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Bankruptcy & living with it

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

Need advice on going bankrupt with a business
A company I owe money to is trying to make me bankrupt. The debt is large and is 5 years old. I have no means of paying the debt at the moment and probably won't for a while. I can pay say £500 a month. But they would not accept that as the interest is eye watering and compounds daily! I am however self-employed and have…
Bankruptcy notice wrongly added to Title Deeds
My son is buying a new house but the solicitor has found a Bankruptcy notice on his Title Deeds dated 2016 which is nothing to do with him. He called the court where it was issued and explained whats happened and they asked him security questions. Name, ref Number date of court hearing, which was fine, then address which…
Help needed
In 2022 I was made involuntary bankrupt. The whole thing been a nightmare as when the ruling was made I was sectioned under the Mental Health Act, couldn't attend the hearing and then had appeal blocked. To add to it I knew all along I was owed more than what the creditors would be but hadn't got the funds in due to…
Ask a StepChange (formerly CCCS) counsellor a bankruptcy question
StepChange Debt Charity (formerly CCCS) has several counsellors answering questions in our forum. There are three ways to contact them: 1 - To ask them a question please post it below and Allen, Linsi, Kirsty, Rachael, Joe or Patience will post a reply here. 2 - If you would prefer to ask a question in private you can send…
Bankruptcy approved - what next
I applied for my bankruptcy Thursday evening and got approved today. It happened much quicker than I thought it would and havnt had to provide any pay slips or bank statements etc Will I still need to provide these and will I still have an interview with the OR? There's no mention of an IPA, I don't think I would by my…
Bankrupcy Advise - Re House / Mortgage
Hi All A friend has built up a large amount of debt (tens of thousands) over the past couple of years without telling his partner. He has since told his partner of the debt and is thinking of going bankrupt but how does that affect their joint mortgage? Thanks
Opening a basic bank account but with no credit file?
Hello, I'm an undischarged bankrupt and looking to open a basic bank account. I'm of somewhat elderly years and have ZERO credit history: I've had no credit cards, personal loans, energy bills which have been in my name, phone contracts, TV subscriptions, etc, etc. So nothing on any credit file about me. I've been using a…
Bankruptcy and allowable expenditure
Hi all, hope someone can share some advice with me regarding "allowable expenses", I've been doing some research myself but been unable to find. This would be personal debt related.As far as I understand there is a spreadsheet showing what is considered to be an allowable expense and I must fill this in but my problem is…
Bankruptcy 30 years ago
Just by chance I checked the London Gazette and friends bankruptcy still listed there. AND a new notice for people to claim dividends complete a form and apply to the receiver. Why would this happen now? And a court number.
DRO - Budget changes
DRO's soon to be free (no fees), upto £50,000 total debt and a car ignore value of £4000 Welcome news to many i suspect "In this week’s Spring Budget, it was announced that the government is removing the £90 administration fee for Debt Relief Orders (DROs) from 6 April 2024, and raising the maximum debt value threshold…
Paid off mortgage ( post bankruptcy) and money in suspense account
Firstly, I would like to thank anyone in advance who reads and advises on this post, and to say to anyone struggling that although I was devastated when made bankrupt, everything passes and things do get better. To my dilemma and some background for context. My O/H and I were made bankrupt after a business issue where the…
Ending IVA
Hello, I have been on the phone to citizens advice this morning who feel that I was miss sold my IVA in October 2023. I am no longer able to meet the payments they require and will be terminating my IVA to go ahead with Bankruptcy. If I was to contact my IVA supervisor to terminate would they still want payment at the end…
Creditfix iva
Hey guys, I won’t lie I’m stressed to death. I agreed to an IVA with Creditfix then I realised it’s not for me and I’m looking to stop the process, there hasn’t been a creditors agreement yet until the 4th of March, I rang today a few times to see if I could get in contact with someone to cancel this and they have kept…
How does joint income expenses and ipa work?
Just trying to get my head round things for impending bankruptcy. Me and my partner have just had to give up our business due to becoming unviable re energy costs. We lived above so also have had to move to temporary accommodation. One of our creditors has petitioned for bankruptcy which we won't be challenging. Obviously…
Shared ownership mortgage in my name only
Hi, looking for advice on if my husband was to go bankrupt. I have a mortgage on our home which is a shared ownership property where I own 25%? the Housing Association owns the other 75% which we pay rent on. My husband is on the tenancy but the house was purchased by myself before we met. If he were to go bankrupt would…
Debt Relief Order and Credit File
My Debt Relief Order was agreed March 2018 and discharged March 2019. Should the default stop showing on my credit file March this year or March 2025? Thank you
Tax credits overpayment
Hi , I’ve just received a letter saying I owe overpayment on tax credits I don’t receive tax credits anymore. Would I be allowed to pay some each month does anyone know ? Can’t afford it in one go
Who can go bankrupt and what happens about renting and bank accounts?
Please could anyone with experience advise me on behalf of a relative. R has around 80K in debt after years of prolific spending. She took out a IVA via a private company a couple of years ago, but somehow has continued racking up her debts. We're wondering if she would be allowed to go bankrupt, if she applied, and how…
Iva remortgaging
Hi hopefully I can get some advice . We r in our last year of an iva . In September we applied for a remortgage as we had a lot of equity on our house and was turned down . This was done back in September so we thought we had moved on but now are IP says we have to go to mortgage broker this is very frustrating as we…
Can my Mum buy me a car DRO
So my car has died, entered a DRO in Dec 2023. My Mum has very kindly offered to buy me a car as a gift because I've just got a new job caring in the community and I need a reliable car.. Can she buy me a used one or is that not allowed?

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