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Bankruptcy & living with it

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

CCJ After 6 years
Hi, I have 3 CCJs on my credit file. Last one was 2021. I am aware that they will fall off my credit file in 6 years. After that can the debt still be enforced? If I say win the lottery ( can only dream!) After the 6 years, Will the creditor be able to make a claim on any money or assets i have? Thanks in advance
Replacement car value in bankruptcy
The replacement vehicle value in bankruptcy has risen from £2,000 to £3,250. The maximum vehicle value in a DRO has risen from £2,000 to £4,000.
Vehicles/Assets question
Son has minimal assets. Rented fully furnished house etc. His pride & joy is his bike, currently worth around £5000 although he paid less for it. He's currently unemployed and when working was a security guard on shifts. Would they maybe be flexible and allow him to keep the bike as his only means of transport to work?…
Declaring bankruptcy - Scotland
Update on this, all sorted now - thanks everybody :)
DRO application, what a shambles!
morning all, sorry for early post, but going out early all day. anyway I spoke to money wellness on Monday saying moving from full-time to part time job next week. about DROs . enquiry, ( cos payplan don't do dros and who said use the CAB) but I choose money wellness who said call them back when that happens.eg I start my…
Holiday payments and bankruptcy
Hi all, I am currently looking at applying for bankruptcy. I was discussing my options with Stepchange this morning and I mentioned to them during conversation that I have paid for a holiday via pre arranged card payments which my dad has now taken over to pay the balance. Stepchange advised the holiday could be cancelled…
IVA vs Bankruptcy - over £1m debt, no longer homeowners
Hi all, I'd really appreciate some help and advice please. Myself and husband are about to enter a lump-sum IVA but want to check if bankruptcy is not a simpler solution for us. As mentioned, we lost our home earlier this year (forced to sell as there was a secured loan due immediately) so we have the sale proceeds of…
IPA end date for restrictions or payments
Good morning, I have an IPA which was signed and agreed on 12 Dec 2001. I paid the monthly payment of £125 each month on time and all was going well until April 2022, when my car broke down. After a discussion with the ORs assistant, a payment holiday was given for 8 months to allow saving up of £1000 for a new car.…
Help needed regarding DMP/DRO
Hi, I have debts of around 9500 and was wondering if it would be better for me to take a DMP or do a DRO? What are the benefits of taking a DMP over a DRO and the other way round please. What sort of evidence do they ask for when doing this regarding your budget. Do they ask to see copies of utility bills, rent agreements,…
HELP CAN the OR do as they please?Re- deed of assignment on possible aquired inheritance property
Hi all, I have posted on different threads as I had different questions and I appreciate the complexities of my case and I am already paying legal fees with my family to get back inherited property back from my brother I really cannot afford to get separate legal advice. My brother raised my B and my solictors had to go to…
Building Credit Post Bankruptcy
Hi all, sorry, this will be long and to be honest I can't decide if this is the best thread for it. I was made Bankrupt in 2012, kept my house because there was no equity. It has taken me the best part of 10 years to recover but we are on the tight path now. Years of late payments to the mortgage (and other things) as we…
Lost all - will start with DRO - if that help ?
Hello everyone, I am looking for help in a difficult life situation I am facing. I lost my job and I have big problems paying off my debts. I do not know what to do. I'm thinking about Dro but I don't know if he qualifies. I haven't had a job for 3 months and I live on a Polish pension of GBP 415 a month!My son helps me,…
Possible aquired property -shared beneficial interest in inheritance property
Hi really need some help. I am a case where me and my family members are suing another family member for taking our share of the family estate. At the time i declared B in 2009 i was not sure if i would have a beneficial interest as my father had just died. Now my solicitor is saying that my OR could have an interest and…
Benefits
Hi , I was made bankrupt in January 2024. I work full time on a low wage, they did a means test and said I did not need to make a contribution. I was told to inform them if my income changed. I have just been awarded PIP , will this affect whether or not I need to make contribution to my bankruptcy? Thanks in advance
Past Bankruptcy errors!
* Hello there, wondering if you can help. This case is referring to a long time ago and is rather complex. I declared B in 2009, I had my own asset which was being rented out but declared it under the B. I was in dispute with my sibling over inheritance (my father had passed away suddenly just before my B and he was…
Property and Bankruptcy
Hi all, I just need this cleared up, for some reason I understood that you must have been living in your property if you want it to be part of your bankruptcy, is this correct? Thanks
Help please I don't know what to do.
Hi All, I really need you help. Since covid as many others we have been struggling financially. Will try to cut long story short if possible. 18 months ago I became disabled and my partner had to quit work to become my carer. I have been able to still work full time which I'm so grateful for. However losing my partners…
MAP (Scotland) bankrupt and internet provider
I am considering going bankrupt (or MAP) which is available to me because I am in Scotland and have no assets. I am happy with this choice because will remove so much stress. However, my worry is that I am with Virgin Media (I don’t have any debt at all with them) but I read somewhere that someone had gone bankrupt and…
IPA and rental income
Hi, A question please, when you declare B and your main residency is declared (no other assets other then possible inherited interest), can you have tenants in that property/are you allowed to let it whilst it is under B administration. Would the OR consider the income as part of the IPA? What if the income still doesnt…
Bankrupted with Financial Control Conundrum
My creditors are my sisters who I took to court because the evidence I have is that they have been Trustees of Trusts and have been dishonest. Despite (amongst so many other things) it turning out that there is another Trust, the judge believed they are really honest people who would not deprive me of my inheritance, at…

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NatWest to complete takeover of Sainsbury's Bank this week – here's what it means for savers and borrowers
Sainsbury's Bank's savings, credit cards and loans will be taken over by NatWest from Thursday 1 May. For most, this means little will change for now as the Sainsbury's Bank brand will remain, though it's expected to be phased out towards the end of this year. However, if you've over £85,000 saved across both banks, it's worth considering moving any excess elsewhere to ensure your cash remains protected.
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NatWest to complete takeover of Sainsbury's Bank this week – here's what it means for savers and borrowers
Sainsbury's Bank's savings, credit cards and loans will be taken over by NatWest from 1 May. For most, this means little change for now as the Sainsbury’s brand will remain, though it's expected to be phased out towards the end of this year. However, if you've over £85,000 saved across both banks, you'll need to move any excess elsewhere to ensure your cash remains protected.
NatWest to complete takeover of Sainsbury's Bank this week – here's what it means for savers and borrowers
From Thursday 1 May, Sainsbury's Bank credit cards, loans and savings accounts will be run by NatWest as part of a deal between the two banks. You'll be moved to NatWest in the future, likely towards the end of this year, but for now the Sainsbury's Bank brand will remain and you can continue to use its products and services as before.
Martin Lewis: Is the £20,000 cash ISA limit about to be killed off? What you need to know
Plans to cut the £20,000 cash ISA limit later this year are being considered by the Government. In his latest video, MoneySavingExpert.com founder Martin Lewis explains what's likely to happen, what the changes would mean for savers and what you should be doing now.

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Bankruptcy & living with it

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