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Will single bankruptcy effect husband, house & business!?
Hi, I’m thinking seriously of bankruptcy. I’m not eligible for an IVA and my debts are over 20k if I file for bankruptcy myself how will this effect my home? It’s mortgaged but only in my husbands name, I’m not even on the deeds. Also he’s worried it could effect his business (he’s self employed with a business partner) my…
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Stepchange
I see that a few Stepchange advisors are active on these forums. A quick question; Stepchange receives most of its financing from the credit industry. It claims to give impartial advice to those affected by debt. Is there not a potential conflict of interest? Is there not pressure on Stepchange to offer advice that…
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Preferential payments
13 months ago my mum lent me some money to buy a car. I have been paying her back £100 pcm without fail. At what point does she become a preferential creditor? How many months before bankruptcy does this apply to? I’d like to clear it if I can before bankruptcy, but then that’s surely making her a preferential creditor.…
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another BR consideration..
Insurers are refusing to renew car cover for a (November 2018) BR.. Oddly another will.........for an extra £500
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Car insurance
This is a bit odd but I went Bankrupt in June this year. My insurance renewal has come up and I rang the Co op who gave me a great quote. I advised them I was bankrupt and the lady said that shouldn't make any difference. She then gave me 2 payment options, one of which was monthly via direct debit. I said, I was surprised…
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Sale of house and surrender of life policy
Any help with the following would be greatly appreciated. I am trying to establish if a well known bank acted unlawfully regarding convincing my father to sell the family home and surrender life and pension policies. The events listed below took place between 1984 and 1987. Having retired from farming in the early 1980's…
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OR interaction help please.
Hi, I am wondering if anyone can advise me please? I was confirmed bankrupt on 12th August and have had my interview with the OR. Following the interview he told me a few things and has sent me letters which i don't completely understand or have heard before. The first thing is that I have a car (BMW 1 series 67 plate)…
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Car and bankruptcy
Are there any people on here who have experience of keeping their car? My car that I use to get to work and take my daughter to school is valued on Parker’s guide at a resale value of £2,000. I’m told you can only have a car of £1,000 in value. Is this correct? I’m debating whether to sell it myself and get a lower value…
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Preparing for bankruptcy
I have a million questions about bankruptcy, but could anyone help me with the following: 1. How many months of bank statements do I need to provide the receiver with? 2. Does the OR inform all accounts I have or just the creditors? For example, I have a Monzo account with no borrowing facility and would like to continue…
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Mortgage rates for ex bankrupts
Hi, I’m considering on attempting on getting a mortgage now, 2 year’s post bankruptcy but people on here have kindly advised me rates will be about 5% and deposit being 25%. Anyone know what options will be available 3 years post bankruptcy and if it’s worth holding off? Thanks
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Debt relief order and written off debts
Hi I was having a serious mental breakdown months ago and not working as I was on benefits so sought the help of citizen advice.. My debts were over 20 000. Some were written off but some like Barclays and next refuse to write off so citizen adviced me to apply to step change for dro. I am still not a good place at all and…
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Can I keep one credit card
Im due another baby in december and ive just taken out a vanquis credit card. I have a limit of £500 and im due to recieve it next week. This would be paid off in little bits by me and in larger chunks by my babies dad (we arent together, but card is just in my name, mutual agreement we have come to to help us get the baby…
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Preferential payments
Just got to this question on application and was wondering..... My dad let me use her credit card to pay for shopping the other month and the following month i paid it off. Does that count? Do i have to declare that? I also pay a £1 to a company each month as they have logged a ccj against me and threatned me with bailiffs…
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URGENT.. Statement of affairs BR HELP
Hi everyone, really desperate to apply for bankruptcy (have a court date due next Thursday and ideally would like to get this application gone by tomorrow) but having problems with income and outgoings. We are always skint and on paper its looking like we have £258 spare each month? I dont get it?! If we did id have no…
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Should I stop all DD
While saving up to get funds for bankruptcy should I cancel all direct debits, Would this be ok by the OR, or would they ask where that money has gone.
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Sunmons and BR
I am so close to pressing the 'go' button but still going through income etc.... However i have a court summons for non payment of council tax approaching. I dont want a liability order placed on us so trying to get it through before the date (which us 22nd august) ive spoken to the council and they have confirmed that the…
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Credit with creditors after insolvency drops off credit file
What are people's experiences of creditors once the 6 year mark has passed. Are they happy to accept you back as a customer, or lifetime ban ? My insolvency was an IVA, but I suspect the attitudes will be similar across bankruptcy,IVA, DRO etc (although would be interested to hear to contrary) I can confirm that capital…
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Bankruptcy restrictions order
Hi, I'm currently under bankruptcy which finishes in 3 months. I also have a bankruptcy restriction order of 5 years. My question is while the BRO is still running will that be penalising my credit rating as well? So after the BRO is finished in 5 years I will have another 6 years before my credit rating is normal? Or once…
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New bank account whilst becoming insolvent
Firstly, I hope I'm posting in the right thread, apologies if not. My sister is currently in the process of Insolvency (being assisted by Citizens Advice Bureau). She has an overdraft with her current bank account with a high street bank but hasn't been made aware that a new clean bank account should be set up before the…
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Looking to rent
Morning everyone. I'm 2 years post discharge and looking to rent my own place for the first time (small studio in a popular town). So far I've been renting rooms privately but I want my own place. I know my credit history is going to write me off with estate agents, but is there a chance I could pay e.g. 3 or 6 months in…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
7.3K discussions
41.9K comments
Most recent: Almost at start of Year 3….. by ManyWays
14 April at 10:30AM
