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Collection Letters 18 years after BR!
Hi all, I hope this is the right place for this! I became bankrupt in 2007 and was discharged in 2008. Since then I have managed to rebuild my credit file, obtain a mortgage and remain debt free. A few weeks ago I received a letter from a company called Opos who were contacting me on behalf of Capquest to collect an…
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IVA
Hi I’m currently on a debt management payment plan with step changes, it’s going to take over 11 years for me to pay back 16000. I’m not sure whether to apply for an IVA instead. Is this a bad idea?
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HMRC WARNING OF BANKRUPTCY
In November I received a letter warning of bankruptcy from HMRC. I owe then approx £193k in taxes, vat, fines etc. I was a soletrader for 10 years. For the last 2 years since I stopped being self employed I've paid them £500 a month. They have told me to stop paying, it's barely covering the fees & interest they said. I…
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HMRC - massive debt
My husband has been mentally unwell for some time and has a delusion that he has paid all tax (he is self employed as a copy writer). I finally got access to his account and he has a £60000 debt. I have spoken to hmrc on his behalf and they have agreed to take off the late penalties which add up to £5000 but we still have…
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BR and joint accounts
I am now 5 years post bankruptcy, January 2026 will be my 6 years up point. I went bankrupt a few months before I met my now spouse. We are getting to the point that we really need a joint account as handling the bills is getting messy with transfers here, there and everywhere. Spouse had some debt prior to us meeting and…
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General IVA/Bankruptcy Queries/Worries...
I'm considering bankruptcy due to not being able to find the £ needed for my first income tax payment since I entered an IVA in 2022 due to endless ongoing issues with HMRC. If I don't make myself bankrupt, it's inevitable they will do so soon, I think... Hours of researching and poring online have led me to lots of…
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Debt relief
Asking for a friend . I've been sat with my friend today , trying to help him out, I'm here asking for advice. He recently got made redundant , after 5 months in his new job , now he is on a zero hour contract . His debts are around £14k , bank loan and credit card. He's not registered to any house as he's a ft van lifer ,…
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Money back after discharge of Bankruptcy
Does anyone know if its normal to get money back after being discharged from a Bankruptcy. My elderly mother was conned out of her life savings and ran up large credit card debts while the man who stole her money kept telling her he would pay her back. She declared herself bankrupt when i found out what was going on. This…
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IPA question
Hi, I’ve just been declared bankrupt and the IPA team have reviewed my income/ expenditure and I’ve been told I have to make only pay my tax from now until the end of the tax year. my question is, if my wages stay the same from now until after the 12 months of bankruptcy is over, will I still be eligible to make payments…
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Bankruptcy help
Hi I have a friend who has found himself in a bit of a pickle and am after some advice to help him He has a shop which provides a service to customers, he is also a sole trader this is what he currently owes Personal loans and credit cards £26,686.00 Business loans and credit cards £58,601.58 Business overdraft £19,998.84…
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Moved: Dad living in debt due to inheritance fraud and heart failure diagnosis
This discussion has been moved.
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Not heard from Official Receiver
I sent my bankruptcy application in last week (3rd December) and received an email to say it had been approved with the bankruptcy order on 5th. Since then I have received an email with an attached letter to say the OR is not interested in my car and that I can keep it. I then received a phone call from the Insolvency…
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Rebuilding Credit Post Bankruptcy
Thought it might be a good idea to start a thread about who can help us rebuild our credit files post bankruptcy. Of course I'm sure once we've dealt with our debts we'd like to bring our financial standing back to prosperity so that in future we can benefit from good mortgage, loan, credit card and other such deals when…
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IVA and RX1 form
Dear all I need some advice My husband took out an IVA nearly 2 years ago with a known company he is self employed and debts added up to £40,000. The company are asking us to sign an RX1 agreement stating that we will enter into an agreement and put our house against the debt. I am being asked to sign even though the debt…
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Ltd company insurance post-bankruptcy
Hi all I’m wondering about chances of getting basic insurance for new business (ltd company) having recently been discharged from bankruptcy. The situation which lead to this was a right mess. Was director of a company which went into liquidation with very substantial debts. Personal guarantees were called hence…
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Moved: Help! Step change cancelled my dmp with no missed payments.
This discussion has been moved.
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Bankruptcy, Student Bursary & IPA
Hello, Both myself and my husband are about to file for personal bankruptcy after losing our business last year and incurring debt from personal guarantees. We are currently receiving approx £1500/month in Universal Credit as well as £170/month Child Benefit. My husband is not working at the moment due to having back…
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Contents Insurance
Hi all, I’m posting on behalf of one of my neighbours. She is about to move and has asked me to post here as she is somewhat unconfident with computers, internet etc… She was made bankrupt in May 2014 and discharged a year later. Has been financially responsible ever since, with no loans, cards or such like. Having worked…
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IVA due to fail and homeowner
I’m hoping someone can advise or offer some reassurance. I’m awaiting a call back from citizens advice but that could take up to a week. A bit of background first.. i entered an IVA almost a year ago. I was self employed running a cafe. Opened 10 days before the first covid lockdown and tried for a few years but ran up…
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IVA has been terminated with debts outstanding... Help please!
Hello I entered an IVA in January 2022 with debts and a CCJ of around 26k. This was with The IVA Advisor, who have since gone into administration. It was passed to Anchorage Chambers. I struggled to make payments and after doing a lot of reading, I don't think I should have had an IVA anyway. Anyway, it has been terminated…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
