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Advice needed!!
Need some advice so here goes. 51 year old finance manager working in public sector. Current debts £32K. Majority two credit cards, long term debt of 10 years dating back to divorce. Unfortunately current job is affecting my health and relationships and the thought of 10 more years doing this has led to the radical idea to…
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Failing IVA - Questions
Hi, I have decided to end my IVA and I wanted to know, how long does it generally take and IVA company to distribute the funds I have amassed (as none have been so far) there is about £7000 in there. Also how long will it take for my creditors to start to chase me again? Thank you all :) Nik
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Famous bankrupts, past & present
I thought I'd post this to remind us that we're not social outcasts :) King Edward II - 14th century English king. His 14th century attempt to conquer France led to the Hundred Years' War, and the cost of this scheme put him £30 (approx. $60) in debt - over $7,000,000 in today's cash.) :eek: Rembrandt 1606-1669 - the…
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Certificate of Discharge
Dear All, After 12 months, finally I have been discharged from Bankruptcy this week. I received a Certificate of Discharge from the insolvency customer service team. In the bottom of the certificate, its written "If the above-individual requests it, the official receiver will advertise this discharge notice and have it…
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credit paid into account after bankruptcy discharge
I have been asked to help one of my wife's friends with this issue: Here is what I understand: Sophia (not her real name) used to do some work for an agency back in 2016 and was paid into her bank account. In 2017 she declared insolvency and this account as it was overdrawn was included in it. In 2018 she was discharged..…
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Credit File Updated Post Discharge
Hi, I was discharged from bankruptcy on 01/10/2019. I'm now the best I have ever been with budgeting and I am now trying to improve my credit history. On a monthly basis I check my report to make sure all is as it should be and this month I have noticed a change: A debt included in my bankruptcy (Tesco Mobile) has changed…
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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…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
7.2K discussions
41.6K comments
Most recent: How's your experience been with a DRO? by elsien
26 August at 8:45PM
