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Documents/Statements to give to OR - what they will want and how far back?
Hello I'm preparing to go bankrupt (will submit application in the next month). My debts have snowballed over many many years (12 years plus). Can you confirm how far back the OR will want me to go in providing documents as I want to start getting prepared. Thanks very much. M
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Newly Bankrupt
Hi there. New to the forum.just thought I’d relate my experience so far. I submitted my application and paid the fee Friday 8th Jan, got email Monday 11th to say it was approved. Had a phone call from OR this morning asking if it was ok to do the interview over phone there and then. Caught me on the hop a bit but I wasn’t…
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What happens if you don’t get discharged?
Has there ever been a case where someone goes bankrupt but for some reason or other doesn’t get discharged? what would happen? what if someone was happy to hit live a simple life and never get credit again?
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Debt Relief Orders - consultation launched
A consultation has been launched today to change the eligibility criteria for a DRO. The proposal is to set new financial limits that would:* Increase the total amount of debt allowable to £30,000 (from £20,000); * Increase the value of assets owned by the individual to £2,000 (from £1000). We are not proposing to change…
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BR / IVA - I don't even know anymore
Hi all, I am getting in such a mess, a bit like my finances really. I've added my story and SOA below. I had an awful phone call with StepChange where the IVA team couldn't have been any less empathic, helpful or reasonable. I then had two really helpful calls from people at PayPlan and CreditFix but now I don't know…
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Financial Services Compensation Scheme
I was declared bankrupt in July 2015. This came about as a result of taking some bad financial advice including the moving of pension funds from one scheme to another. A few months before my bankruptcy I joined a joint action to claim against the invedtment/pension company. I fully cooperated with the Official Receiver and…
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Failed IVA
I’m sure this has already been asked, but I wanted some specific guidance for my partner. About two years ago my partner was in another relationship and it turned out his ex had taken out a large amount of credit in his name. She didn’t work and had been concealing the late payment letters etc. She only told him when the…
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Any help will be appreciated
Hello all and happy new year. I applied for BR and was approved in october 2020. Everything was fine however i have reveived a letter from Link financial saying Aqua (credit card) has sold my debt to them.and i need to show the letter to my insolvency practitioner they will also inform her. Now im abit worried will they…
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SOA Advice
Hi, I am in a situation which seems both very simple yet at the same time complicated. Having developed a disordered gambling addiction I ended up committing a crime and spent several years in prison. I overcame my addiction (3 years plus now) and I am now out on licence and trying to get my/our future sorted out. As a…
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bankruptcy and getting second job
Hi all, I rarely post anything on MSE forums but here we go again. I was declared bankrupt last April and have about three months to be discharged hopefully. I'm on furlough now until lockdown ends or when kids come back to college, we don't know. I'm a contractor, contracted term times, so half terms and summer holidays,…
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Council Tax liability under BR
Myself & husband were declared BR mid-April, and as expected our council tax bill for the 2020-21 year was written off. However, due to an adjustment of benefits, they have reassessed now for the period from Sept and as a result are billing us for that period Sept-April. Upon enquiry they have informed me that because the…
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CTR when new tax year starts
Hi, I’m now 8 months into bankruptcy and all seems smooth so far. Reading a thread the other day about council tax, it occurred to me my IPA for the council tax will finish in March and I will be issued with a bill for the new tax year. My bill was reduced by council tax reduction benefit, will this just pick up again? I…
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Dreading OR Interview tomorrow
Hi, so here goes my first post, sorry if its a little lengthy...i went BR last Weds (12.2.20) and, until today, the only correspondence I've had have been copies of the bank letters and a letter saying I can keep my car. Today I received a phone call (I was driving so didn't answer), this was followed up with a very abrupt…
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Help with BR expenditure!
Hi I have been on IVA since the 1 of January but I have informed them this month that I will terminate the IVA and save for BR as a better option. I should have done this from the start but I was told IVA could be a better option. The main reason is a concern for the stability of my job for the future and BR would offer…
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Cleaning up my credit file
Hi all So I was discharged from Bankruptcy on 1st July 2020. Looking at my Experian credit file, all my previous debtors are listed as closed accounts but have listed the current status as 'DEFAULT/ENDED'. In the main, the dates used for Accounts settled is also no later than the date my BKT started so fine with that…
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Car Lease / PCH after bankruptcy
Hi, I have had an Audi Q2 on Personal Contract Hire for over a year now, it’s not a purchase, just a hire and simply hand the car back at the end of the contract. I was declared bankrupt in November last month. VWFS/Audi have posted me a Section 87 default today saying due to going bankrupt I have breached the agreement,…
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Unexpected Windfall
Hi all, Happy New Year. Have just received a cheque from a pension which paid out in January 2020. They said a mistake was made and i am owed this money, it is for £846.64. there has been £149.20 tax deducted. I went bankrupt in August 2020, do i have to declare this to the OR.
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Going to go Bankrupt advice please
Hi I have a house with my ex and he left the home and I have a child and I can’t afford the house anymore . He has left me with debt too. So I have put house up for sale but not sold . I’m drowning in arrears with payments on mortgage. So I have no choice but to go bankrupt. I’ve had advise and this is what I have been…
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Post bankruptcy cleanup story in progress
Decided to check my credit reports a month after the discharge... Surprise surprise (not really), no one had bothered to amend the data. Wrong default dates and accounts still showing as open/default. Barclaycard CC, MBNA CC, Nationwide Loan Raised a dispute on the experian and transunion in result only MBNA had some sense…
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IPA Advice
I'm currently in the process of considering declaring myself bankrupt. I expect to get an IPA as once bankrupt I will have maybe a couple of hundred pound disposable income. My question is, if I decide to move in with my baby's Dad in the next few months, and my benefit claim then becomes a joint claim with him, will all…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
7.2K discussions
41.4K comments
Most recent: Irresponsible lending claim after DRO by ManyWays
23 April at 11:54AM
