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Silly question but one that can hopefully be answered.
When people go bankrupt or are forced into it. How come some are still living it up? IE nice house flash cars/etc? The people I know are married and I thought as most people have joint property and often the man puts his name on the car unless you have more than one, I'm confused. Re debts. When bailiffs chase people for…
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Bankruptcy off credit file...
I am confused, I have trawled through the forums and googled this but I don't know if I am being thick or it's just not clear... When is your bankruptcy cleared off your credit file? From the point of being declared bankrupt or From the point of discarge? So, if I went bankrupt in August 2018, it means it comes off my…
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Getting Divorced and soon to be Ex made Bankrupt by HMRC
Hello I am hoping some one can give some advise. I am currently going through a really nasty messy divorce, i filed and had to get papers served as he was ignoring everything. Filled for Divorce September 2019.papers served May 2020. First Divorce court hearing 22 June. My solicitor advised me 2 weeks prior to my hearing…
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Bankruptcy order made. Question about Bank 2 letter, help needed.
Hi all, My bankruptcy order was made on Tuesday. Yesterday I had a bank 2 letter to my co op basic account basically saying any balance should be released to the bankrupt. Currently the bank account has £10.00 in, tomorrow I will receive a benefit payment of £200.00. I need to ring the bank today to inform them of my…
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Discharge due tomorrow..
Afternoon, Well, my time has nearly come and due to be discharged this week.. What happens from here? I accepted BRU and an IPA. Should my "defaulted" accounts be labeled as settled once discharged or do I need to wait until I've finished paying the IPA? Also on the Insolvency register, should that change from Bankrupt to…
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Tax phone call.
Hi all, had a phone call from Advantis Credit Ltd about tax owed. I paid the money owed from November as this is how long it has taken for contact to be made, then, i was asked to send them 3 months payslips, is this normal? Thought the amount i had agreed with the OR was the amount i had to pay.
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How do pay my bills with a frozen bank account
I am in the research stage of considering bankruptcy but I am worried how I will pay my bills when my bank account is frozen. My current account is a basic one anyway. Should I apply for a “spare account” before bankruptcy ? Surely that would be frozen too? I’m confused about the order in which accounts are frozen and new…
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Discharging OR Charging Order Help
Hello, I was bankrupt in 2010, and discharged within 6 months, and a charging order was put on our home. I haven't heard from the OR at all since then and we're about to sell our house - how do we go about find out how much we owe to the OR? Thank you :)
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Stepson and being guarantor
Hi all, Just a question that's concerning me. My stepson is a guarantor for an Amigo loan for his now ex partner, she's told him today she cant pay her gas bill, £2.5k in arrears, and thinking of going bankrupt. How does he stand as per the loan? will he still have to pay or can it be included in her proceeding?. Any…
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Possible Redundancy
Hi Hoping someone can help I am discharged from bankruptcy and have 9 IPA payments left to pay Possibility of redundancy looming at work , will I be able to retain my pay out now am discharge ? Thank you Rachel
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Moorcroft recovery
Just received a letter from Moorcroft demanding payment.Why are they doing this when I went BR in May 2020 and the debt pre dates this
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Just pressed submit, feel a bit sick! what can I expect to happen next? Thanks
Hi all, Thanks for the invaluable help! I have submitted today, can anyone advise what will happen now and general timescales.
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Planning to declare bankrupt - advice wanted please
Hi So to cut a long story short I've completely stopped paying off anything on my debts for the last year or two. I've been considering bankruptcy for a wile as it seems the most appropriate option. (The stepchange website/questionnaire thingy seems to agree). I've got just over 50k worth of debit spread across Credit…
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Friend being made Bankrupt
a friend not a "friend" has a creditor who for around 14K is being made Bankrupt because of the way they have been messed, this actually works out well for the person concerned a question they asked me and i thought it was a big NO NO, their hearing is in May and they asked about taking out credit before this and then…
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A couple of final questions before I submit.. Help much appreciated.
Hi, A big thanks to all who have helped me so far. Just a few final questions before I click submit tomorrow. 1. I get paid tomorrow, do I leave money in the account for my direct debits due out next week (gas and elec,union, house ins etc) or do I draw it out and arrange to pay at a later date? 2. If I withdraw cash do I…
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SOA attached, advice needed. submitting Friday.. Thanks in advance
Hi all, So I have finally received my workplace pension statement and have finished my application form ready to submit.. Please can I have some advice on my SOA I went through these with step change a while ago and they said food is a little high, we do generally spend more than most of these amounts, without living…
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Discharge due but ipa forms recieved from grant thornton
Hi please I really hope someone can give me some advice. I am due to be discharged in 48hrs on 26th Feb but recieved a letter this morning to say Grant Thornton are now trustees of my bankruocy and 'to enable them to decide whether to apply to the courts for a IPO I need to complete the inclosed form' I thought an IPA had…
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Bankruptcy seizure
Would a prepaid funeral plan (£6000 each) be seized by the Insolvency if someone went bankrupt?
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Under DRO with Car
Hi can anyone help, i am currently under a DRO which i hope will end after 1 year. I have a car which was allowed as it was worth less than £1000. My problem is this car is playing up to the point that i may have to get rid of it and get another one. Am i allowed to do this? I don't think i am allowed credit at the moment…
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Discharge in a couple weeks
Hi, so am due to be discharged in a couple of weeks, I currently have no IPA or anything set up - I've had no contact from anyone since the first month and a quick email confirming I hadn't been able to recommence a second job I told them may happen. If I haven't heard anything for all this time should I expect anymore…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
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