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DRO or DMP??
Right me again... I'm actually now unsure whether I should do a DRO. I've got a total of 5k in debt. It will take me around 5 years to clear at what I can afford on a dmp. Now would this be better than a DRO?? I guess that credit falls off 6 years after default. So wouldn't this be sooner than a DRO if I have already…
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IPA & Tax Code. What it means for me
Hello everyone I have a question about my tax code and paying an IVA. I currently earn around £360 per month working part time - when I filled out my I & E form, it was evident that I would be around minus £430 just to live so the OR told me that I wouldn’t need to let her know if I did overtime unless it was over £430…
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Debts
I am going to petition for bankruptcy soon due to spiralling debts but I can't work out how much I owe as most of my debts have been sent to collection agency so not sure how to find out, do I have to phone them, which I'm not too keen to do I've checked my credit report and they no longer appear on there. Any help welcome
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Bankrupt and Repo - Can we get a mortgage?
Hi, My husband had a repossession over 10 years ago and bankruptcy 7 years now. He now has an excellent credit score with no debts. I am slowly building up my credit score and am currently fair. He earns £45k a year and I earn £33k but have £15,000 loan. I did stupidly take out a payday loan a year ago. Would we be able to…
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CCJ 3 Years after Bankruptcy
Hello, I really need some help please as I'm a bit stuck and not sure where to turn to. I filed for bankruptcy back in December 2016 and was discharged in December 2017, 12 months later. Last week I checked my credit file and noticed a new CCJ was issued on the 31st July 2019 by the County Court Business Centre. I promptly…
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My bankruptcy is still haunting me
Hi everyone, Would be incredibly grateful for your advice regarding a really tricky situation that I am in and one in which I feel I might and should have a case against. Unfortunately, I went through a difficult time many years ago, and was previously declared bankrupt (for ~£15,000) back in April 2009. I still have…
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Discharged Bankruptcy and SC Vetting Clearance
I know this has been asked several times before, but I can't seem to find a definitive answer, maybe there isn't one! I have an interview next week and if successful the post requires SC vetting clearance. I was declared bankrupt in April 2018 and discharged April 2019, so only 9 months ago. Just wondering if i am wasting…
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Equity in Property post bankruptcy
If I had about 3k equity in my property, would I be forced to sell to realise this amount? What costs does the OR take into account before deciding on how much equity there really is? Do they take selling costs etc into account?
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Buying house equity from Mazars
Hi All Have been a keen lurker for a couple of years and have gained a huge amount of knowledge from the board before and during my bankruptcy. I am discharged next month and everything has been pretty smooth. The only outstanding thing I need to sort is the equity in my house. I jointly own the house with my wife and it…
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Newly bankrupt - quick question
Hi all, Hope you are doing well. I had a quick question. I received a letter from HMRC this morning and don’t know what to make of it. The situation I was declared bankrupt on the 14th of December 2019. I had left my employment on the 30th of November 2019 and received my last pay on the 12th of December which covered me…
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Before I press the Button..check list?
Hi all I have just a few more important questions to ask before I press 'GO' and wonder if there is a final 'check list' to go through just to see if I have missed something? The following questions are the ones that concern me the most and if anyone has any advise I would be VERY grateful. I"m just fearful of sending off…
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How far back will OR go?
I want to prep for my interview with the OR as want to be able to answer any questions they may have. Can anyone tell me how far back they might go and also what sort of questions they are likely to ask?
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Filling out BR form - Help!
Hi everyone I've just started my online BR application and have already got stuck :( I have three children, 21, 18 & 13. Both my eldest children are at University but are at home for 4 months per academic year and during this time are financial dependent on me alone. During term time they both live off their maintenance…
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Where to start? Help with SOA/BR
Hi there I am new here and would love some support/advice around how to go about dealing (finally!) with my debt. Very briefly, my debt has accumulated since my divorce and has been the result of having to 'top up' my outgoings every month for the last 12 years. I work full time and have raised 3 children, 1 of which is…
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Informing Landlord
Hi can anyone tell me if my landlord will be informed even if I have never missed a rent payment?
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Newly bankrupt - advice please
Hello everyone! These forums have been great for me to search through whilst thinking about and ultimately deciding to declare bankruptcy so thank you to those that have contributed because your posts have meant so much, even from afar. Having been browsing but not signed up, I found myself with some questions and also…
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Feeling overwhelmed with BR process
I'm not new to this forum, I've actually been around for 10 years or so, but have created a new account as, quite frankly, I'm so embarrassed by the situation myself and my husband find ourselves in and there are posters here who know us IRL. Following advice from CAB and national debt helpline we have come to the…
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new debt default whilst bankrupt
hi I am currently BR and end on march 2020. today I received a call from cap quest saying they had bough 2 debts from Halifax dating back to 1999. one for a credit card for £4k which after saying I was BR the. said it would get closed as statute barred, but the other one for a current account is for £389 and they said it…
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Going bankrupt as a landlord
Hi, After a very messy marriage breakup I have been left with no other option but to declare bankruptcy. My question is though - I live and rent in the South of England but I actually still own a house in the North. The house is worth around £80000 but has no equity and the tenant is actually a friend of mine. My main…
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is it usual to get a request to complete another income and expenditure form during bankruptcy
Hi I went bankrupt a few months ago and completed the forms detailing income and expenditure as part of the application process. I went through these details with the OR during the telephone interview. He told me that it would take 12 weeks to produce the report for creditors and he would contact me if there were any…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
7.2K discussions
41.6K comments
Most recent: Hoping to apply for a DRO by Thymeforchange
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