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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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LTD Company; personal bankruptcy?
Me and my spouse both work through our LTD company as directors with 50% of the shares each. The business has no assets or savings. I’ve got a lot of personal debt (credit cards and overdraft) which I’m struggling to pay off. If I went bankrupt, would it affect the LTD company? Should I resign or leave the LTD company…
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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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HMRC self assessment tax debt
Hi guys This is my first post so not sure if this is the right section to post I was self employed director through my own Ltd company. For 3 years I worked on building sites and was getting paid directly to my Ltd company bank account. The contractor was deducting 20% cis tax. I completed self assessment returns on my…
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Confusion over tax credits repayments.
I appreciate this might have been asked before but I think my situation is sort of unique so I wanted to start a new one. Since March 2018 me and my partner have been paying back a Universal Credit advanced payment (£1175)- We also both have Tax credits to pay back (not sure why, we did all the honest figures and still got…
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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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Moving abroad with an IPA
Hi I’ve just recently been approved bankruptcy on the 14th of August and agreed to pay an IPA. My mother and father are moving to Portugal in 12 months and I would like to move with them. When should I tell the trustee that I intend to move? And what will happen to my IPA if I move with no job prospects? How likely are…
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BR and effect on spouse
Please could someone advise me. When filling in my bankruptcy forms will my husbands financial situation be taken in to account? We don’t own a property but he does have savings. Does the form ask for his income and if so is it just in order to establish that I am paying half towards household expenses? Thank you in…
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Will my bankruptcy affect my partner if we marry?
Hi. I’m bankrupt and will be discharged next month. My partner had a DRO but that’s recently completely come off his record so he is now working to build his credit rating. Obviously I have to wait another 6/7 years (confuses me when it’ll actually come off my record!). Anyway, long and short of it is... if we marry, will…
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Secured loan
Hi I will be having to declare bankruptcy soon due to our joint mortgage being on interest only and us not having the means to pay it back at the end of the term. We have a secured loan against the property and I just wanted to clarify that this would be put in the bankruptcy as it’s secured on the property? Sadly the…
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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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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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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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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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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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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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Universal credit
So when entering income..(on br application) What do you key if the amount of universal credit is different every month??? Same applies for wages? Thanks.
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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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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…
Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).
7.2K discussions
41.8K comments
Most recent: IVA for Twelve (12) YEARS???? by ManyWays
15 November at 11:45AM
