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Help - Owed a lot of money from someone in the EU
Hi, apologies if I'm posting this in the wrong area. I'm writing on behalf of my boyfriend. He did some design work for a person 10 years ago and she still owes him just over €5000. He was living in Spain at the time and she is in Ireland. He is now in London (as am I). They have had lots of correspondence over the years…
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Need advice
Finally admitting I can no longer service my debts. Feel so worried. Just really looking for peoples thoughts and advice. I currently owe £45k (nothing to show for it but bad money management, living costs, easy access to credit and some stupid gambling debts) I am fully up to date with all payments apart from one. I am a…
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Please help !
I've been struggling financially for a long time - credit cards, overdraft, payday loans ...everything. I've considered bankruptcy several times but never had to guts to sort it out. However, the situation has come to a head with the current economic climate and i feel that i really need to sort everything out as unopened…
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When can I get a new bank account
If I fill all the bankrupcy forms in tomorrow and submit them, can I apply for a new account that day. I was thinking of a Monzo account
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Reasonable expenses during lockdown
I was declared bankrupt at the end of January due to an imminent and large reduction in income beginning in February. In my interview with the official receiver it was decided that because of the inconsistent nature of my income (I’m freelance so monthly totals vary a fair bit) that I’d provide details after 3-6 months as…
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Preferential payment
Evening people how does the official receiver get preferential payments back and how long does it normally take for them to sort it been bankrupt 8 weeks now and heard nothing stay safe
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Advice required
Hi all could be a long one so apologies! Me and my wife (we have a 9 year old son)seperated last March when I found out she had massive gambling debts of over £115k I moved out of the home we own (mortgaged with NatWest and a secured loan with Precise) and rented for 6 months, after literally a month (she didnt even tell…
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Bankruptcy in Northern Ireland
Hi Can someone advise if they ever declared bankruptcy in Northern Ireland and what it means and how it affects you and living? Thanks
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Charging order
Not sure if this is in the right thread but I'm looking for some legal advice. Long story so I'll try to condense it. Before I split from my ex I bought a house cash and put it in his name due to abusive cohesive relationship. After we separated I managed to get charge on it saying not to be sold without me agreeing. It's…
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Selling a home after bankruptcy
My partner and i divorced 8 years ago and i went bankrupt in 2012 as the house we had together was in £100k negative equity. My partner now wants to sell the house and my name is still on the deeds. Do i have to pass my part of the house to the official receiver as the house was part of my bankruptcy? Also am i legally…
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Bankruptcy / IPA Question
To be brief, I'm going bankrupt next month. Most of my debts are credit cards, one loan, and one overdraft. I was self-employed but my income has dried up recently so I have applied for universal credit. From what i've read, i will not be given an IPA because my sole income is benefits...but i was wondering - does this…
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12 years post BR
Hello, 12 years ago today I went to the Royal Courts of Justice to file my bankruptcy. I used to be a frequent poster here in the Bankruptcy and Living with it forum but I don't come in here often now. The current situation we are all in with Corona virus reminded me that I was so thankful for the financial crash of 2008…
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Sequestration (Scotland) rules re keeping car.
Hi I'm hoping someone can help. Made BR and my car is valued at £3250. The rules in Scotland re valuation are different and £3000 is the limit. I was under the understanding having been advised this by debt charity and reading it a lot online that if you can show that the car is necessary and it's value is £3000 or under,…
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Npower advice
I have significant arrears with Npower for gas & electric which I included in my BR application, which was approved this week. I'm wondering what is best to do next... I am on the most basic of tariffs they do as I never switched when we moved in in October (ill health, bereavement... I'm usually better than that) but now…
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Redundancy whilst in sequestration
Hi, wondering if anyone has experience of this and what to expect. I may be made redundant and I have just over a year to go until I complete my sequestration. I know that the trustee of my sequestration will take a good chunk of my redundancy package, I'm just wondering if I will be left with anything that I can put by to…
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No income company director
I am the sole director of my limited company. Trading has ceased altogether due to the coronavirus. Personally I now have no income and am entitled to nothing from the government. I have just recently successfully applied for universal credit. My company is due to pay c. £10k in corporation tax on 1st Jan. It is unlikely…
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A month and in limbo??
Hi, just wondered if anyone else is in a similar situation? I was declared BR on 5/3/2020 today its the 5/4/2020. Two weeks after I submitted my application I had my telephone interview with the OR. I had to resubmit my income expense form as I messed up a few bits but that was OK, it's just to see if I need to pay IPO I…
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Reasonable Expenses
I'm sorry if this is something I could find elsewhere - I tried and failed! Is there a guide to what reasonable expenses would be considered on bankruptcy application? Maybe per adult/child or whatever. I have a feeling some of mine are higher and would be frowned upon so I'd like to be prepared to justify if necessary!…
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Loan deferment to pay bankruptcy fees
I will be submitting my bankruptcy once I get paid and my household direct debits come out at the end of the month. I can pay the fee if I don’t pay the creditors the loan payments this month. They are due out the same time as the bills though. I can defer them though due to the covid help. Would this impact my bankruptcy…
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Company bankruptcy question
Hoping someone can help a friend of mine out... If someone sold something at auction, the purchaser paid for the item but before the seller was paid the auction house declared bankruptcy, what would happen to the money? He’s not had his money for an item they sold for him before lockdown came along, and he’s panicking that…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
7.2K discussions
41.6K comments
Most recent: How's your experience been with a DRO? by elsien
26 August at 8:45PM
