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Thinking of bankruptcy ( will check with a trusted HR person if that would be an option )
This is my SOA from the post I made - https://forums.moneysavingexpert.com/discussion/6361354/debt-got-too-big-handle/p1 All debts have been defaulted for some time now, so no interest. What I am thinking, and would like to check with everyone here who has way more experience and knowledge of this topic than I do, is if I…
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Cost of living rise and IPA
Is it possible to contact the IPA firm and reassess cost of living rises. My petrol, food has gone up significantly. But it will go up further. Whilst I know I can have any time, how often is 'normal'. ?
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Unsealed petition served and other query
Hi Guys, and hopefully a quick simple one but I have no idea on this. I received the creditors petition today, the 6th, with the hearing scheduled for the 20th. In addition, it was served UNSEALED which I had arranged to take place outside my place of work. I really did not notice or think anything of this at the time as I…
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DRO and packaged bank account
Hey all - has anyone kept their packaged bank account while in a DRO (I know they aren't popular, but mine really does save me money on insurances and breakdown cover)? Or been successful in gaining one after being discharged from their DRO? Thank you.
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Joint account and DRO
Good evening, I am considering a DRO and meet the criteria. Does anyone know if a joint bank account holders credit score would be negatively affected once I am in a DRO, please?
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Being hounded by CRS after Bankruptcy
Hi guys looking for a little advice on how to deal with the cretins known as Credit Resource Services. I was made bankrupt in April last year, with my discharge this April. over the last couple of months I have received emails from CRS in relation to a debt that was included in my bankruptcy, I have responded with a copy…
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creditors
At the end of a sequestration case, the asset of £64,000.00 most of this has been used up in Trustees costs an solicitors fees, leaving £5,000 to pay the original creditors what should have been the amount of £17,286.44, we have been asked to be Audit Commissioner for the accounts but we don't know any accountants to get…
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Business Partner Bankruptcy
Hi - apologies if this is not the right place to post. I'm a director in a small limited company with a business partner who is also a director. We have an equal number of shares each (as well as other share holders), with ours holding a majority. He may be declaring bankruptcy personally so I'm worried how this will…
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Can I be discharged from an IPA sooner?
So I have a rather unusual case, and I want to appeal my IPA in place, as I don't feel I earn enough to be on the payment plan and won't be for the foreseeable future. In January, I was released from Bankruptcy, but before this, I was put into an IPA. Subsequently, I reduced my hours in April, received a reduced salary,…
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After Bankruptcy
I have been BR for 2 years now, Once i get to 6 years does all the debt on my credit file drop off automatically or do i have to ring around to sort out? Things have so much for the better now, and I actually have funds to buy a house so am keen to see if i can get a mortgage. Thanks
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Done. Pressed the Green Proceed Button!
Well, that is the big BR button pressed. I'm going to kind of diarise / document in here my "what happens next" journey if anyone is interested! :smile:
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Applying for bankruptcy v being made bankrupt by a creditors petition
This is much a curiosity question as anything else but what is the difference between the following: Applying to be made bankrupt (successfully) or being declared bankrupt due to a creditors petition? Most people appear to go through the self-declaration route and so why is this? One costs you £680 where the other costs…
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Has Bankruptcy law changed much in 18 years?
I went BR in 04/04 an wondered if it had changed much since then? My student loan was included (think that has changed) I had early discharged from the OR I kept the tax money saved from having the NT code
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Cleaning up credit file lowell wont close accounts
Hi all. My bankruptcy ended on 26th april 2022. I have 4 creditors defaulting me still, of which ive been trying to get the accounts marked as closed or settled since the start. This is the reply i had off lowell. have asked for the default on your Credit File to be updated to partially satisfied as of 26/04/2022. From the…
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Bankruptcy and Inheritance
I went BR in 2009 when I was very young and foolish. I have managed to rebuild my life since then and got myself on a good track. My dad died intestate in 2016 and following this my mum decided to make a Will in 2019. She has now sadly passed away. I am currenlty dealing with the estate and have a solicitor helping. They…
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Debt sold whilst in bankruptcy
After a little help please I was made bankrupt 12/05/21 so will be discharged very shortly. One of my debts included with the bankruptcy was with Next. I got a letter recently saying that PRA group had brought that debt. They didn't demand any money in that letter so I thought they would just see I'm bankrupt and that be…
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Halifax
Evening All, I know there's no guarantees, but I was just wondering whether anybody has any experience of Halifax being a bankruptcy friendly bank? My main (basic) account is already with them, I have do debt owed to them or any associated companies, and no credit facilities etc. Would like to be able to keep my account if…
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Bankruptcy?
Hi everyone, Recently, bailiffs started chasing me for council tax debts related to an old property. As a result of this I got some debt advice and am in breathing space, but the whole episode has kind of made me start to face up to my issues with debts. National Debtline suggest that Bankruptcy seems like the best option…
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Restriction order on a jointly owned property
Hi all , I feel I have to post this incase anyone out there is beside themselves on trying to sell a jointly owned property in negative equity my husband had debt in his name only and ended up with a restriction charge on our property , we put the property on the market and was told by the first solicitor that the property…
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Declaring bankruptcy
Hello all, I want to preface with explaining up until last month I had never missed a payment in my life. However, due to sickness and not being able to go back to running my business, and having personal loans and business debt attached to my personal file, there is no way I'm going to be able to pay the debt. Though my…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
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