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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.…
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Bankruptcy fee paid
Hi guys, I’ve just had confirmation the charity I’m a member of the bankruptcy has now been paid in full. I’ve not submitted the application yet as they say it can take a couple of days to show on the application. I’m so so worried, feel a little sick, and really apprehensive about hitting that submit button when it…
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Partners income
I’ve finally declared myself bankrupt this week, after a separation from my husband 2 years ago which was messy, I finally moved on and now live with my new partner, so I have a few questions relations to my impending official receiver interview will my partners income be counted towards disposable income my she had her…
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Please Help - Week away from..
:(Bankrupcy. Please can someone help advise my situation I have been CAB not really give me any real advice. * I have lost my property owe £9000 in Mortgage and as it is in Negative equity they I now owe £25000 short fall im told. * Owe £15000 in CC debt * £3000 in various other things utilities etc. * I had £4k in savings…
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Advice needed as considering bankruptcy
Firstly hello and I hope everyone is safe and well. I am on disability of ESA and PIP and my monthly credit card and loans payments are simply unaffordable. I don't own home or have savings, own a car outright etc etc. I am just concerned about life after bankruptcy and don't know anyone who can answer my questions. So…
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Mortgage after BR
Hi, I was forced into BR in Nov 2017 and I was discharged in Nov 2018. My credit score is slowly going up but I have been told by financial experts that before 3 years I can get a mortgage but it will be a larger deposit and the rate won't be very good. I really want to buy now (3 years will be up this year Nov 2021) is…
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Bankruptcy - you can't "manage or promote a company", but what does that actually mean?
Does anyone know? I've read the bankruptcy restrictions guide on the gov.uk site here: https://www.gov.uk/bankruptcy/restrictions It says you cannot "create, manage or promote a company without the court’s permission", but what in practice does that involve. I understand that you can be employed while you are bankrupt, so…
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Bankruptcy discharge.
Hello there. Wondering if anyone can give me some advice. I have one month till I am discharged for my bankruptcy. I need to know more about the certificate to prove that I am discharged because last week I had a soft search done by Lowell for affordability. All debts were put into the bankruptcy and I need to know what…
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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........... 2 Number of children in household......... 2 Number 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
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
7.3K discussions
41.8K comments
Most recent: Couple of DRO Clarifications Please by sourcrates
1 March at 7:21PM
