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Any new br DREADING OR PHONECALL mental health
Has anyone recently sent the form I could ask a few things please. I'm dreading the phonecall. Do they go into everything my debt was caused whilst my mental health was not great and I DON'T want to go back there reliving it. If i say this will they treat me worse
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Exceeding IPA limits
Hi gang🙏 I've been looking at my actual spending and its way above the IPA limits I can see from the SFS and those suggested by forum users and debt charity. That's why I've got in such financial issues -overpspending each month by 200 for about 10 years always hoping to pay it's all back. Mostly stupid stuff like 600…
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Additional bank account
I am due to be discharged from BR in about a month so to be on the safe side will wait until then but I want to open up an additional bank account which I will use for day to day spending (petrol, lunch etc) and keep my main account (A basic nationwide account I opened at the start of BR) for my wages coming in, bills…
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IPA finish confirmation
Hi all. I was given an IPA for the tax year to account for the council tax. I have one payment left on it due 1st March. I will then pay the council tax bill again for 2021/22 My question is will I receive confirmation it is paid up and will I be ok just to cancel the DD after the last payment is made thanks
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11 year old bankruptcy
Hi guys I need a quick bit of advice. I declared myself bankrupt in 2009 and as my home was in negative equity I was allowed to remain in it. The problem is now that I am on an interest only mortgage that will soon be coming to the end of the term and need to sell my property to be able to pay it off. I know that a…
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Salary sacrifice car in BR
Hi I've been told the OR will contact the finance company for the finance amount on the car with a view to sell it if it has value. Can't imagine it does as i paid no deposit and work pays for most. Is it worth writing to the finance company with a statement on my need. Apparently they get to determine whether I keep it or…
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BR QUESTIONS
I have lots of questions I'm afraid. I will fill you in on basics but post after with all the info if needed. I am a single mum of 4 young children. I have an IVA which is about to fail so just trying to get my BR application ready after being adviced. Debts are over 24k. Lost my job due to lock down March last year ..…
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Life assurance
Husband is bankrupt. Due to be discarged in September. We have a joint life policy. Receiver offered to sell it to us for £50 I am puzzled about the wording which states; may lapse.● If you do not proceed with the purchase and premiums continue to be paid, I will be entitled to receive the full proceeds of any claim or…
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Bankruptcy query
I am currently in an Iva but I just wanted to ask the question about bankruptcy as I am afraid that the company may fail my Iva. The problem with bankruptcy is that I have around 5,000 of equity interest in my husbands property. My husband brought the property before we got married, every piece of document is in his name…
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Cheque from OR...?
Afternoon, I've received a random cheque from the Insolvency service for a couple of hundred pounds.. No letter, no description of what it's for, the only other thing apart from my details on there is "Remittance Advice" Can anyone explain what this could be for? I don't want to phone up and find it's been issued in…
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National insurance contributions
Hi guys cant seem to find an answer to this on HMRC website or on this forum. I was made Bankrupt in Dec 2020 and I am self employed. Just completed my tax return for 19/20 and I need to pay class 4 NI as per my profit for that year. Is this included in my Bankruptcy or do I proceed to pay this and inform the OR that I…
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Receiving a gift (car) and bankruptcy Help!
Hi all, I have everything ready to submit my bankruptcy application, I was waiting until Monday when I get paid so I can draw some cash out before my accounts are frozen. I am aware this sounds like a bit of a crazy made up story but it's not.... My doorbell rang tonight unexpectedly and a family member has bought me a new…
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Phone call from OR's assistant
HI, Just had a phonecall from the ORs assistant who, to put it midly, was rude, and implied I had assets I was hiding and belittled my mental health issues, asking about relationships and why they broke down. Horrific. Hopefully the OR will be a bit nicer when they call me in two weeks time. Has anyone else had a call from…
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Adjudicators letter.
Received today email from the OR.Some forms to sign and return with regard to data protection , HMRC etc. and ethnic group.He has also said that they do not need to interview me any further. My phone call last week lasted about 30 mins and was a simple and pleasant , relatively speaking , conversationAfter all the nerves…
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Light at the end of the tunnel.....
I just wanted to share my experiences and give faith to all of you who are going through BR. I went BR in 2017 was discharged in 2018. From the end of 2017 to the end of 2020 I paid (a lot) into an IPA. Nothing of what has happened to me has been unfair or unreasonable. I am now out of the IPA chains and rebuilding my…
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Bankruptcy
Hi I have previously declared bankruptcy and have been discharged for 6 years now. I spent years speaking with the insolvency service, debt advisors etc to ensure that I was making the correct choice for me. The main debt was a legal aid debt which I had signed to a Statutory Charge when my legal aid was completed. My…
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Partners income when assessing ipa
Hypothetical question. When the OR looks at household income where the partner brings in more than the one applying for bankruptcy. If they decide that household expenses should be split say 60 / 40 , can they legally enforce such a situation. Surely the OR has no call on how a partner disposes of their income where they…
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Debt help needed
I was previously self employed and about 18months ago shut the business and both myself and my husband declared bankrupt. Since, one of our employees opened an employment tribunal case against the business to claim back holiday pay which was unpaid. Obviously with us declaring bankrupt we are no longer the directors of the…
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Solved - Bankrupt but bequeathed share of property
Hi My Dad passed in April after I declared myself bankrupt with 20 years worth of debts totalling 65K. In 2007 my parents had a weird will written up. In it it said that half of his half was to go to my Mum and the remaining half was to be split equally between me and my two brothers. So I'm bankrupt but have an 8.33%…
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Trying to obtain mortgage 7yrs post bankruptcy
Hi Everyone myself & husband are nearly 7 years clear of our bankruptcy (negative equity from property crash 2007). we both have excellent credit scores and no dept. our rental is now being put on the market and this is our third rental over the last 7 years. Heart is broke with all the moving. We have 10yr old & 7 yr old…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
7.2K discussions
41.6K comments
Most recent: Hoping to apply for a DRO by sourcrates
15 August at 2:19PM
