We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Owners handing in the keys
Comments
-
Dithering_Dad wrote: »I guess they could trawl through 10 year's worth of back issues of the Gazette per mortgage application, but I put it to you, M'despairgirlud that if banks couldn't be bothered even requesting 3xmonths payslips for 'lie to buyers', then they won't be trawling through microfishe to find bankruptee's.
Hey a nice little earner, do the trawling and sell the data to the banks in summarised form (or is that illegal?)'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
I think it's online already, but I could be wrong....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0
-
Bankruptcy Restriction Orders can last for up to 15 years.
Searches can be done here:
http://www.insolvency.gov.uk/bankruptcy/bankruptcysearch.htm
This is always interesting reading.
http://www.insolvency.gov.uk/databases/ddirector/viewbrobrudetailslatest.asp
WOW!
This one got 10 years:
Unfit Conduct A) That by letters dated 23 February 2007 and 04 May 2007, falsely represented as being from the Official Receiver’s office, a bank was induced to remove restrictions placed on the business account of Sharon Evans (“the bankrupt”) following the making of a Bankruptcy Order against her on 18 December 2006.0 -
neverdespairgirl wrote: »It's not quite a year, though.
Bankruptcy lasts a year, then automatic discharge kicks in (assuming you co-operate with the Official Receiver). Early discharge happens sometimes as well.
But if you have an IPA / IPO, you have to pay your creditors via the OR for 3 years.
There are quite a lot of IPAs, but IPOs are as rare as hens' teeth. The stats are here: http://www.insolvency.gov.uk/otherinformation/statistics/200811/table2b.htm
Comparing the IPAs (running at around 3k per quarter) with the number of bankruptcies (running at 15k per quarter), it's only in around 20% of cases where an IPA is made. The other 80% of bankrupts are off scot-free after one year.No reliance should be placed on the above! Absolutely none, do you hear?0 -
I do a few hours a week at our local credit union. Hope fully it helps to keep people out of the hands of sub prime mortgage lenders. By and large, we offer far more competitive loans however the loans are usually no more than £250. We use very strict criteria, insisting on an soa as well as other documentation. finally we do an Experian credit check . Even so we get defaults. I can see no wisdom in the way the lending houses have been dishing out huge sums of money using less screening than we do.
It comes to no surprise that we are in the mess we are in.0 -
Trollfever wrote: »Bankruptcy Restriction Orders can last for up to 15 years.
http://www.insolvency.gov.uk/databases/ddirector/viewbrobrudetailslatest.asp
A BRU or BRO isn't standard, it's where there has been naughtiness - such as gambling, preferring a creditor, etc....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
There are quite a lot of IPAs, but IPOs are as rare as hens' teeth. The stats are here: http://www.insolvency.gov.uk/otherinformation/statistics/200811/table2b.htm
Comparing the IPAs (running at around 3k per quarter) with the number of bankruptcies (running at 15k per quarter), it's only in around 20% of cases where an IPA is made. The other 80% of bankrupts are off scot-free after one year.
An IPA is when it is agreed, and if the OR and bankrupt can't agree, the OR can go for an order from a judge - an IPO....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
neverdespairgirl wrote: »An IPA is when it is agreed, and if the OR and bankrupt can't agree, the OR can go for an order from a judge - an IPO.
The IPOs are there to encourage agreement. Still, it's amazing that agreements outnumber orders 200:1.No reliance should be placed on the above! Absolutely none, do you hear?0 -
I do a few hours a week at our local credit union. Hope fully it helps to keep people out of the hands of sub prime mortgage lenders. By and large, we offer far more competitive loans however the loans are usually no more than £250. We use very strict criteria, insisting on an soa as well as other documentation. finally we do an Experian credit check . Even so we get defaults. I can see no wisdom in the way the lending houses have been dishing out huge sums of money using less screening than we do.
It comes to no surprise that we are in the mess we are in.
What's an soa?
I was talking to some micro-financiers in India, and their rules are incredibly strict.No reliance should be placed on the above! Absolutely none, do you hear?0 -
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.2K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.8K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards