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Bankrupty and job terminiation
Hi Guys, I'm looking at going bankrupt as this whole Corona Crisis has shown me, how I will never be able to pay off my debts. I owe £30,000, have no assets, 2 children, single parent and work as an insurance advisor. I have stripped back all of my non-essentials and changed suppliers where I can and my monthly outgoings…
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Letter to bank from OR
hi, I have just received an email with copies of letters to the bank re my accounts advising that the OR has no interest in them. At the bottom of the account it states that the bank should advise the OR if i hold any other accounts with them. I opened a Barclays account to prepare for bankruptcy but the account wasn’t…
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Hassle from debt collection
Hi, I am currently saving up the BR fee and hope to have it by June 22. However, I have a debt collection agency hassling me in the meantime. What can I do to stop them? Seems daft to pay them anything as I need to save the fee?
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Coronavirus
Hi everyone I'm currently paying an IPA, with the threat of school/education closures my wife is likely to be unpaid for that period as works in a private nursery, this would likely cripple us, is there likely to be something in place from insolvency service, for example relief for a month but for the month to be added on…
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Considering bankruptcy but could use some info before I proceed.
Hello, I am considering bankruptcy and have a few concerns that I need to clear up. 1: I owe £3500 for a car finance, my debt left is £2500 this would be secured debt, my brother has offered to pay the debt off and take the car as his own, would this be legal? 2: I have one item worth new £1,189.00 and have £599.00 left to…
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IPA
I’m just wondering what’s the most the official receiver could take from your wages ? I currently earn 2,500 pound after tax and I owe roughly 25k , what would my IPA be ?
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I’m bankrupt
so at 10:34 today I had my confirmation that my bankruptcy was approved. I feel relieved as now I can afford food but scared of telling the creditors. Very have been very persistent considering I missed a payment for the first time 7 days ago. 5 emails and two phone calls. The last one just now and I don’t know why I…
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Expenses when paying an IPA
Hi, Just wondering if like my TV or laptop breaks, can I get one out of my ipa?
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IPA Advice
Hi All Still looking for a clear answer, preferrably from someone that has recently gone BR and entered into an IPA. I have been told that mine will be £140 a month, and that a solicitor will be looking after this and will want payslips each month. Is this definitely the case? or do they just leave it to trust that you…
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Ring value?
I was filling a bit more of the form out for BR yesterday and it asked for any valuable jewellry to be listed, I have a ring that was 1900 new but I've been wearing it for nearly a year, where can I take it to be valued? Will a second hand jewellers do it? Or is that not seen as accurate enough? Thanks in advance
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Bankruptcy
Hi everyone, I'm an ex Royal Engineer with 15years service I left in 2017. Due to current circumstances as i have lost my job. I have about 27000 of debt built up through divorce and just living beyond my means for years.(my fault I know).I was managing to stay afloat with the debt just whilst I was in employment but now…
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Bankruptcy and PPI
Where my failings on credit cards formed a major part of my historical bankruptcy- and whicjh would have been evident from the list of defaults provided -whilst i understand and accept any PPI refund goes to the OR and not me-does anyone know if the OR automatically (and has the authority to do so ) a) will have made PPI…
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3 Months to go
I now have 3 months to go until discharge and have had very little contact from the recievers, I was half expecting a Bro/Bru as i was made bankrupt by HMRC, I had one letter in January requesting IPA And income tax ipa but didnt sign due to change of circumstances and have heard nothing since, Just wondering if I am…
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Need some advice about being discharge from bankruptcy.
Since being
discharged from bankruptcy on 04 July 2019, I have some questions that I would like clarified
as I don’t want to break any sort of restrictions if any still apply. Please
see the following: · What does being discharged mean for me and do the same restrictions
apply that were in place for the bankruptcy period?…
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Bankruptcy due to impact of Coronavirus
If you have petitioned for bankruptcy as a direct result of Coronavirus is it fair to say that you are in this position through no fault of your own? (Debts would have continued to be paid off using income had it not been for Coronavirus halting income) Therefore, who would should be contacted regarding reviewing credit…
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HMRC
I was declared BR last week. As well as being employed full time i had a little business going. 30th March was the end of my first year trading. I have approx £3k profit although havent done accounts yet. Is the tax for year 2019-20 payable and what about the profit? ive spent the money so can they expect me to repay it…
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BR experience
I wanted to come on here to share a few things from my own personal bankruptcy journey, in the hope it will help many others out there now and for years to come as this forum did to help me. I went bankrupt in March of this year and now 2 months on, hand on my heart I can truly say it was the best thing I could ever have…
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IPA PAYMENTS
ME Again , sorry for all the questions. Ive had my interview, all went well. Pretty standard, allowed to keep my car, tweaked my budget with her on the phone and agreed a £160 per month IPA. I discussed doing Overtime as there's usually a lot on offer if we want it, and her response was that id be doing it for nothing as…
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Should I consider bankruptcy now or wait
Hi, I have bought business about 8 months ago using business bank loan, which was personally guaranteed by me. My plan was to work in the acquired business in parallel with another job that I was still doing. When I was deciding about this venture, my second job was sort of a backup plan. I thought that even if the new…
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Bank credits when acc frozen
hi, sorry about all my last minute questions. I’m pressing the button on Monday and thought I had a basic account with Barclays but no, a standard acc was set up. Not all bad as at least my income was protected as I moved everything there away from Natwest. Anyway I have been unable to change it to a basic over the phone…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
