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Universal Credit advance Payment and Bankruptcy
Hi all, Does anyone know if Universal Credit will automatically stop taking payments for advance payment once I've been made bankrupt? Do I have to send them anything in writing? Thank you
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Dissolving lots of limited companies and renting when rich
I'm working for a guy and bit worried about getting paid but that's another issue. I checked his name out on google and he has lots of limited companies which have been dissolved in the last twenty years. Someone told me this essentially legalised fraud where they buy lots of goods then when they can't afford to pay it…
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Main Account in Bankruptcy application
I’ve recently opened a new basic bank account, which I will be having my income paid into from 23rd April. The bankruptcy application asks, which is my main account, pretty straight forward question I know. But do I select my new basic account on my application (there’ll be no activity on the account until 23rd onwards) or…
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Post-bankruptcy & BRU restrictions
Hi all, Thank for taking time to read my message. I'm just looking for some guidance around rebuilding my credit score after being discharged over 2 years ago but still under BRU restrictions for 12 months. I know it mentions under the BRU/BRO restrictions that if you are applying for credit over £500, you need to make…
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Voluntary Repossession feels like a burden lifted
Hi all, I have a mortgage on an old Victorian property which has a history of subsidence. A claim was made by previous owners to fix and as a result my insurance has a caveat to exclude subsidence or any "preexisting condition". The foundations of the house are in ruins and like a naive person, when I bought the house 5…
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Finances while separating from husband
I have an IVA with 2.5yrs left with my husband. However, I want to end our relationship of 11yrs. Neither of us had, or have a good relationship with money, but I am tired of dealing with everything by myself every single time. I am always the one who finds solutions and ways to deal with things while he just sticks his…
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Bankruptcy feelings
Hay so recently made bankrupt 6/2/21 the initial feeling of relief I had was overwhelming disbelief that I actually did it and now debts can’t chase me call me email me all day long. When I did answer the phone and they checked the register they apologised and the calls stopped it was so strange and I felt relief for the…
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Enquiry from OR
Hi everyone. I declared bankruptcy in May 2018 and discharged May 2019. During the period of bankruptcy my Mum passed away leaving her house to my brother and I to be sold and proceeds shared. I informed the OR and was advised that my beneficial interest now belonged to the OR as after acquired. I was also told that when…
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Notice of enforcement.
Hello i do hope that you are all doing good, well i am not. I am first time of here so if i do break any rules let me know. As from last week of wed, i got notice of enforcement. Which issued on 6th april 2021. . Which it say i need to pay all my debt by 16:00 19th april 2021, which i can do. I just need time till on 19th,…
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Please help now discharged
Hi Myself and my partner are both now discharged after 12 months of bankruptcy and have fully co operated with the OR all the way through the process and no IPA was put in place because of low income. I have now been passed to a IP because I had a property we have now left and returned the keys to the mortgage provider and…
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Credit file cleanup deadline
Hello, I am currently in the process of credit file clean up and one company has responded saying 'My team do not provide any changes to credit file and the ICO one month deadline relates to personal data updates, credit files are treated within our FCA compliance and therefore the same deadlines do not apply' They have so…
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About to submit Bankruptcy
Quick question. Im about to submit my bankruptcy application, after speaking with my bank Santander, they have informed me my account will be frozen until a decision is made in regards to whether I can continue using the account. Obviously the application requests details of all bank accounts. I have been instructed by CAB…
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Bankruptcy friendly Bank Account
Hi guys, Online bankruptcy application is now showing ‘ready to submit’. I obviously need a basic bank account to make sure I still receive my income once the OR freezes my Current accounts, my main banking is with Santander. Can anyone recommend a basic account. I was looking at HSBC but after speaking to someone in…
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Self Assessment Tax return
Hi, I am employed and also self employed. for the year 2020-2021 my tax was nil due to the bankruptcy. I have just tried to to file my tax return for the year 20-21 and when it has calculated my return it appears to want to add the tax on that I have underpaid due to being on a nil tax code. Has anyone had any experience…
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Are DD’s & SO’s still honoured.
When a main usage bank account is frozen are direct debits and standing order still honoured. For example when I submit my application, let’s say my account gets frozen by the bank on Wednesday/Thursday and there are Direct debits due on the Friday, will they be honoured. And.......... alternative question, if my accounts…
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Not as clued up as I thought I was....
Hi all After nearly 12 months of following I have finally decided to post. I was all for going BR. Stepchange helped with my SOA. Spoke to my employer to make sure emplyment won't be effected ( I work as a secretary for a solicitors). In the process of raising my BR fee. Applied for the Gov account and filled in just the…
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Bankruptcy advice please!
Hi, I'm currently on an IVA with 2.5 years to go. I've asked for a review on my monthly payments (which were £301 p/m) as I have split from my partner and struggling financially, mainly due to extortionate rent in London. I've heard today that they are more or less halving the payments but have extended the term of the IVA…
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Bankruptcy experiences?
Hi I’m looking at bankruptcy, been reading up a lot about it but would be really grateful for others’ advice/experiences. -Having spoken to National Debtline and StepChange and gone through my budget, I will get an IPA. Does that mean I’m likely to have to provide bank statements every month or suchlike? Don’t get me…
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Household income / personal expenditure
I am currently going through my bankruptcy application, but a little confused. I have input my income and my wife’s income. However as I understand it I only need to provide my own personal expenditure, my problem is, myself and wife have never split the essential bills, I pay all the essential bills whilst she looks after…
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Almost submitted BR application......
And then I discovered this amazing wealth of knowledge and people here on MSE, so maybe it’s best I hold fire and get some advice. I have 20 creditors and a debt of almost £58,000. The single largest being HRMC at £18,000 and then a loan from in-law’s at £8600 and then various CC’s, catalogues etc and a Zopa personal loan.…