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Can I declare bankrupcy after house repossession with negative equity?
I have a mortgage with an ex. I moved out of the property 13 years ago and he paid the minimum interest payments on the mortgage whilst he lived there. He moved out several years ago (without letting me know) and then stopped the payments last year (also without telling me). I tried to get the property on the market…
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Bankruptcy and Shared Living Expenses
My husband is currently facing bankruptcy following the collapse of his business in 2019 and a particularly aggressive creditor. The original lender sold the debt which was in the region of £45k, and the purchaser has now escalated it to over £100k including all the interest and costs and obtained a CCJ. They’ve refused…
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Can HSBC do this?
In 2022 I had no choice but to declare myself bankrupt. In 2018 I had purchased a flat with a mortgage from HSBC and two years later found myself needing to move. Initially valued at £160k I had a buyer within a couple of weeks. Five months later my buyers mortgage lender withdrew the offer at the eleventh hour and the…
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IVA - 3 questions
1). I am going through work (NHS) for a new car as my current one has been ok but getting more expensive with the repairs. I do need a car for my job. However I am in the middle of an IVA. The payment for the car is taken out of my pay at source (before tax and national insurance) and over all it is going to cost me way…
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Moved: CCJ
This discussion has been moved.
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Shared ownership mortgage in my name only
Hi, looking for advice on if my husband was to go bankrupt. I have a mortgage on our home which is a shared ownership property where I own 25%? the Housing Association owns the other 75% which we pay rent on. My husband is on the tenancy but the house was purchased by myself before we met. If he were to go bankrupt would…
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Anniversary of bankruptcy
Hi all, I went bankrupt 6th February 2024 so today is the years anniversary. I didn't earn enough to be able to afford an IPA. Should I expect anything else to happen? Or fingers crossed, is that it done and dusted? Kind regards
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Iva’s and buying a new home
Good evening ! I am in need of advice please. My IVA is finished this June. (5years) it will be on my credit file for 6 years. Will this disappear from my credit record after 6 years?. I own my home and desperately need to move due to anti social behavior affecting the street and horrific next door neighbors. I’m hoping…
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How to remove charge from property
I have a house, I want to move house but have noticed a bankruptcy notice on the titles, this is “pending action” (I have never been made bankrupt, but the notice was made in 2011!! I don’t know who brought about this notice, I cannot get thru the relevant Count Court to find out who issued this in 2011…HM Land registry…
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Job application and Bankruptcy
Hi all. I wondered if anyone can shed some light on this for me please. Am applying for jobs currently and this application says 'Due to this being a role in scope for Insurance Distribution Directive (IDD) it is a prerequisite that you are not currently bankrupt and do not have an unspent conviction for a serious criminal…
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Moved: How to cope with debt mentally?
This discussion has been moved.
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Property held in discretionary trust and bankruptcy/IVO/DRO...
Hi all, Hope someone here can advise me on this. My aunt is planning to set up a discretionary trust to include the family home, where my cousin who is disabled will be allowed to remain living. Trouble is, cousin is in a hell of a lot of debt, and is potentially going to face bankrupcy or an IVO/DRO at some point in the…
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Old Bankruptcy and Demands today from creditors?
Back in the late eighties and into the early ninetees, I was a small gardening business and in partership with a friend. While we had the business going, we both had the same small pension going with the then 'Midland Bank'. We went bankrupt 24 years ago and everything was dealt with. Now, 24 years later the Royal London…
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Bankruptcy Process
Hello I've recently discovered that I was made bankrupt ten years ago. I assumed this coincided with a house move as I never received any paperwork for it. I also learned that the bankruptcy has been listed as to not close as I didn’t engage so it didn’t automatically close after a year. Is there a process for it be…
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IPA: not signed yet and I’m discharged in two weeks!
Advice please 🙏 I haven’t completed the income/outgoings paperwork and sent it back as my circumstances have changed for the worst. I’ve split up from my partner and I’m currently homeless and sofa surfing. I’ve read online if the IPA isn't signed before I’m discharged it’s not legally valid? Is this correct? I have a…
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Partnership business failing
Hi, im not sure if this is the right place to post but we have a family business (parents and child) and we are due to run out of cash flow. We owe nearly 600k of debt, however we do have assets, including a building that we own but we have a loan secured on this. The building is worth around 300k with the loan value of…
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Is there always an interview with OR?
I went BR by my own application on the 8th of January 2025, but have not been invited to interview with the OR. I’ve agreed and signed an IPA via email - which is an NT tax code only for the remainder of the tax year, and the same for council tax as I have no spare income. I’ve also given an account of when and how my…
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Debt Problems, don't want an IVA but seems the only solution
I'm currently considering an IVA through StepChange and would really appreciate some advice from anyone who's been in a similar situation. I have £46K of unsecured debt spread across three loans and three credit cards, and I’m feeling stuck despite trying multiple options. Here’s my situation: * I own a house with around…
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Scottish Map Process
Has anyone gone through this recently? I've come to the end of stressing about debt , tried my best to deal with what I can with what I've coming in , restructuring at work means a cut I'm hours to save jobs.
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Bankruptcy and credit file
Hello everyone, I applied for bankruptcy in January 2019. My ClearScore report shows that my credit cards were closed in 2019. my transunion report show that I still owe these cards money. 6 years have passed now and I would like to try to tidy my credit report. please could you advise me on how to get these removed from…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
