Welcome Newbies and Lurkers

solventsoon

Good morning to my fellow bumpees and to everyone else out there.

Hope you all have a good Sunday:)

dojoman

Hi SS, hope you are well today?

IF

Afternoony all.

Hope your having a nice Sunday Dojo and Spoon?? xxx

moneynightmares

Hi everyone,

My husband and I are considering bankruptcy. Our history is using credit to live, and bad advise previously to consolidate with a secured loan, hence the real prospect of negative equity on a house which requires considerable improvements/maintenance. Also still have substantial unsecured credit. We are considering stopping paying the mortgage and let them repossess. Started a DMP in Feb, but struggling to cope.

My queries/worries (which I'm sure won't be my last) are as follows:

1. Our only asset is our car. What would happen if we sold it now to pay of a debt to a family member?

2. An IPO/IPA 'USUALLY' lasts for 3 years. What are the circumstances which would result in it being extended beyond this?

Hope you can help

dojoman

Hi MN, welcome to the forum, I see you have posted this question on the main board, that is the best place for new questions otherwise they can be missed.

IF

Hi and Welcome moneynightmares, Please see your thread as you do have answers there. Click on blue link below:-

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> https://forums.moneysavingexpert.com/discussion/3566473


Best wishes
If...x

IF

dojoman wrote: »

Hi MN, welcome to the forum, I see you have posted this question on the main board, that is the best place for new questions otherwise they can be missed.

Great minds Dojo xxx :A

solventsoon

dojoman wrote: »

Hi SS, hope you are well today?

I am thank you, Dojo, and hope you are too?:)

ifwisheswerehorses... wrote: »

Afternoony all.

Hope your having a nice Sunday Dojo and Spoon?? xxx

Hi If, thank you, I am xx Hope yours isn't going too badly and you haven't splattered paint everywhere:D

solventsoon

Welcome to the Bankruptcy (BR) Board.

Hello and Welcome, Many of the posters on here have been through bankruptcy. They will be able to help, advise and also offer you support. We do have poster's who have/do work for the OR and Debt charities too.

Written by Fermi our board guide:-

"Many people find that debt and bankruptcy is the cause or result of a period of great distress and anxiety in their lives. For some this can reach a stage where it is difficult to cope. So I would remind you that The Samaritans are available to help you through your troubles if the emotional side threatens to become overwhelming."
The Samaritans - Click here

Helpful Links and Information.

To post your question go to the top left hand side of BR board, opposite the page numbers and press the "New Thread" button as shown below:

And type in the Title to your thread. If your post doesn’t get answered straight away please don’t lose heart, it’s often due to not being a 100% sure we would be giving the correct answer. If you find your post is not answered and it’s on page 2, please ‘bump’ your post back up the board.

We often ask you to post your SOA so we can see if you have included what you need to:-
MSE SOA Calculator - Click here Select the MSE format at the end. Copy and paste onto your thread.

For ‘essential’ BR info this is Fermi’s sticky - Click here

BR Abbreviations - Click here

IVA & DRO Board - Click here

If you are new/old to this board and receive/see a comment that is not helpful or insensitive please don’t let it put you off posting, often these comments are made by people who don’t normally contribute to this board and don’t speak for us.

What to do if you get an insensitive or hurtful comment - Click here

solventsoon