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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.…
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Bankruptcy and selling car
Hi I’m after advice. If Fred sold his car two months before filing for BR and used it to part pay back frank who originally leant him the money in the first place (total £450) does frank need to pay the £450 back to the OR and then make a claim on it very and get some back?
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Who do I need to contact.
Will keep it short, Went BR and now discharged. Have gone to changed my Broadband to BT they’ve called back to say I failed credit check because an old debt from 2017 is showing as active on my file? Is it down to them to update or the credit file company?thanks
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Moved: Refusing to default/not defaulting
This discussion has been moved.
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Debt hole. Falling further.
Hiya, 27 year old from South West. In debt situation and really struggling. I've always put my head into the sand but realising my mistakes early 20s have caught up. Full time employment 2012-2018 (£12,000-£30,000). Opened £1500 credit card account in 2015 and used until 2018. Was using for petrol, food shops, paying back…
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OR Interview
Hi All, Those of you who have been through bankruptcy...how long did it take from submitting the application to the decision being made? And when was your OR interview? Was this done at a pre-arranged date and time that you knew about beforehand, or does the OR just randomly call you sometime after you have submitted the…
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Debtb relief order extra payment
Hi Anyone please can you help. I have had a DRO last December but have since received a payment of £900 from an affordabilty claim that was submitted before the dro was applied for. What do I need to do?
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Personal Injury Payment after discharge
Accident took place a year after discharge, it's now just over 3 years since discharge and will getting a lump sum from Personal Injury Claim in a few a months ( I hope ). I used the MAP bankruptcy and was discharged after 6 months, so it's 3 1/2 years since going bankrupt. Do I need to inform the AIB of the money? There…
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IPA Interview Question
Hello - after over 12 months of plucking up the courage I applied for bankruptcy on Friday - had the confirmation of acceptance on Monday and the OR called me today. During the interview I was asked about the circumstances about how I got in this situation etc. He said he had looked at my credit file and could see when the…
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Assets abroad
Hi, I am looking at possible bankruptcy. I currently live in England but have a 5% share in a company abroad, apparently worth €800. I have never received any money from this company. I am hesitant to disclose this asset to them as it would cause big inconvenience for the compay owner who is majority shareholder. I guess…
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DRO or BR....
If someone was borderline bankrupt but could have the option of a DRO what would you say are the pro's and cons of the 2? it seems a DRO (now £30,000 limit) is scrutinised more than a BR, and that the (sole debts) debtors partners income and assets are are risk (and counted as joint income) whereas with a proper BR -…
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When will this drop off my file?
This debt was from 2010 and defaulted in 2016 so when will it drop off my file please? Is it on the 6yr anniversary exactly?
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Phone contract after discharge.
Been discharged for nearly a year now. My phone is on the verge of dying! Who’s best to try for a contract? Or do I have no chance?
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
