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The official receiver as liquidator
I’m after some help and guidance and more support. i was the director of a convenience store which in the main made a living. Half way through its life I suffered an armed robbery at home. Suffice to say never caught and not insured so my net profit for year went in 30 seconds.along with paperwork keys etc etc. HMRC…
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A couple of BR questions.
I've been discharged since Oct 2019. I am managing my finances well, and have two credit cards - £1000 and £1500 limit - that I am using to show good credit. I've got a couple of questions: * Does it matter how much you put on the card each month, in terms of rebuilding your credit score? I'm just paying my mobile phone…
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Is Bankruptcy as Daunting and Scary as it seem
Hi guys, I’m putting off filling out the Bankruptcy application online because it’s really daunting and scary, like a leap into the unknown. I need to complete the form as I know for a fact I will never be able to pay my debts back. I have started the 1st couple of sections, in regards to income and expenditure, do I still…
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6 year rule
I am just coming to my first year of BR, discharge imminent. On checking my credit file, everything is there in black and white, all my creditors are showing as in default. Barclaycard however is still showing as a healthy account with a payment calendar that’s green! (I haven’t made a payment in over 2 years) the balance…
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Inheritance
My Sister lives with my mum, she has mental health problems and hidden the fact she has run up alot of debt and a CCJ. My Mother is elderly and has no will and owns the house outright. I have one other sibling, we have talked about the future and my mother wanted my sister to live there indefinitely. We do not object to…
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Advantis and IPA payments
Hi. I am now at the end of the first year, so will now start paying tax and council tax. They have asked for the last 3 months payslips, however during these months I have worked a lot of overtime and subsequently earned more (including the tax relief) during these months. What will happen when they see this on the slips?…
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Can I be chased for old debts after IVA ends?
Hi all, I have just received a letter from a debt collector about an old debt defaulted in 2016. I entered in an IVA in 2018 so this debt should have been added to it. I have contacted the IVA agency who agreed and are currently in the process of dealing with this. However, this got me worried about what if I receive…
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ADJ Number / Bankruptcy
Hi guys. I am currently a member of the Transport Benevolent Fund through my employer. Which I pay a small contribution to weekly. I recently got in touch with them to enquire whether they are able to assist with the Bankruptcy fee, which they have said yes they can. They are asking for an ADJ number to allow them to make…
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Soa Preparing to bite the bullet!!
Hiya me and my partner are finally getting ready to apply for bankruptcy and a dro would these figures be okay x Household Information[/b]Number of adults in household........... 2Number of children in household......... 2Number of cars owned.................... 1[b] Monthly Income Details[/b]Monthly income after…
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Bankruptcy / Stepchange Calculations
Hi guys After working out my finances via the Stepchange website, it states my options are an IVA or Bankruptcy. I would prefer to declare bankruptcy but it’s so daunting, scary, whatever you want to call it. I have been as accurate and truthful as I possibly can in regards to income and expenditure. Can someone give…
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Bankruptcy & car assistance Lon from employer
Hi, if I was to apply to be made bankrupt, would I still be able to keep my car? It’s on a car assistance loan through my employer, less than 3 years old and worth £8000, paying around £130 a month with 4 years to go on payments. I have children and use my car for school and work. thanks
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Discharged after six years if never spoke to OR?
If itt takes six years from bankruptcy date to be wiped off credit file then would this also be automatically discharged then as well? I keep missing the official receiver, she left messages for me but I have no credit to get back to her and now she won't call me back. If she doesn't call me again at all does that mean I…
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Appealing a bankruptcy order
Hello Team I was declared bankrupt 17/03/21 my defence was the bank did not prove the debt unfortunately the judge said I failed to provide evidence . Can I appeal ? What is the process. Many thanks
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Companies irresponsible lending
Hello, I'm recently discharged and doing the cleanup process. Two of my creditors have sent me emails regarding their irresponsible lending and to submit a claim, this is a group thing currently with prudential who run satsuma loans. I had several loans with them including two active ones when I went bankrupt. I read that…
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Internet
Has anyone heard of/aware of if a domain name for websites is intellectual property and therefore potentially considered an asset? Could it therefore be worth flagging to the Official Receiver having filed for bankruptcy and currently in the bankruptcy order period? Minimal cost per year to buy (less than $30) so low value.
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Question on Expenses - cash
I am filling out cost of living expenses & I have direct debits for things like mobile and gym etc. I spend around £175.00 a week on Petrol, food/drink/booze , takeaways, tobacco, toiletries, newspaper/ lottery parking & train tickets, but I have always tended to mainly pay for these with cash for these each week as this…
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Post bankruptcy savings and selling household items
Dear Forumers, I've recently been declared bankrupt after a long period struggling to service my debts. Redundancy and Covid conspired to force me to give up the unequal struggle and start afresh. I am presently registered self employed. I receive the basic Universal Credit payment because of my very low monthly income,…
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Rent costs
With regards to cost of living what is a reasonable amount I can put down without the Official reciever asking questions. I currently live with parents and pay them rent of £350 to live there is this a reasonable amount as I am an an adult say as the average rent for a place where I live is a round £1000each mont with…
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Can I open a child’s saving account
Hi, just wondered can I open a saving account for my two daughters before I’m discharged? I’m due to be discharged on 5th May so am I better just waiting a bit longer? I bank with nationwide and was looking at them if that makes a difference Thanks
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gambling and bankruptcy
I have £60k in debt, which £15k of that is gambling in High street bookies last summer as I my business and been struggling to Covid. I am not proud of this. If I include this in my bankruptcy will I get into trouble as I don't want a prison sentence or a criminal record as I can see the official receiver may see as fraud.
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
7.2K discussions
41.6K comments
Most recent: How's your experience been with a DRO? by elsien
26 August at 8:45PM
