biggest financial burden we have. However, my…
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Advertised Bankruptcy?
I am seriously thinking about going bankrupt.I have had enough of all the sleepless nights and arguements with my husband. The thing that concerns me is,will it be put in the local paper in the courts section and will my employers know? I don't know what will be worse,comments from friends and work colleages,or just…
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Bankruptcy
I have an elderly relative who refuses to pay his land tax. He will be taken to court in January and declared bankrupt. He owns 1 property of around 10 acreas value around four hundred thousand pounds. He also has arouind 30 thousand pounds invested. Would the debt be taken from the liquid asset or would the property be…
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Is bankruptcy the best way out
Morning all have not been on here for a while so have had to re register as I lost my username. Found this site last year which was a great help for me ,i finally took my head out of the sand and I had finally started taking a hold of my finances and had got my debt down from around 15k down to 9k in 8 months. Things were…
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bankruptcy or iva urgent advice needed
hi everyone just wondered if someone could offer any advice to relation who has got himself in big money trouble.he currently owes bank 28K in personel loans and overdraft,he is 26 single and takes home 850 pounds per month.the bank adds approx 70 pounds per month in charges .he lives at home with parents who are not in…
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Bankrupt today
Just thought I would let you know about my day. Got to court at 9am. Saw clerk at 9.30, very informal, just like being in the queue at the post office. Handed my papers over, told to go upstairs. Waited about 20 mins. Went into room, saw lovely judge, declared bankrupt at 10.21am. Went to OR office, will be in touch with…
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Why would you chose IVA over Bankruptcy ?
(sorry if you have already seen this, I mistakenly posted this to an existing thread when meant to start new one) Sounds like IVA's - Cost a lot more than Bankruptcy - Take more of your disposable income - Last longer (5 versus 3 years) - Good for Solicitors, Accountants, School Governer Wanna-Be's etc Light bulb moment is…
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bankruptcy fees
help! i'm in debt to the tune of about 18k and i'm a recently single parent with 3 kids. i'm on DMP but will be paying this off longer than my youngest (3) will be at home. i was just wondering, how do i get the fees up together to go bankrupt in the first place? the debts are solely my fault...borrowing to pay off debts…
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IVA or Bankruptcy? Or is there another way for me?
I am a newcomer to this site and have been reading various posts with interest but cannot seem to find the best way to approach my current financial problems. I have written a little about my background and current situation in the hope someone can help steer me in the right direction so I can find my way out of debt. I…
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Bankcruptcy?
To keep it breif..... I owe about £67,000 all on usual loans etc... and not 1 thing to show for it! ive tried cccs failed on a dmp.... im 26 in an unsteady relationship of 5 years and two young children, i rent and im the only one that works, im loosing control and all grip on reality! I havnt paid my creditors for almost…
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I think I may try bankruptcy
Hi there, I can see no way out of my debts,I am seriously thinking about bankruptcy. I do not want to,but it seems like the only option. The CAB have closed my case now,Lloyds and MBNA are saying no to token payments,and threatening bayliffs.I live with my parents,and they are saying that they must produce receipts to show…
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Bank accounts whilst bankcrupt
Hi there Just want some advice my hubby and I are in a joint IVA. We don't know how things are going to go and feel there may be a better solution for us going BC instead. BUT our major concern is opening a basic account. The ones I see mentioned and recommended are Nationwide, Barclays and Co-Operative. The problem is we…
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Reclaiming Bank charges and Bankruptcy
My brother has a is going to hopefully be made bankrupt ( CCCS advised him that due to the size of his debt and the lack of money coming in ) But during his working life he has been hit many times with bank charges and when he gets made bankrupt if he is able to reclaim any bank charges what will happen to the money or…
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Question about Bankruptcy, benefits & Council Housing.
I'll make this quick, at the moment I've sent proposals to my 5 creditors for token payments while I get back on my feet, my worry is one in particular, will not accept, Barclays, who I owe £20k on a sole trader business overdraft. I think they will refuse my offer and go for bankrupcy, TBH I don't care what they do to me,…
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bankruptcy
how much does it cost to go bankrupt
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re filling in bankruptcy forms any help apreciated?
Hi Im trying to talk my OH around to going bankrupt, he sticks head in sand and Im left to sort out mess as per usual very long story how this all came about so I wont bore you with that. but ive printed the forms off to fill in for bankruptcy and there are a couple of quick things I need to know how to put it / or what to…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
7.1K discussions
41K comments
Most recent: Debt Relief Orders (DRO) - Information & help thread by OutOfTheBue
14 October at 8:08PM