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Tax Credit Debt
Hi all, I’m currently bankrupt (as of May ‘19). I was under the impression that my Tax Credit overpayment would be included, is that incorrect? I’m still paying back £70 odd a month out of my Universal Credit. Haven’t been on the ball and only just realised, I will give them a ring tomorrow to query it.
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New valuation for car buy out
Hey So I went bankrupt in 2017 & discharged 2018 and part of this included a buy out amount for my car. It was valued at £3600 and monthly payments set up however they called few weeks back to say they were sending out a new SOA and would re value the car... Why would this be? Obviously it would not have increased in…
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SOA advice, thank you.
Statement of Affairs and Personal Balance Sheet Household Information Number of adults in household........... 2 Number of children in household......... 0 Number of cars owned.................... 1 Monthly Income Details Monthly income after tax................ 1550 Partners monthly income after tax....... 286.65…
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Business insurance for director of insolvent company
Hi All, Apologies if this is the wrong place to post, not much of a forum user! I am helping a colleague who was a director of a company which went into insolvent liquidation in 2008. He is now looking to open a restaurant but isn't sure how to approach insurers when it comes to the proposal form questions about previous…
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Bankruptcy probability calculator
Hello guys. A few years back I took out a 12K loan from a bank for an educational course (student finance was not sponsoring the program). It is a steep loan - interest is at 9% and the repayment is at 450 per month. I have about 8K outstanding on the loan. I lost my job a few months ago and sadly firms are not really…
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HMRC bankruptcy letter received
Hi I have had on/off contact from hmrc since 2013 regarding non payment of capital gains tax on 3 properties I bought and sold consecutively in 2006 to 2008. I didnt pay any tax as I was living in a rental property and each property was owned solely ( I wrongly believed this meant I didn't have to pay CGT ) . When they…
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Bankcruptcy question
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Opening an account at Starling Bank
Has anyone who is bankrupt and been discharged managed to open an account with Starling Bank. Its one of the new mobile only banks and I applied but have been rejected. It did say on MSE website that they only did an ID check if you didn't apply for an overdraft. Looks like this information is incorrect. I've been…
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Help please
LOOKING FOR HELP PLEASE. Hi Wondering if anyone can help before we seek legal advice. My ex girlfirend's father sold us his house at an undervalue in 2016 when we were together (we have two children together) I pay the mortgage (£50,000) and see it as investment for our children. In 2018 her father had to go bankrupt (he's…
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Going bankrupt but have my dad money
It looks like bankruptcy is my only option. I am a landlord with multiple properties. Rent isn't covering mortgages and in I am in negative equity and a lot of personal debt. Things started going wrong 12 months ago after my wife's cancer diagnoses and several properties simultaneously becoming empty that needed a lot of…
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Pregnant and about to declare bankruptcy.
I am around 8 weeks pregnant (unplanned but I am happy), my partner and I are currently not living together as the plan was for me to sort my debts before we began living together. That maybe change now given the situation, but I am not sure. My take home pay each month is £1750. My rent, council tax, utilities & tv…
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Official Receiver
Hello All! I'm in the process of filing for bankruptcy whilst staying with a friend, will the official receiver look into their own housing benefits or be bothered with my accommodation as I'm contributing to the house. I'm not registered on the council tax, is this of interest to the official receiver and could this…
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My SOA - Please Help
Below is my SOA. I currently live on my own with 1 dog. I am 10 weeks pregnant. I have budgeted about £171 a month for baby items such as a pram, a cot, clothes ect This will give me £1190 for everything I might need as once I am maternity I will have a very low income. I am not sure if I will receive any help with the…
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I am bankrupt and received a letter from PRA GROUP
Hello, Could you please help me understand what this letter mean ? I have been made bankrupt at the end of august 2019. 3 months ago. Today i received 2 letters from PRA GROUP telling me they bought one of my debts from Aqua credit card and although they say = this i snot a payment demand- further down the page they write…
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Bankrupcy coming off credit file has DECREASED my credit score?
Hi there, I have the Clearscore app and my bankruptcy came off there overnight (from the 5th November 2013)...resulting in my credit score (Equifax) going DOWN 30 points and remaining in the Poor range. Oddly enough, I checked Experian the other day and that is showing as Good in the 940's range. Why would there be such a…
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SOA help?
Can someone please tell me where I can fill out my SOA please I have been looking for the past hour and I am unable to find this. TIA
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Bank still chasing payment after BR
Hello I was made bankruptcy in may 2019. All the letters from my creditors have stopped apart from one from Lloyd’s credit card (I only defaulted on the month I went bankrupt and the debt was included with my bankruptcy) What’s the best way to deal with this? Shall I write or email Lloyd’s with my bankruptcy order and…
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Life insurance and buy back?
I was declared bankrupt in June 2018. OR wrote last week about buying back the beneficial interest in my life insurance policy. It will cost £50. I'm a bit confused though: - Is it worth buying back to life insurance policy? I've had it for about 9 years. - Can I not just cancel the policy and get a new one? Or would this…
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Bankruptcy for Mum and SOA Help Please
Hi Guys, Your help would be much appreciated please. I called the national debt line regarding my mum's debts and the person I spoke to advised bankruptcy as she has no assets, rents and is not planning to buy a house, her debts are high and her income is low. I have completed a SOA below, but I am not sure if this is done…
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Trust Deed and Self Employment
Hi, It is looking increasingly likely I will be forced down the route of a Trust Deed due to an impending tax issue. I currently run a small catering business, i operate as a sole trader, which employs three people - two part time and one fulltime. The business is profitable outside of this isolated tax issue and theres no…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
7.2K discussions
41.6K comments
Most recent: DRO Approved - What Happens Next by sourcrates
31 July at 5:28PM
