-
Means testing
HelloI applied and was granted bankruptcy in June. Buy to let went wrong and I couldn't cover the costs, or sell (because of the freeholder). I am autistic and tend to put things off and avoid dealing with things anyway. I work full time and live alone in rented accommodation. I was allowed to keep my car. I am going to be…
-
3 month potential DRO delay application
I'm applying for debt solution via Christians against poverty. the DRO is the likely solution. they said they need the most accurate and stable income and benefit details before they proceed with DRO.application. they problem is my old employer is paying me out my final wage, final holiday pay and a nest auto enrollment…
-
Help regarding old bankruptcy, house and ex
I need some advice please. Around 2010 I became bankrupt and at the time I had a joint mortgage. My ex then paid my share to keep the property to in theory I own 0%. I have been trying for a number of years to get my name off the mortgage and now finally it will be going to court. Also the last six months or so the…
-
Paying off old mortgage after repossession..in council house
Hello My parents had a mortgage in the 80's and lost it in the recession. The house was taken back by the bank. My parents got put in a council house and that's how it's been every since and they still pay off this mortgage! My dad didn't declare himself bankrupt and has lived with bad credit ever since. Both parents still…
-
Salary sacrifice while BR
Good morning. i declared BR 2 months ago, OR made a straightforward decision with no interview. I now have an assessment booked with the IPA adviser at the OR. ive been thinking of getting a bicycle through my employers Cycle to work scheme. Salary sacrifice would be around £13 per week. Would this cause issues with NT tax…
-
Scottish Debt\Liability Advice
I am curious and looking for advice I have debts which may become an issue (although steps are being taken to improve this) But should the worst happen I would try to be prepared My Partner owns the property 100% but we both live there My Partner has about £20k savings We do not have a joint bank account We share household…
-
Mortgage Application and DRO
I had a DRO agreed in 2018, discharged in 2019. It now doesn't show on any of my credit reports. Do I need to declare it on my mortgage application when it asks if I have ever been declared Bankrupt? I have checked the London Gazette and my name isn't there, so I don't think it's classed as proper Bankruptcy. What do you…
-
Shared ownership and bankruptcy
Hi all, My husband and I own 25% of a shared ownership home. My husband may have to declare bankruptcy soon. Does anyone know if we will lose the house, considering we only own a small part of it?
-
CCJ After 6 years
Hi, I have 3 CCJs on my credit file. Last one was 2021. I am aware that they will fall off my credit file in 6 years. After that can the debt still be enforced? If I say win the lottery ( can only dream!) After the 6 years, Will the creditor be able to make a claim on any money or assets i have? Thanks in advance
-
Replacement car value in bankruptcy
The replacement vehicle value in bankruptcy has risen from £2,000 to £3,250. The maximum vehicle value in a DRO has risen from £2,000 to £4,000.
-
Vehicles/Assets question
Son has minimal assets. Rented fully furnished house etc. His pride & joy is his bike, currently worth around £5000 although he paid less for it. He's currently unemployed and when working was a security guard on shifts. Would they maybe be flexible and allow him to keep the bike as his only means of transport to work?…
-
Declaring bankruptcy - Scotland
Update on this, all sorted now - thanks everybody :)
-
DRO application, what a shambles!
morning all, sorry for early post, but going out early all day. anyway I spoke to money wellness on Monday saying moving from full-time to part time job next week. about DROs . enquiry, ( cos payplan don't do dros and who said use the CAB) but I choose money wellness who said call them back when that happens.eg I start my…
-
Holiday payments and bankruptcy
Hi all, I am currently looking at applying for bankruptcy. I was discussing my options with Stepchange this morning and I mentioned to them during conversation that I have paid for a holiday via pre arranged card payments which my dad has now taken over to pay the balance. Stepchange advised the holiday could be cancelled…
-
IVA vs Bankruptcy - over £1m debt, no longer homeowners
Hi all, I'd really appreciate some help and advice please. Myself and husband are about to enter a lump-sum IVA but want to check if bankruptcy is not a simpler solution for us. As mentioned, we lost our home earlier this year (forced to sell as there was a secured loan due immediately) so we have the sale proceeds of…
-
IPA end date for restrictions or payments
Good morning, I have an IPA which was signed and agreed on 12 Dec 2001. I paid the monthly payment of £125 each month on time and all was going well until April 2022, when my car broke down. After a discussion with the ORs assistant, a payment holiday was given for 8 months to allow saving up of £1000 for a new car.…
-
Help needed regarding DMP/DRO
Hi, I have debts of around 9500 and was wondering if it would be better for me to take a DMP or do a DRO? What are the benefits of taking a DMP over a DRO and the other way round please. What sort of evidence do they ask for when doing this regarding your budget. Do they ask to see copies of utility bills, rent agreements,…
-
HELP CAN the OR do as they please?Re- deed of assignment on possible aquired inheritance property
Hi all, I have posted on different threads as I had different questions and I appreciate the complexities of my case and I am already paying legal fees with my family to get back inherited property back from my brother I really cannot afford to get separate legal advice. My brother raised my B and my solictors had to go to…
-
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…
-
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,…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
