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Advice needed.. IVA or Bankruptcy?
Any advice muchly appreciated.. I'm currently 40k in debt, 18k on credit cards 22k on loans.. I'm making the minimum payment each month on the cards and up-to-date with my loan repayments, I'm barely getting by each month, paying roughly £1000 a month but not bring my credit card debt down. Ive had the card debts for…
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Bankruptcy and Shares
Hi, Can anybody offer any clarification? I'm thinking of filling for bankruptcy or an IVA.. Now, I have been paying into a buy as you earn shares scheme at work.. I have been paying £100 monthly for the last 30 odd months and won't physically own the shares until September. I have no access to the money or shares.. What…
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Documents
Do I need to send the OR any documents before my telephone interview? I just want to be as prepared as possible. Also what sort of questions are they likely to ask? My case is quite simple and debts have just built up over a number of years, emergency repair work on house before we sold it, working less hours t due to…
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Foreign Property Default
Hi Not sure if this is the correct forum but giving it a go here. I have a property in Bulgaria secured on a mortgage issued by a Greek Bank. The property is a drain as is the mortgage and I want to walk away. However I cant find any information as to what the consequences will be? I am married and have a UK mortgage, can…
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Disclosure to landlord of current living situation
We are currently in a mortgaged property in negative equity and also in an IVA. Circumstances have resulted in us needing to fail the IVA, possibly go bankrupt and leave our current property. As we are choosing to hand the keys back to the mortgage company, we are not selling the house. We are trying to get rented…
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Timescale
So just in process of applying for BR online, can someone please advise me what happens from here and timescales etc as a bit unsure. I think my SOA will mean no IPA for me as I do not earn enough being part time. Thank you in advance
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I'm in real need of bailiff advice
Il try and keep it as short as possible. I moved out of my old rented house 2 years ago and my landlord had someone else lined straight up. They have recently moved out so my old house is empty. On friday of last week my old landlord phoned me iv not heard off him in 2 years so I thought it to be strange. He said hed like…
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Going bankrupt with benefit fraud debt
Hi, I’m new here and is desperate need of help. 7 years ago I left my abusive ex husband. Throughout our marriage and relationship I claimed as a single parent. This was due to me having zero financial help from ex and him taking whatever I was getting. I was in an awful position, my mum had just died (I was 19) and I was…
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Mortgage 2 years since discharge? (3 years since BR)
Hi everyone, I was made BR on 31st December 2016. Me and my partner are now looking at buying a house and are going through a mortgage broker who thinks he may have a lender who will consider us with a 20% deposit. Just wondered if anyone else had been successful with a mortgage application only 2 years after being…
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Bankruptcy Vs IVA
Hi there, am confused as to what my best option. I've given a brief overview of my situation below and hoping people can advise. Approx £25k of debt. £12k of this is ex business debt transferred to me under a personal guarantee taken out at the time £13k of personal credit cards. I am effectively unemployed at the moment,…
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Its all gone wrong
Hello! Im new here and sadly have to start off in this section, but hey ho :( A background on myself. I currently run a struggling online retail business, which started in 2010. Since Sept/Oct everything that could go wrong seems to have, from a huge robbery in Oct to major system issues in Nov and poor Christmas sales due…
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Issue with appointed Trustee
I became bankrupt in October. The Insolvency Service have appointed a Trustee which I need to appeal against as he was involved and paid for previously by my company which went in to administration. It appears there is conflict of interest. Is there an official body I can write to as this Trustee is causing me undue…
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Appeal IPA
Hi, I have been bankrupt now for 5 months and today recieved a letter stating that from next month i will have to pay in £96 a month to an ipa agreement for 36 months, when i submitted my soa back in august it had quite a large deficit in it, is there away to find out what they have not accepted and why the payment is so…
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SOA Help Needed
I am about to file and need any support possible with my SOA which I have partly completed below so far. Background is that myself and husband have separated but he is still living with me and our children as we can't afford to live separately at the moment and also wants to be close to children for the short term. We pay…
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Student finance and bankruptcy
I have a few questions about bankruptcy. How will i know how much i will need to pay over the three years? when i filled the forms it it didnt say an amount to pay. Also i receive a student loan, will this be classed as income at all?
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Home Insurance
I was made bankrupt at the beginning of October this year. Just trying to renew our buildings and contents insurance but when applying with ASDA home insurace my wife was specificly asked if either of us had been declared bankrupt. When she told them that i was bankrupt they said they couldn't offer us cover. What's that…
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Being chased for debt from 29 years ago
Hi, can someone help please? I received a letter from a tracing company just before Christmas and when I rang them, it was for a debt collection company. They couldn't give me any other info apart from the contact details to get in touch with the debt collection company. I rang them straight away and they are chasing me…
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Pre bankruptcy joint account questions
On Tuesday Barclays Bank removed my name from the joint account I have with my abusive ex who was refusing to sign to remove her name. It used to be my sole account years before we met. Barclays said this was the best solution. On the bankruptcy application I obviously have to put in the details of the account as I had it…
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Soa
Hi All, will be starting the BR proceedings in the next month or so, this is an SOA based on mine and my wifes income, Monthly Income (after tax) 1853 Partner's Monthly Income 1100 Benefits 0 Other Income (e.g. maintenance payments) 0 Enter your monthly expenditure Amount (£) Mortgage payment (from secured debt table…
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6 Years On...
Morning All My BR was 10/12/2013, so last Tuesday was my 6 year anniversary. Last weekend I was notified by Equifax that there'd been a major change on my credit file. In a panic I logged in, but found that my BR record had been removed from my file a few days early!! :j Today all my BR creditors' files have dropped off my…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
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Most recent: Hoping to apply for a DRO by Thymeforchange
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