Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

    • Jillybeans
    • By Jillybeans 20th Oct 19, 10:34 PM
    • 3Posts
    • 0Thanks
    old Bankruptcy
    • #1
    • 20th Oct 19, 10:34 PM
    old Bankruptcy 20th Oct 19 at 10:34 PM
    Hi Guys,

    Looking for some advice with something thats bugged my family for years, my parents business went bankrupt some years ago, were talking early 90's, but they dont seem to know who they owed or how much they never got a breakdown ??

    There seems to have been so much money over years that has gone or they have never been paid out becuse they were told its gone to pay the trustees or it was paid to the bank, it always refers back to the bankruptcy, even when their mortgage ended mid 00's the endowment payment all went to the bank??

    Is there anyway we can find out how much they owed and to whom? I really dont know where to start, I thought about starting with a subject access request to the bank and solicitors involved, I know the case went to court, would they have details or transcripts??

Page 1
    • boo_star
    • By boo_star 21st Oct 19, 6:16 AM
    • 2,811 Posts
    • 2,158 Thanks
    • #2
    • 21st Oct 19, 6:16 AM
    • #2
    • 21st Oct 19, 6:16 AM
    Not really, no.

    Besides, it's a nearly 30 year old debt that's been forgotten, why does it matter?
    • sourcrates
    • By sourcrates 21st Oct 19, 4:45 PM
    • 18,589 Posts
    • 17,489 Thanks
    • #3
    • 21st Oct 19, 4:45 PM
    • #3
    • 21st Oct 19, 4:45 PM

    Bankrupcy lasts 12 months, after which you are normally discharged.
    They may have had to pay an IPA or a BRU, IPA`s (income payment arrangement) normally only last up to 3 years, but a BRU (Bankrupcy restrictions undertaking) can last as long as 15 years, but there would have been contact from the OR and paperwork if this were the case.

    You can still be liable for certain debts in bankrupcy, unfortunatly with the passage of time its unlikley you will get any clear answers now, companies are only required to keep the last 6 years of data on file, so your task is nigh on imposible.

    You can rest assured that whatever restrictions were imposed back then, they will have been lifted by now.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File and Ratings, Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to:
    Any views expressed are mine and not the official line of
    For free debt advice, contact either : Stepchange, National Debtline, CitizensAdviceBureaux.
    • Minkym00
    • By Minkym00 21st Oct 19, 9:21 PM
    • 219 Posts
    • 87 Thanks
    • #4
    • 21st Oct 19, 9:21 PM
    • #4
    • 21st Oct 19, 9:21 PM
    If your parents can remember he court where they were made bankrupt then try contact the OR’s office local to that court. Send them an email with your parents name, date of birth and address at the date of the order and ask them if they can provide the information you are after. If nothing else they should be be to advise the amount of bankruptcy debt.
    • Brock_and_Roll
    • By Brock_and_Roll 22nd Oct 19, 9:06 AM
    • 1,002 Posts
    • 1,003 Thanks
    • #5
    • 22nd Oct 19, 9:06 AM
    • #5
    • 22nd Oct 19, 9:06 AM
    Presumably the endowment payment all went to the bank because the OPs parents were allowed to stay in the marital home at the time rather than it being repossessed and sold to pay the debt?
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,173Posts Today

7,717Users online

Martin's Twitter