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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…
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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,…
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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…
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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
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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…
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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
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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…
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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…
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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…
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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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CVL/inheritance
One of my sons has come to the end of a CVL (creditors vol liq??) and 'seems' to be completely free of his Ltd Coys massive debt.(Sole director). Bar any future credit reference problems, it seems amazing that you can avoid a debt of this size. (Incls HMRC, paye, bounce back loans {no director guarantee!). If it was a…
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Pre-Employment Credit Check - Ex Bankrupt
Hey All, I’ve just been offered my dream job after building up my career following bankruptcy 9 years ago. This is the first time I’ve experienced this but the offer is subject to satisfactory credit history (not financial services industry but a fairly senior management role). My credit report is clean & the bankruptcy…
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Huge debts.. Desperate for help and advise
In 2021 I set up and ran my first business which ended in disaster and has landed me with huge debts. Some of my debts are from my first year trading as a sole trader and I have full liability. I switched and traded as a company in my second year and the company is also being persured for other debts, some of which I have…
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Which company to use for DRO
hello, I’m currently in the process of applying for a DRO. At the moment I’m dealing with Citizens Advice and have been since February. My original case worker has left and I’ve been passed to someone else who has been very delayed in sending out the paperwork. I finally received this last week after waiting 5 weeks for it…
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IPA
I am trying to remember the timeline of what happened in my B I feel like there were some discrepancies on my B form and the IPA - i.e i had put on the B an expenditure but that had changed in my IPA Could anyone tell me how long an IPA last- i recall three years? Does it usually start from the date of declared B. Also is…
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Bankruptcy
Sorry for the rant Why is bankruptcy so complicated, I thought the whole idea of going bankrupt was to finally have peace and be able to move on I cannot understand why there is nothing in place to help you when you have issues with your trustee mine will not communicate or provide me with relevant information my requests…
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Coming up to 6 years, what's next?
After a great financial history, buying houses, doing them up and selling them to climb the ladder, responsible management jobs, but health failing, losing my parents (adding inheritance to good savings), owning my own business, I allowed my boyfriend to take over managing my business because I was really struggling with…
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I+E during first year of bankruptcy
Hi, has anyone had any experience of being asked for an income and expenditure form during their first year of bankruptcy? Is it hit and miss or is it done say 6 months in?. Cheers.
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IVA credit file
Hello looking for some help as I’m going round in circles with Equifax and pay plan. in 2022 I signed up for a Iva it went to court and got it setup I never made one single payment and I cancel the IVA a day after it went to court as I managed to setup re payments with the companies I owed money to which was a lot more…
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DRO and bank frozen help?
I started the process for a DRO last week. They advised me to open a new bank account as my overdraft with Halifax would be listed in the DRO so my current account could possibly be frozen or closed. I applied for a new bank account with First Direct on Friday 19th April, I didnt hear anything back until Tues 23rd, and…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
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