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Will HMRC bankrupt me?
Following a failed spell at self employment (now in PAYE work) I have a tax demand for 10k I haven't got.I have a 12 year old car that I need to get to work (no other significant assets to sell), an overdraft, credit card debts and disposable income of £130/month.What are my options? I don't want to be bankrupt.
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Expenditure
Hi could someone please help, I’m currently filling in bankruptcy form and could someone tell me if their is a guideline they have for different things shopping/toiletries/cigarettes etc many help would be appreciated
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IPO advice
Hi everyone, I went bankrupt in May 2019, now on the home stretch. I wasn’t given an IPO (is that the right acronym?!) due to being on UC and having a small income from being self employed, we’re taking approx £200 p/m. I’m now looking for a change and would like to get a regular job again. If for example I returned to…
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Debt sold after bankruptcy
Hello, please can any one help me with this query. I was declared bankrupt in January 2017. A debt was sold in July 2017. Credit file shows new company owning this debt but have marked it as a payment made April 2017 and then defaulted May 2017. I pointed out to them I was bankrupt in January 2017 and therefore didn’t make…
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Restriction on title
Hi my friend is selling his property, there are two restrictions listed on his title. the title is jointly owned one debt interim order 2010 one debt I rerun order 2913 made final charging orders became insolvent 3 days before orders became final. My questions? is this nit valid because he became insolvent before final…
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bankruptcy
I am in the process of getting ready to declare bankruptcy but wondering what to put on the form for who I owe the money to. Most of my debts have been moved on to debt management companies so do I put their name down or the original creditor. Also im not sure who manages a couple of my debts so not sure what to put on the…
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Nearing discharge
Hi Everyone, I'm just under 8 weeks away from discharge. I've had no contact from the OR other than an email 10 months ago asking if I'd ever owned property. I'm wondering if this is usual? I'm aware I may be subject to a BRO/BRU and I'm unsure how long they leave it to contact you again? Many thanks for your help. Tom
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Bank Accounts Post Bankruptcy Discharge
I'm due to be discharged from my Bankruptcy on 15th April and once I've performed the post BR credit file clean up, ensuring my old accounts are all marked as satisfied or partially satisfied with nil balances, I'd like to switch bank if possible. How have others found opening up a bank account post bankruptcy? Success /…
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O2 failing to acknowledge my DRO
I have a fully discharged DRO (debt relief order). It was discharged in October 2019. Going through my credit report I have noticed that O2 still have my account open and defaulting. My contract with O2 ended in 2016. This account was definitely part of my DRO. I have contacted customer services many times and I have been…
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will I lose my bike
Hi, If I go into bankruptcy will I lose my 'push' bike? It cost £420 - £470 about three years ago I think it should get around £200 on eBay [asking price second hand] I use it to visit people some 20-30 miles away - it's an off road bike - so getting another bike would cost at least the same amount [2nd hand] that can work…
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Help! British Gas chasing debt ....confused!!
Hi all, I received a letter last week from British Gas claiming I owe them for outstanding Gas usage from 2014. Here is where I am confused.... Declared bankrupt May 2014, discharged 2015. The debt is from August 2014 to Feb 2015, however, this is for the property which was handed back to the mortgage company as it was…
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Debt Solutions
Hi! This is the discussion thread for the Debt Solutions guide. Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide. Thanks folks :) ,
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IVA or BR?
Hi, can you tell me what would be best in my situation? My job would be ok if i went bankrupt (i could still use my company car - i dont own a car myself - just put personal fuel in) Just I do alot of overtime and would lose all in BR but may keep sum in IVA it luks like Thanks Statement of Affairs & Personal Balance Sheet…
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Please help Scared
I seem to have got myself in a horrible situation and just cannot see a way out without getting myself and my family into even more trouble. Ill try to describe my situation... In 2009 i borrowed 18k (24k repayable) i already had 7k on credit cards. i borrowed the money to buy a business. The business never really took off…
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Letter from Insolvency Examiner.
Hello, In 2018 I bought a car off someone as I needed something for work. Now last week I have received a letter from a Insolvency Examiner saying they know I bought the car asking for the following: 1) make, model, registration. 2) how much I paid and proof. 3) proof I have ownership of the vehicle. I have no problem…
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Household Benefits and IPA
Hi, I have recently had my bankruptcy approved and had my interview with my OR. All went OK, allowed to keep the car and was told that I would hear about an IPA in due course. When submitting the application I naively omitted to offset my “other household income” (made up of children’s DLA £670, child benefit £270 and…
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Does notices of bankruptcy still go in local papers?
Can anyone advise me if bankruptcy notices still go in local papers if it's just a normal simple case with no business links?
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Using credit card to pay BR fee?
Morning everyone, I am struggling to raise the BR fee and am considering using my credit card to pay it but am I right in thinking this would be considered fraud? I have a credit limit of 5K and have used 3K and this company would be obviously part of the BR application. The only money I possess is 1280 in my current…
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Limited company bankruptcy and private pensions
Hey, hoping to get some advice on behalf of a family member. Their spouse runs a limited company which is under threat of going under in a few months due to business debts. He is due to start receiving a private pension in 18 months' time, and is worried that bankruptcy will affect this pension. Does he need to be worried…
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IPA Query
Hi, The OR has sent me out a letter saying I need to pay £X.XX a month for 36 months despite on the phone interview saying I will just need to pay the spare money from not paying council tax until April and then nothing after that. They have told me to sign the letter anyway and they can change the agreement in April when…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
7.3K discussions
41.8K comments
Most recent: Couple of DRO Clarifications Please by sourcrates
1 March at 7:21PM
