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SOA Feedback
Hello lovely people, partner and I are looking into bankruptcy after accruing 100K+ unsecured debt in a very short period of time. Any advice would be greatly appreciated. [font=courier new][b]Statement of Affairs and Personal Balance Sheet[/b][b] Household Information[/b]Number of adults in household........... 2Number of…
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Debt Relief Order and Lump Sum (Bonus)
I am unsure of the rules here and would appreciate if someone could offer a little clarity. When working out income and expenditure, after tax amounts are used. Does this apply to a one off lump sum, such as a bonus. So, if I received a £1150 bonus (over the £1000 limit), but the after tax amount was approximately £800 -…
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Sugar daddies and bankruptcy......
Hello i wonder if people can give me some help! (ive offered to post this on behalf of someone who didn't want to start a new post and be seen as some kind of troll) as it might seem a bit weird A friend was made bankrupt end of May by a firm whom he owed a lot of money to, also had other debts to Telephone interview is…
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Possible IPA assistance please
Hi I wonder if anyone can help me please. I have had my bankruptcy app approved a couple of months ago and have my IPA interview soon. I would like some advice please if possible. I am the sole earner, my wife doesn't work, as is on a very high dose of anti depressants, and my son is 18 and is at college - full time. We…
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Discharged from bankruptcy for 10 months, Credit File still showing balances open
As per the title, Bankrupt in August 2019, Discharged in August 2020 Never heard from receiver or anyone from the original conversation. All the balances and money owed was put in the BR form. However on my credit file it still shows open and defaulted. Is this normal or do I need to do something my end? I read the…
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Southwark council rent arrears and debt relief order can they evict you..
Am in the process of sorting out my debt relief order with stepchange and am giving them information, I am a southwark council tenant and have arrears on my rent of £200 and am going to give a extra £10-15 a month to pay it off but stepchange want to include rent arrears in debt relief order and want me to contact council…
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Template letter for virgin mobile letting them know am unable to pay for my bills to them.
I have just cancelled my direct debits to virgin mobile while waiting for my debt relief order to be put in place and am going to send a letter to them but am really struggling to word it can anyone please help me with a template or advice thanks.
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RTB and wife's bankruptcy, but I'm sole tenant and applicant.
Hi, interested in doing a council house RTB. I'm sole tenant of property and can raise the funds required. Sticking point is my wife's ongoing bankruptcy. She isn't involved in any way with purchase. My only hesitancy is do creditors have any claim to property because we are married? Should we go ahead or wait for…
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Discharge
Hi, just after a bit of advice. Friend of mine was made bankrupt on 4th June 2020 and they have had no confirmation of discharge. Should they email the OR or wait a few more days ? I know covid will play a part. Thanks for any help or advice
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Don't know what to do!!
Afternoon all, just looking for some advice regarding my debts. I have been paying small payments towards my debts for a good few years now all defaulted. Spoke to step change they recommend bankruptcy as i rent and 46k debts. I wanted to go down this route for some time but always to afraid basically i owed my parents 12k…
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What do I do? Is Bankruptcy the best option?
Hi all, I am in a bit of a !!!!!! place with debt. We own our home so we do have this asset however we haven’t been here long so do not have enough equity to look at a secured loan. I have spoken about an IVA however I wouldn’t really be able to afford to pay much at all. I have the option on bankruptcy, this seems really…
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Moving on from bankruptcy
I filed for bankruptcy 2 years ago and have been discharged for over a year. The proceeds of my asset sales were insufficient to settle the debts and I had no income at that time to offset. Every 6 months I receive a request to provide details of my income but until now there not been any as my husband pays the rent, bills…
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Is it ok to cancel direct debits before debt relief order in place.
I have sent off my paperwork to stepchange regarding my debt relief order on Wednesday via special delivery and it was delivered Thursday and am waiting for the barcode to pay the £90 fee is it ok to now start to cancel my direct debits to creditors?
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Existing Credit Card during Bankruptcy.
HiI am halfway (6 months ) of a bankruptcy. The Argos Card I had with £750 balance has been closed but the £500 Amazon card remains open. Obviously I have not used the Credit at all and the balance has remained £0 since I declared myself BR, but If I was to use it, will this be classed as BR offence? Thank You
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Got behind after declaring BR
Hi, Cut a long story short, I've got behind with my bills (council tax) after declaring BR and have yet to set up an IPA. I have my interview on the 30th June to go over my income and expenses. Because I've got behind my monthly repayments will be slightly higher eg. Council tax, water etc, . Will the OR allow that? I have…
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Tax credits
Hello, I was declared BR in 2014, tax credits overpayment was included in this. After the BR I also attended a tribunal for the tax credits. There, a judge ruled the amount cannot be chased as it was included in my BR. I assumed that was the end of the matter but I’ve just received a letter from the HMRC stating I still…
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Bank ballance on BR form???
Hi all, me and my husband are just completing our bankruptcy forms. They ate asking what's in our bank account! We have some money in their but it's their for this months bills rent, utilities and so on. Do I put the amount or put zero? It's showing as if the balance is a asset but come Tuesday the account will be emptied…
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Bankruptcy Cancellation
Hi, I'm looking to have my bankruptcy cancelled as I have cleared all outstanding debts and associated charges, but am struggling to understand how I do this and get an indication of the time this will take, has anyone been through this process and could advise?
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Ex wife went bankrupt
Hi all my ex wife went bankrupt in 2019, I found out she had been gambling and owed over £100k we split up and she went bankrupt without telling me… anyway I made an offer to buy the equity in the house which was accepted and I finally paid off in July 2020 and the charge was removed from the title deeds. My main issue is…
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Charging Order
Hi can someone help I have a charge on my property from a debt incurred in 2008 It is in my name and my fathers. I have very little equity in my property but my dad and mum own their property (both names are on the deeds) he is now in a nursing home and suffers from dementia can they sell my mum & dads home to reclaim the…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
