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DRO - struggling to understand what I need to do due to head injury
I'm in a lot of debt, largely tax credits due to a years overpayment deemed when our employer didn't register any of the staff with HMRC. (about 7 of us got caught up in this it was horrendous) Tax Credits have syphoned this back over the years at 50% of the correct awards but 50% less has then pushed me into debt in other…
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your help please
long story short I have lost a CCJ (personally) did a job for a client she said went wrong so judge sided with her. i made an offer of a monthly figure to pay her back refused and she wants it back at £300 pcm. which i cannot afford. I have now closed my limited compony and asked to be stuck off. she sent a letter to…
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Question on CCJ/BR on credit file
I used this forum frequently when declared bankrupt 6 years ago, it was of huge assistance, it feels a bit weird to be back! My 6 years is up later in the year, however i also have a CCJ..this PREDATES the bankruptcy by a couple of months, but it still has an amount next to it, i.e not listed as settled- it went into my…
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Moved: Court enforcement officer visit
This discussion has been moved.
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IPA help/ guidance please
I apologise for the very long post but I have no idea what to do here, so any advice will be gladly welcomed. I filed for bankruptcy in September of last year and I received telephone call yesterday telling me as my circumstances have changed I have recently started a new job I would not need to complete an IPA. I had…
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Working extra Hours in Bankruptcy / IPA payments
Hi guys, I was recently contacted by the IPA team in regards to paying into an IPA, obviously I have to inform them of any increase or decrease in earnings. I occasionally work overtime, rare, but I do it. (Running upto Xmas and B/days or Holidays) Anyway, in accordance with the IPA Agreemrnt, I will have to inform them of…
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Bank and income
Hi there, I have decided to apply for bankruptcy as my debts are far too high to manage, an IVA is out of the question as my partner and my income is slightly too high (his salary is much larger than mine). Whilst I am dreading the process, I do believe this is the only way to for me to get out of this mess. If anyone has…
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DRO - statements advice
Good morning I have been paying a DMP, but I want to move to a DRO as it will help me pay of my debts in a reasonable time frame. I have about 20,000 in debts for various credit cards. I hate that I have myself in this mess, but have been paying off a DMP for a while with finally under 20k left. My current problem is that…
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IVA Advice
Hi all, I'm currently experiencing money problems and have been contacting a company called PayPlan to discuss my options. Following an income and expenditure discussion I've been offered IVA or bankruptcy as options. Can someone explain to me the process and the damages I may face for either option as I'm extremely…
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Three years since bankruptcy
Well it's been quite a journey these last three years since I had to declare myself bankrupt. Just thought I'd have a bit of a ramble in case anyone's interested. Settled down with my new better half in a far more prosperous part of the country, earning more than double what I was three years ago, saving well on our way to…
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Potential Bankruptcy - Couple of questions
I am considering bankruptcy and have a couple of questions. 1) My partner lives with me and rather than having joint finances I simply pay all household bills and she gives me a monthly payment for her share. Would her finances be looked into by the OR? 2) My car is worth about 3200, I don’t want to lose it as there is no…
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Tax code following bankruptcy
When I was made bankrupt, I was given the tax code NT, this should have reverted to my previous tax code at the end of the tax year, but I've just found out it hasn't. Whose job is it to inform my employer? Am I meant to chase for it, or should this be automatic? The upshot is I will now have to make up the unpaid tax…
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Moved: Foreign debt
This discussion has been moved.
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Need advice please - DRO and tenancy agreement
Hi everyone I'm just looking for some advice please. I have finally taken the plunge and begun proceedings to apply for a DRO. I spent a good hour on the phone to Stepchange yesterday, who said that they feel that a DRO is the best place of action for my circumstances. I have just checked my tenancy agreement and have seen…
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Funeral plan
Hello I am currently thinking of taking out a bankruptcy motion and stepchange has asked for details of insurance policy’s etc. I have a prepaid funeral plan I am paying up. Can they make me cash this in? I’m terrified of dying and leaving my family with no way of burying me. It is a simple cremation plan which will have…
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No win no fee scam
Hello, I am looking for advice please, back in 2016 we owned a house which 7 years previously had cavity wall insulation installed, because it was an old terraced house it caused a lot of damage as it had been wrongly installed, we saw you could claim compensation on a no win no fee basis so we signed up as we thought what…
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Out of Bankruptcy but still denied credit
Hi Is there anyone who has come out of BR but still can't get even simple credit like Klarna instalment payments? I've only checked my Experian credit file and its clean, or do I need to check all credit reference agencies to make sure the others follow suit? Thanks
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Getting a Business Bank Account post Bankruptcy
Hope you can help, I have been cleared of bankruptcy now and have my current account, which I have always had, but been using it as my business account, as I really had no there choice. when I became bankrupt I could not open any new accounts, nationwide allowed me to continue using my current account. I now have had a…
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Moved: I'm drowning and I need help!!!
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Tax Credit Overpayment help
Hi all, I have a question regarding an overpayment of tax credit (although I think I know what the answer may be). So firstly I went BR on 12 Feb 2020 and was DC 12 Feb 2021. I was advised in June 2021 that I had been overpaid tax credit for the period Apr 2020 to Mar 2021. They asked for payment in Oct 2021 (to which I…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
