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Bankruptcy & living with it

To help people who are bankrupt rehabilitate their finances, without judgment.

Solo IVA But a Joint Morgage
Hi Everyone, My wife is coming up to her final year with a solo IVA and they now want us to Refinance or re mortgage our house, but i am not part of the iva and i refused when she took it out, can i refuse to Refinance or re mortgage as it would for sure be a higher interest rate etc as our credit is now poor, Also i think…
One Year Later
Hello everyone! It’s been exactly one year since I was declared bankrupt. It’s hard to believe that it’s been a year since I made out the application and had that terrifying phone call - who knew what kind of year was still to come. Over the course of the year, I have spoken to the examiner once or twice and that was me…
Compensation for defaults not removed after bankruptcy
Good morning I was wondering if anyone had any advice please.. I had to declare myself bankrupt in 2013 due to my ex husbands gambling addiction. I still have 2 defaults on my credit file both for mortgages at the time were wiped out in my bankruptcy, 1 with the TSB and 1 with the Birmingham Midshire I’m finding it really…
How do I declare bankruptcy when I have an IVA?
Hi, I am asking how do I declare bankruptcy when I have an IVA? Thanks
Bankruptcy & IPA Advice Please.
Hi, I have a temp job that is only for the next few weeks. I am going bankrupt next week and trying to sort out details for the IPA. I have been offered overtime now and need to earn the money and but have been saying no because of the interview to come and it affecting me for maybe the next 3 years. Advice please? Also I…
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
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…
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?
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…
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…
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…
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…
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…
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…
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,…
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…
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…
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…
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…
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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MSE News

Martin Lewis: Just got a win on hopefully changing hideous council tax debt collection that hurts millions
"Catastrophic" Council Tax debt collection practices – that can see bailiffs at your door within six weeks demanding payment for the whole year despite missing just one month – are to be investigated by the Government. It's a win for MoneySavingExpert.com founder Martin Lewis and his charity the Money and Mental Health Policy Institute (MMHPI) who've campaigned against this rapid escalation.
Martin Lewis: Mobile and broadband mid-contract inflation hikes are BANNED – but there are winners and losers
Inflation-linked broadband, mobile and TV price hikes have been banned. It means some will see bills rise by a specified amount in pounds and pence going forward. However, MoneySavingExpert.com founder Martin Lewis has warned that many WILL still see above-inflation rises in future despite the new rules.
'Catastrophic' Council Tax debt collection practices to be investigated by Government – Martin Lewis says move is 'brilliant news'
"Catastrophic" Council Tax debt collection practices – that can see bailiffs at your door within six weeks demanding payment for the whole year despite missing just one month – are to be investigated by the Government. It's a win for MoneySavingExpert.com founder Martin Lewis and his charity the Money and Mental Health Policy Institute (MMHPI) who've campaigned against this rapid escalation.
MoneySaver's 'unbelievable' £675 refund from Complete Savings – how to check if you can claim too
MoneySaver Ray secured a £675 refund from Complete Savings after reading our warning about the 'cashback with a catch' site's misleading 'click to claim' ads. And Ray's not the only one, as we've been swamped with similar successes.
Origin broadband customer? You'll soon be moved to Utility Warehouse – here's what you need to know
If you're an Origin broadband and home phone customer, you'll soon be automatically transferred to Utility Warehouse – but your service will continue as before and you should keep paying your bills as normal.
Bank of England cuts base rate to 4.25% – here's what it means for your mortgage and savings
The base rate has been cut to 4.25% from 4.5% by the Bank of England. This rate is used by the central bank to charge other banks and lenders when they borrow money, so the move can impact mortgage and savings rates.
Is now a good time to fix your mortgage or should you wait? Brokers answer as rates continue to fall ahead of expected Base Rate cut
Interest rates on fixed mortgage deals have continued to be cut ahead of this week's decision by the Bank of England on whether to change the Base Rate. But will fixed rates move much further – and should you fix now or wait?
Fixed-rate mortgages continue to fall ahead of expected Base Rate cut – so do brokers think now is a good time to fix?
Interest rates on fixed mortgage deals have continued to be cut ahead of this week's decision by the Bank of England on whether to change the Base Rate. But will fixed rates move much further?
Martin Lewis: How to call your bank by dialling just three numbers
How to call your bank by dialling just three numbers… simply dial 1-5-9. Then you know it's legit. Watch MoneySavingExpert.com founder Martin Lewis' video below, which explains it. And please share – the more people know, the fewer will be scammed.

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Bankruptcy & living with it

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