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Vehicle for work use, can it be kept?
If you have a vehicle and it’s for work use (van) and the outstanding finance can be met, will you be able to keep this, or can it be taken as an asset?
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Claim form while on IVA
Hi all hoping I can receive some advise on my matter with a creditor I owe money to while on an IVA. My IVA started in May 2020 and one of my creditors unknown to me until recent months wasn't added to the IVA and have now received a CCJ Claim Form from the claimant. This debt was due back in 2016 and the claim form was…
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Partner - credit card questions
Morning, I declared BR back in March of 2020, now discharged. I have no finical links to my partner apart from sharing the same address. Thier credit score is 999 yet they cannot obtain a decent balance transfer card. Is this because of my BR? Ive read different things.. Thanks
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Bankruptcy & Endowment Policy
My father took an endowment policy on my behalf just after I was born several decades ago and he has been consistently making payments into it. I have never paid into myself and complete forgot it existed. I was made bankrupt 4 years ago and i forgot I had the endowment policy so never declared it. I would like to…
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Exempt vehicles in bankruptcy
The Senior Official Receiver (OR) has confirmed that internal guidance to ORs will shortly be updated to say that ‘exempt vehicles worth less than £2,000 are unlikely to be realised’ in bankruptcy. This brings bankruptcy into line with the June 2021 increase in the DRO vehicle disregard. Exempt vehicles worth over £2,000…
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IPA & Employee Strike action
Looking for a little advice before I speak to the Brankruptcy people. I currently pay into an IPA which I pay weekly on a continuous payment authority on my debit card. It has been announced that should no agreement be reached with my employer we will be on Strike from the 30th October and out until a deal is reached.…
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Money paid into old bank account
Good morning, I wonder if anyone can offer any advice. My partner transferred some money into my bank account and I stupidly forgot to update him with my new bank details, so it has been transferred to my old account. He rang his bank straight away and filled a form. They said if the account is closed then the funds should…
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DRO ... for self employed, much difference?
Anyone know what info the IS (or agency) require for a self employed person applying for a DRO? Also, does a DRO mean closing all bank accounts? cheers
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IPA refund?
Hi, I'm 17 payments into a 36 month IPA and was just purely wondering, if after I've paid all of the monies (22k) and say part of it isn't claimed by the creditors, am I entitled to a refund of the remaining funds? If so, would this be an automatic thing or something I would have to claim? Thanks in advance.
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Would you go bankrupt if you had a quarterly service charge demand for £102,000
250 leaseholders in a block of flats in central Leeds have just recived their quarterly service charge for Oct to Dec 2021. It is normally £600 but due to not meeting the new fire safety regulations introduce earlier in the year their managing agt has just issued them with their share of costs to meet the new rules. They…
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Bankruptcy mortgage provider?
Hi, could anyone point me in the direction of any bad credit mortgage advisers, ( bankruptcy 2017) please? Specifically for shared ownership housing? Im wondering if anyone would touch me now, or whether I need to wait untill 2023 six years on? the property value is £62.500 for a 25% share if that helps. Thanks 🙂
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Phone contract upgrade while in BR question.
HiI am in the 10th month of BR. My BR ends mind December. The mobile phone I use for work has gone faulty and I am using a relatives phone at the moment, I am in a contract with EE who has been sending me messages to upgrade, but I have not done due to the value of the contract being above £500, which means I would be…
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Todays DRO question
If a car is on finance, and worth (say) £8000, with a balance outstanding of £4000 would it become liable to being seized if someone went BR or applied for a DRO? and........... are the same rules applied if it has an outstanding logbook loan on it rather than HP?
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Bankruptcy in Northern Ireland climbing
Good Evening everybody. I am new to this site so bare with me . I’m about to go bankrupt £25k in debt credit card and loans. My question is has anybody dealt with the Official Receiver in Belfast as I’m dreading the interview Does he/she take all your extra income for an IPA. Can you also keep your broadband. A family…
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Debt collection and Interest
Sorry if this is the wrong spot, my husband has a debt with Tesco Bank settlement figure was £12k as dated on there last letter asking for settlement, its been passed to Moorcroft now and received letters this morning asking for £18k, im assuming this is with the full interest over the term of the loan. He's going to offer…
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Credit card after DRO
My DRO ended at the beginning of this year, but I’m going to need a credit card towards the end of this year/early next year as I will need to go abroad and rent a car - so I simply need a credit card for car rental rather than actually using it for credit. The problem is I had cards with Aqua and Vanquis that were cleared…
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Change in Circumstances in IPA
Hi guys looking for some quick advice. I’m 1 of the unlucky few that has to pay into an IPA. At the time of declaring bankruptcy my youngest son was in Nursery, which we were paying for with a substantial amount paid for by way of Tax credits. Now my son is no longer in paid childcare we have had a drastic reduction in the…
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Is the Help to Buy Loan written off on bankruptcy
Hi, with a lot people in financial difficulties at the moment and looking at debt forgiveness I wondered if this applies to Help to Buy Loans in the event of bankruptcy as it is a government backed scheme similar to student loans (can't go bankrupt). My friends situation Leasehold flat in London worth £0 due to cladding…
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Another BR Question!
Hi all - hope this situation isn't too complex as other advice areas simply haven't been able to confirm. About to apply for BR - Ex wife left me with a lot of debt and as I'm in a new relationship, I'm wanting to wipe the slate clean so to speak. Now, I've done my income and expenditure and tried to be as accurate as…
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Bankruptcy approved now what
Hello there, I recently had bankruptcy approved and I’m wondering if anyone is able to help advise on the next steps as I’m a bit unsure of what to expect even after reading what is online. I had a call with an examiner which lasted about 30 minutes, they went through what I put on my application and asked a few questions.…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).