Bankruptcy & living with it

To help people who are bankrupt rehabilitate their finances, without judgment.

Iva remortgaging
Hi hopefully I can get some advice . We r in our last year of an iva . In September we applied for a remortgage as we had a lot of equity on our house and was turned down . This was done back in September so we thought we had moved on but now are IP says we have to go to mortgage broker this is very frustrating as we…
Can my Mum buy me a car DRO
So my car has died, entered a DRO in Dec 2023. My Mum has very kindly offered to buy me a car as a gift because I've just got a new job caring in the community and I need a reliable car.. Can she buy me a used one or is that not allowed?
Bankruptcy through failing IVA
Hi, My IVA is likely to fail due to not being able to pay the self-assessment tax due on 31/01/24 for 22/23 through self-employment. I offered HMRC payments to ensure it would all be paid off by Jan '25 but this was not accepted. Is it recommended I wait to be made bankrupt or should I do this myself? Are there any…
can i go bankrupt while having a debt relief order
a DRO was created but shortly after more debts were found totalling about £5-6000. they cant be added to the DRO (i checked). can i apply for bankruptcy to deal with this remaining debts? many thanks
Bankruptcy advice
Hello, I'm new to this forum and have been reading through lots of advice and guidance relating to bankruptcy. Long story short, I recently filed for bankruptcy as had over £54k of debt that had become unmanageable and causing lots of stress. I spoke to step change and national debt helpline and opted against an IVA and…
bankruptcy and a DRO?
if someone already is in a DRO but new debts have come to light and cant now be added to the DRO ( the total debts with new ones is still below £30K), can they apply for bankrupcty to deal with the new found debts and have a DRO and bankruptcy at the same time? many thanks
Bankruptcy my only option?
Hi, I am after some advice if possible. Im 32 years old living with my partner & have struggled with debt for the last 10 years. About 5 years ago it spiralled out of control, I contacted Stepchange and was placed on a DMP. I had my little girl in August 2022. Once maternity leave had finished, I returned to work part-time…
IVA to DRO
Hi all, I'm new here so just looking for advice on how to switch from an IVA to a DRO? From what I have found online over the last few weeks is that I need to fail the IVA, wait for the letter of cancellation and then apply for the DRO. Or I could Cancel the IVA and go bankrupt immediately, with no wait period and possibly…
OR has declared no interest in car
I am thinking about giving up my car that the OR has declared no interest in but i still have 19k in finance on it. Debt was incurred before bankruptcy and car is worth around 15k. Would this negative equity be written off in the bankruptcy if the OR has declared no interest?
SOA - Please Advise
Hi all, Preparing everything now to go bankrupt. Please review my SOA below. [font=courier new][b]Statement of Affairs and Personal Balance Sheet[/b][b] Household Information[/b]Number of adults in household........... 2Number of children in household......... Number of cars owned.................... 0[b] Monthly Income…
going bankrupt
Hi I have over 60k worth of debt after leaving abusive relationship and having to give up my mortgaged home, after they sold it, I was left with £54k debt as well as £2k on council tax for that building. I have debts of £5k-7K on gas and electric and old pay day loans from when I was in the abusive relationship, After…
Ex husband bankrubt
My (soon to be) ex husband is having to file for bankruptcy. The only thing left in joint names is a small property that we let out that we cannot sell. What can I do to protect myself from his insolvency going forward?
DRO and buy a car?
When would it be appropriate for someone on a DRO to buy a car of £5000? They have a DRO due to end in 6 weeks and have a job offer requiring reliable transport (not me could i point out)
Bankruptcy approved, a fresh start awaits
After nearly 2 decades of financial chaos, I’ve finally grabbed the bull by the horns and taken charge of my future. To give a little back story, my partner died 15 years ago of alcoholism related illness and I was left caring for not only our shared child but also his 3 from a previous marriage. Unemployed and unable to…
Recently off a mortgage
I am failing to find any information for my circumstances so hoping someone can help. I split with my husband and we were in the process of moving, he wanted the new house so I allowed it to go through and then I was to be removed from the mortgage. I have not lived in the house, paid anything towards it or made anything…
Can this be included in Bankruptcy ?
Please could anyone advise me if solicitors fees can be included in bankruptcy?
Previous BR details.. help..
Good afternoon folks, So it's nearly 4 years since I declared and all is well.. I'm a truck driver for a living and have to obtain security clearance to access certain sites. Part of the clearance process is finical and I must provide details of what debts I had to the penny that were covered within the BR. I've since…
Feeling overwhelmed
Hello I recently applied for bankruptcy as I had several bank loans and credit card debt that I took out to pay for IVF. After numerous failed cycles it took a toll on my mental health and I had to reduce my hours and could no longer make the repayments. I have received a bankruptcy order and I am waiting for the official…
Introduction to my journey
Hi This is the first time I am using this or any forum online. I have had challenges with keeping up with payments and am unemployed for the past 5 months. Having had financial advice from Citizens Advice the suggested outcome is for me to apply for bankruptcy. I don't feel to great about it but I understand how this is…
2nd time bankruptcy
Hi all, I went bankrupt in March 2016 and unfortunately looks like I may have to go bankrupt again. I have no real assets and 30k worth of debt. Before I get to posting SOA etc could I have any advice from someone who has done it a second time? Thanks in advance.

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