Ask a StepChange (formerly CCCS) counsellor a bankruptcy question

JanetAsh

Hello,
I completed a 6-year Stepchange IVA in 2012. I have recently had notification from Barclaycard that I may be entitled to a PPI claim. I don't hold out much hope but if I do receive any funds should they be paid to Stepchange or myself?

StepChange_Allen

JanetAsh wrote: »

Hello,
I completed a 6-year Stepchange IVA in 2012. I have recently had notification from Barclaycard that I may be entitled to a PPI claim. I don't hold out much hope but if I do receive any funds should they be paid to Stepchange or myself?

Hi Janet

Thanks for your post.

I've had a look into this and my understanding is that after an IVA is completed there is no issue with attempting a PPI refund. I can't give you any guarantees, but I can't find anything to say that you can't claim or that it would be affected by the previous IVA. Therefore it seems there's nothing to lose.

I hope this helps.

Allen

Simontheframer

I am a sole trader who was made bankrupt last Thursday by HMRC. I am expecting a BRO as I have neglected my returns and payment to HMRC and had a gambling problem which I am now receiving help with.
The business is profitable in a small way and I would like to continue to trade and pay may taxes when due and any amounts due under the likely BRO. I understand I can continue to trade (despite the OR telling me I must cease trading as I think he thought I was a limited company).
There seems to be some online information suggesting that the OR will want to sell the business.
Seeing as the business is basically me and no-one will want to trust a potential business buyer to frame their precious artwork how likely is this?. Most advice is saying it is very unlikely that the OR will want to sell the business and would rather recoup money under a BRO and sale of assets (I don't have any). Advice appreciated?

casp21

Hi was wondering if you could help me with this. I sent an email but not sure if I have to post it here. Just wondering if the below is something that is standard practice?

my daughter is near completion of her first house and my husband and myself are gifting her £11,000, she has saved the other £17,000. we wrote the standard letter saying we do not have any future interest in the property and we don't want the money back. Everything was going OK until Halifax has asked for a bankruptcy check via our solicitor so we passed on our discharge letters from 2011. My husband and I went through bankruptcy nine years ago, discharged 8 years ago. We are giving the deposit from my husbands SIPP. We are worried sick now that she could lose the house because of our previous bankruptcy please help.

luvchocolate

So sorry I forgot I was on the the Stepchange thread!!!
Senior moment

Simontheframer

Hello, I'm due to receive my forms from the OR today prior to interview. I'm self employed and am intending to carry on trading as the business is profitable. My takings and outgoings vary considerably month to month so how do I work out these figures, divide the years figures by twelve to get an average for both figures?. And if a figure is arrived at and things take a downturn thanks to Brexit etc what happens then!?, Thanks

StepChange_Rachael

Hi

Thanks for posting on the forum.

I can understand you’d need answers regarding your business as soon as possible. However, you’d need to seek specialist debt advice from an organisation specialised in self-employment. The Business Debtline would be the best organisation to speak to regarding your bankruptcy petition and ongoing trading through your business.

You can find the link here to their contact details and website. They offer free debt advice for anyone self-employed with or without business debt.

I hope this helps.

Thanks
Rachael

Simontheframer wrote: »

Hello, I'm due to receive my forms from the OR today prior to interview. I'm self employed and am intending to carry on trading as the business is profitable. My takings and outgoings vary considerably month to month so how do I work out these figures, divide the years figures by twelve to get an average for both figures?. And if a figure is arrived at and things take a downturn thanks to Brexit etc what happens then!?, Thanks

StepChange_Rachael

Hi

Thanks for your post.

For detailed advice regarding bankruptcy procedure the best people to speak with would be the Insolvency Service or your solicitor should be able to give you more information as to why they are asking for the letters. This area falls into legal advice and as a debt advisor I wouldn’t be able to give you an accurate explanation. However, from my understanding I can’t see that the help towards the deposit would be a problem as the bankruptcy was nine years ago. The only potential impact I could see being a problem, is if your husband released the lump sum from the pension SIPP before being discharged from bankruptcy.

Take care,
Rachael

casp21 wrote: »

Hi was wondering if you could help me with this. I sent an email but not sure if I have to post it here. Just wondering if the below is something that is standard practice?

my daughter is near completion of her first house and my husband and myself are gifting her £11,000, she has saved the other £17,000. we wrote the standard letter saying we do not have any future interest in the property and we don't want the money back. Everything was going OK until Halifax has asked for a bankruptcy check via our solicitor so we passed on our discharge letters from 2011. My husband and I went through bankruptcy nine years ago, discharged 8 years ago. We are giving the deposit from my husbands SIPP. We are worried sick now that she could lose the house because of our previous bankruptcy please help.

KEHxxx

Hi I am looking for some advice before I make myself bankrupt. Do I HAVE to legally disclose my husbands income if I am the only one going bankrupt or can I ask the OR to assume I pay 50% of the bills which I do? My husband doesn't want me to give details of his income which is much higher than mine as it will mean he would then have to pay a higher percent of the household bills when we have always split it 50/50 as I chose to work part time to be able to take children to and from school. Can the OR check his back accounts etc? This is going to cause some issues between us and we are already really just living together for the children but in the same house.

I am so worried about this whole process.

Frank38

Hi
Can I ask, when does the 6 year period end ? Is it from the date of the Bankruptcy Order or from the date of the Discharge ? Our Bankruptcy Order was on 14th May 2014 and the Discharge Date was on 27th May 2015 so does the 6 yrs end in 2020 or in 2021 ? Grateful for clarification. Thank you.