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In a hole, advice needed
I am going to have to go bankrupt but have a few questions: my property is on an interest only mortgage, really there is no equity in it but I am hoping by time the mortgage is called in I’ll be able to sell it to cover the mortgage. This is joint mortgaged with my mum, I’m worried that if I go bankrupt, my 67 year old…
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DRO Moratorium period finished but getting letters again advice.
I applied and got a debt relief order on the 14th of July 2021 and it recently ended but have started getting letters again from my creditors virgin mobile and Barclays partner finance, Barclays are asking for a copy of confirmation letter which I haven’t yet received from insolvency service about discharge. When I log…
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IPOQ Debt Advice Line?
Hello There, I might even be on the wrong site for this but here goes. I received an email yesterday, Wednesday, from the OR's office with an attached IPOQ. I did some online research on this and apart from other helpful suggestions to the poster, one forums advice was to contact a particular debt advice line who it was…
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Question about how to value assets with multiple components
Say that you have multi component items like a self built desktop computer where you have purchased the components like cpu, motherboard, graphics card etc. separately all under the value of £500 each, and under normal circumstances you would sell those second hand as individual components again as you periodically upgrade…
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Does credit in a utility account count as an asset?
I'm currently paying more on my DD than what I estimate I'll need over the period of my fixed energy deal, I've left my it as it is as that's what the energy company recommend and it's not a massive difference, but obviously I'll build up a credit of £300 or more over the next 2 years which can then be withdrawn, also we…
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Off the List
Over a year ago, I joined the forum to help guide me through what to do; from completing my income /outgoings form to advise of what and when to do things and of course the much anticipated /dreaded phone call when it came to pushing the 'send' button to declare bankruptcy. Now a year later, my name is off the individual…
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Car Finance After Discharge
I was declared bankrupt in 2018 due to illness and being unable to work for 3 years (and having an insane amount of debt!). I'm now back on my feet physically and financially but need a car. I have £5000 which obviously could get me a car but I really want to get an electric car so would need to get some finance of around…
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Before I apply for bankruptcy
Hi I am in the middle of a very messy divorce. I have been left with huge debts in my name as my soon to be ex could not get credit. Joint property mortgaged is about to be repossessed. I have moved into rented accommodation. I work for the nhs and am often asked to work extra to cover the service, if I do work I am paid…
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Car PCP
Hi, Been discharged since June 2020 and would like to get an electric car on PCP. No luck so far, which was expected (with motorpoint on a e-208). Has anyone been in a similar position and managed to secure a deal? Thanks
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What to do, who to ask
My son aged 44 had went into serious depression over lockdown, became an alcoholic, went into debt - circa £35k - and has now lost is job due to the alcohol. He has moved home with us and we are dealing with the alcohol problem. He has no property and a car worth peanuts. He therefore has huge debts and no income or assets…
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Settled IVA Early
Hi Newbie question here. I went into an IVA a few years ago, and settled it early thanks to a financial gift from my partner. I had my certificate of completion issued 11 months ago. I've read that the notification is on your credit file for six years, but on the IVA completed notification it says that it is only only your…
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Discharged:)
Hi I have been discharged from Bankruptcy, it's been a brilliant year been debt free! This is something I should have done years ago, but the stigma attached to been bankrupt was a always on my mind. I have zero debt's all are gone and forgotten. My new debt free life starts now, all correspondence stopped, letters phone…
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Bankruptcy help please - desperate
Hi everyone, I’m writing for a friend, he is in a very bad way. He has old debts, credit cards, store cards etc, he was with stepchange, paying £700 per month. He is struggling to pay stepchange. His husband took a loan out for him as he has a poor credit rating and he also has to pay him back £320.00 per month. He has had…
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Going through bankruptcy and mental health
I'm new to this site I was made bankrupt on 29th June I applied online without taking any advise just filed for bankruptcy I had a newsagents and post office which I was running with my 3 members of staff everything was OK till covid hit I was pregnant with health issues I was told to isolate my husband is a taxi driver he…
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New bank acct after bankruptcy
My CAB advisor will be processing my application and bankruptcy fees this week. She has advised that I will need to open a new bank account asap after the application is sent. I’m currently banking with NatWest. I just need a basic account -no overdraft lol! Can anybody recommend a bank that will give me an account please?
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IVA and cost of living crisis
There was an excellent article in the Guardian on Saturday regarding new guidance issued by The Insolvency Service to insolvency firms who are now obliged to take soaring living costs into account if you are struggling with IVA payments. Because many IVA agreements were drafted before the individual had knowledge of the…
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Link Financial
Hello, I've been discussing my credit accounts that Link Financial have for me, I called in relation to my discharge from bankruptcy and asked for information on their data controller to update the accounts on my report. I was flabbergasted when they told me it stays as default which is correct, but they told me the…
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Car
Hello, how soon after Bankrupcy order is made my car will be taken away ? I am just wondering as I will be still working for 4-5 after and there is no other way of getting to work then by car. thank you
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Post BR mortgage options
Hi, I was discharged in June 2020, income approx £105k p.a., around £50k deposit. Does anyone know of any specialist mortgage people who can assist? I'm guessing the regular channels won't be any good, as the market is beaming right now, and they can go the safe business? Thanks Skiv
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Changed default date to after bankruptcy
Here is the last letter I received “ We are writing to you in regard to the Bankruptcy you have recently informed us about. We would like to apologise for the late response and thank you for your patience regarding this matter. Kindly note that due to the discharge we are unable to confirm your bankruptcy using the…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
7.2K discussions
41.6K comments
Most recent: Hoping to apply for a DRO by fatbelly
5 September at 9:36PM
