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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…
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About to Press the Button.....Does my what I spend look OK?
Hi Im about to press the dreaded button and have addded up my expenses and income.* Any thoughts would be great!! Thanks! ____________________________ Income Total income £ 1984.79 per month Salary or wages £1984.79 per month Net income £ 1984.79 per month Amount you pay in income tax £ 394.00 per month * Expenses Total…
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Just pressed "Send" on BR application - a couple of worries
Hi All,Background: I've never known what its like to not be in debt. I've been in debt since I was 18. What started as living beyond my means on a low income, ended up with over commitment on credit cards and payday loans. Even as my income increased I was never able to get on top of my debts, and they have followed me…
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Bankruptcy
Hi, I hoping to speak to people in a similar situation. 15 years ago I got a mortgage with an ex. We split up, I paid him £10,000 to have nothing more to do with the house. We both agreed. He fell behind in payments and cutting it short, he went on an iva I think as he paid so much for 4 years now he's finished. Stupidly I…
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Moved: Help needed
This discussion has been moved.
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Moved: High electric bill
This discussion has been moved.
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Husbands Income
I am nearly there with submitting for bankruptcy - however have a couple of questions regarding my husbands income. Currently I pay all the bills etc. and he simply pays me an amount each month (£600) - this has been reduced from £860 in the last year as he too has debt problems. When I put income in I have added the £600…
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Bankruptcy or DMP ?
I realised I was in over my head this time last year and had been struggling with a lot of debt that was just never going down due to minimum payments and interest etc - meeting all the payments but then using credit to live on - I am sure you know where I am coming from. Had a breakdown last Feb - and then we moved into…
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Can’t cope with debt/bailiff
I have problems with mental health.I have ptsd and anxiety from domestic abuse.roughly 18 months ago a bailiff walked into my house and demanded payment of c.tax arrears I didn’t know I had.I had a panic attack,he still persisted he said he needed over £1000 in 24 hrs.I literally collapsed in a heap on floor infront of him…
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Pension 8 years after discharge.
Good morning all, I will be turning 55 next month and intend to start drawing down a small pension and/or maybe take a small tax free lump sum I was BR in 2012 and fully discharged 12 months later. Absolutely all debt was included in my BR, and was also informed by the OR that they had no interest in my personal pension.…
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Don't have pension details to declare in application, help!
Good afternoon, I have the fee to declare myself bankrupt. I started my application today, unfortunately I don't have my pension details from my previous employer. I have rung to ask for a statement, it can take 40 working days which will take us to Mid March. I am going to be issued with default notices in the imminent…
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Couple of questions post BR
Hi all. I went through the BR process over a month ago. It seemed to be straight forward, no homeowner or car owner. OR said via email she will not need to interview me any further because she had all the info. I never received a phone call from them. However, just yesterday, my landlord (housing associate office) just…
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Oops!
I applied and was approved for br last week and had phone call with OR, all good so far. looking back through paperwork I notice that I forgot to add one of my debts to the application, relatively speaking it’s not a large amount , £650, but still a debt. Will it be included in the bankruptcy? Also got a tax rebate from…
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Pension contributions in an IPA
HiI'm staring down the face of bankruptcy and it seems people are paying more into their pension than me. I've been paying the minimum of 4% but have been advised I can pay up to 15%. Is this true? I will still be paying into an ipa
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DRO and bank accounts
Does a DRO mean bank accounts (basic/no overdraft facility) are shut down as in a BR?
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
