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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…
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Considering bankruptcy
hi, this whole Coronavirus impact has made me lift my head from the sand and realise I can’t carry on like this my debt just doesn’t seem sustainable, I’m a single mum, 2 children. I work part time and owe 30k in loans, cc & catalogues. I was depressed after my divorce and I think I just got in this mess trying to carry on…
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From an IVA?
Hi. I just need a little advice. I know it could be completely the wrong time to be thinking about this too. OK a couple of years ago I got into bad debt through payday loan cycle and gambling (which I got under control now) so took out an IVA. I pay £152 a month and they say I have at least 2 years of monthly payments…
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Council Tax liability order
Good afternoon I went BR in Feb 2020 and subsequently my attachment of Earnings for CT was stopped for the remainder of the financial year. I received a letter from the district council saying they have submitted a claim to the OR for outstanding council tax for 1 April 2018 - 31 March 2019 and 01 April 2019 - 31 March…
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Bailiffs
This is my first post so apologies if I'm in the wrong area. My son who is 27 has built up a lot of fines through the court for unpaid travelling without ticket fines. He didn't stick to the payment plan made by the court so a bailiff was sent to my home where my son lives. The bailiff was 'invited in' by my unsuspecting…
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tax return in bankruptcy
hi does anyone know if you still have to complete a tax return when bankrupt. i have until 31 october to complete my tax return but obviously no money to pay my accountant to do it. if it does have to be done would the or release some of my money to pay the accountant? by the way i was made bankrupt in august.
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
7.2K discussions
41.6K comments
Most recent: Should I get an IVA? by Bunnyburrows1968
30 July at 9:31PM
