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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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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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Moved: Foreign debt
This discussion has been moved.
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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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Correct credit score
I'm sure this has been covered innumerable times on here but I just need an idiot proof answer if possible. I declared bankruptcy in 2010 and foolishly have never cleaned up my credit reports, never really been an issue as every time we needed credit checking we used my wife's name, she wasn't included in the bankruptcy so…
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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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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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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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Is it worth using Bailiffs to seize goods from debtors house ?
Any advice would be welcome. I have a county court judgement in my favour for over £10k, against an individual. The guy lives in a four bedroom detached house with wife and two children ( both over 18). There is a car in the driveway worth £7-8k. I am checking who the registered owner is and if there is any hire purchase…
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Moved: I'm drowning and I need help!!!
This discussion has been moved.
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High flyer about to land hard or few bankruptcy questions
Hi Dear Community, I hope you all are doing well. Not sure if everyone is willing to know my story so I'll skip most it, but happy to answer any questions. I'm director of an LTD which is about to go down as a result of mostly my bad actions. The ltd was running for several years now and at the beginning it was fine, but I…
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Newly bankrupt questions
Hi everyone I was made bankrupt beginning of January I have had a telephone interview with the OR he asked me to send him a few bits of information and I've had a letter to say he will not need to interview me again but today I had a call from his colleague who said hes been asked to investigate my house sell this was very…
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IVA "management fee charge"
My relative has an IVA which was supposed to last 6 years and when he took it out his debts were about £32K but he was due to pay back less than half of that I think over the 6 years. He knew the IVA "management fee" charge was about £900 and that they had included that into his weekly/monthly repayments. He also knew that…
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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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Copy of IPA
Dear MSE pals, I have recently been discharged from bankruptcy and making some changes in my life. Thanks to all you out there for the help but I have one question regarding the IPA figures. My interview Went smoothly and was given an IPA I am comfortable with if a little tight. I was given a payment schedule for the…
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Not receiving Universal Credit code
I am receiving Universal Credit and had no problems up until today! I cannot sign in as I'm not receiving my code through my mobile. Is there a problem with their systems today?Any suggestions?
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Buying my exes share - How flexible will the Official Receiver be?
Hello, I had my final hearing for divorce finances a few months ago after being 2 years into the process and an order was made to have the house fully signed over to me with no payment, my ex was in contempt of court having never even filed a Form E.. We're two weeks from completion on my new mortgage and transfer of title…
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CRS contact whilst Undischarged
Hi guys. Been contacted today by CRS, a debt recovery agent. Asking me to make arrangements to pay a debt of £37 which was originally a Klarna Debt. When I applied for Bankruptcy. Everything including the small debts were included. I am paying into a IPA and have done since around June 2021. Are CRS trying to pull a fast 1…
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Bankruptcy Advice
Hi All, Unfortunately I have ended up in a bad situation arising from being a personal guarantor to a business. I left the business and directorship in 2018 but the business started to struggle and was liquidated in 2020. I was a guarantor for loans in excess of 300K. I have been employed in full time work since I left but…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
7.3K discussions
41.9K comments
Most recent: IVA and Trading prop firm by ManyWays
31 August at 4:51PM
