-
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…
-
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,…
-
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…
-
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…
-
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…
-
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…
-
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!…
-
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…
-
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…
-
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…
-
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…
-
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…
-
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…
-
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.
-
Surplus of Funds question
Hi everyone, I`ve received a letter, apparently from the Insolvency Service, telling me that the Official Receiver has now completed the administration in my bankruptcy which took place back in 2007. They are saying that after payment of the creditors there remains a surplus of funds on the account and that these will be…
-
Car valuation
Could anyone advise the best site for getting an accurate valuation for my car? I have tried a few but there is a huge variation between their valuations and they don't allow for much detail re condition (I have a car that could be valued a little in excess of £1k but damage and faults mean it's worth very little). Thanks
-
IPA (Yearly reviews?)
Good Evening, Currently going through the BR process, all forms filled, Interview concluded mid Feb.. I will have an IPA but was wondering how often these get reviewed? If I was to have a sudden drop/ raise in wages.. (I'm a lorry driver and depending on the job hours) I can't find any details.. once an IPA is set up, is…
-
Pension after Bankruptcy
I’m due to be discharged from bankruptcy on 15th April. Can you tell me if I’d be allowed to take early pension it will be a lump sum and a monthly payment of a pension. It’s a civil service pension and as I’ve now turned 50 I’m allowed to do this. Are there any restrictions on this? Do I have to wait so long after…
-
I've done it... thanks
Evening :) Just thought I'd share that I finally submitted my application on Friday and my bankruptcy was approved yesterday. I have my telephone interview tomorrow, eek :/ Thank you to everyone on here as reading through old posts has helped so much and will no doubt help many others. A question to anyone who has…
-
HMRC contacting work
Hi, I was declared bankrupt on 20th of February. I have just today received a letter from HMRC saying because it is too late I won't be on a NT tax code however they are going to contact my employer to find out the tax I paid from 20th of February to the 5th of April. They will then take this from my pay to give to my…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
7.3K discussions
41.8K comments
Most recent: DRO Approved - Pay rise and Universal Credit (joint) by fatbelly
25 February at 7:26PM
