Hi all,Just a quick question on filing for bankruptcy… I know from looking around on various websites that there isn't really any help with paying for bankruptcy; I just wanted to know if anyone out there had took out a loan / used there overdraft to pay for it? I know from what I have read that the official receiver wouldn't like it BUT if it was your only option……would you do it?

Hello, I wonder if anyone knows an answer to this. I am in the process of becoming bankrupt. I have a partner and he is in full time work I currently have a small part time job. All the debt is in my name. If my partner buys a car for me to use (he can't drive) will I be able to be the registered keeper of the vehicle? Or will it have to be him? Will I be able to take out an insurance policy paid via direct debit? The car will be paid by cash from his wages. He asked me this question I hadn't even considered it as it didn't come up when talking about it through a debt charity advice line. Thanks Flonda

For a variety of personal reasons this is something I am looking at. Can anybody recommend a good advisor/professional who deals in this that is able to discuss my situation with me - not someone who will try and get me to do an IVA because they make money from it, someone who genuinely deals on the bankruptcy side and who is able to have a professional but sympathetic view? Thanks

Dear all I unfortunately went bankrupt in 2007, after checking my credit file it seems Mint and Welcome Finance think otherwise. My account with Mint is showing as defaulted and still in arrears as is my Welcome one. The question is What should they say? Thank you Eddie

Hello everyone, I am new here and thank you in advance for any help to get me through this nightmare. I built up a debt with IG Index back in 2008. This was built up through a spread betting account I held with them. I did pay a few payments of £50 or so back in 2009 as that is all I could afford. After that I heard nothing from them. On 12/06/2013 I received a letter from their solicitors saying that the balance of £10,712.89 is due immediately. They wanted payment within 7 days or they threatened immediate proceedings against myself. I wrote to them in reply and said I never had a credit account with IG Index so how could I owe them any money. I heard nothing back on that. Today the doorbell rang and I was served with a Statutory demand under section 268(1)(a). It looks like a bankruptcy petition. I am very frightened by this as I am a homeowner and also have 3 children and a wife living here. Also this order is for £10,712.89 + Interest £2,918.29. On the 12/06/2013 there was no interest and it was just mentioned as £10,712.89 and now they suddenly mention interest on this also. a) Can they serve me this notice just like this without asking me for income/liabilities or offer me a payment plan of some sort? b) Can I offer them that now? c) Should I just ask them for all the information I can (all my trade history etc.) under my rights of a "Subject access request" d) Have I got grounds to get this set aside? e) Can I really lose my house? f) What can I do. What should I do. Sorry for bombarding questions but I am so, so worried. I suffer from Crohn's disease which can trigger at anytime with stress and once it triggers its a severe downward spiral. This si why I cannot afford to pay them back any sort of realistic lump sum. I am more than happy to offer them what I can afford, but I cannot see that option here with this service of this notice. Please can anyone help / advise? Many thanks in advance.

Hi all. Was wondering if someone could give me some good advice. Right, The plain fact is that i'm up to my ears in it and i need to go bankrupt but can't afford it. I have heard that you can get creditors o bankrupt you but i'm not sure how. Can i do it through council tax arrears etc and if i can how do i do it. Helpful advice much appreciated. Thanks

Hi im new here and need some advice .First off the background i was made bankrupt around 2 years ago and released a year ago. This morning i got a letter from one of my creditors (black horse) advising me that they had sold my secured loan to a company called marlin europe in the same envelope was also a letter from marlin informing me i must contact them in 5 days to arrange a payment plan. This debt was on the bankruptcy order and the house the debt was secured on went back to the mortgage company.Can anybody let me know where i stand with this . many thanks paula

Hi everyone new to forum and couldn't find appropriate forum to post I was until recently a sole trader and unfortunately due to many factors, I had to close that business and start again, only this time as a director of a limited company. the new company is doing very well, and I am very optimistic about the future. problem I have at the moment is that I have one particular supplier (based in Holland) who are chasing me for payment of invoices for the sole trader business. I have been in communication regularly with their uk based solicitors (who I believe are actually acting on behalf of euler hermes credit insurance group). I have made various offers to make payment in full over a period of time but each offer has been refused. the debt is £75,000 circa, and I have always maintained the intention to repay, but couldn't afford to make large payments to begin with as I have had to wait until the new business becomes more profitable before I can afford to repay the debt - on the offer i made the debt would have been repaid within 12 months. I do not own my own home or car (or anything else as substantial as these) and my only asset is the new business itself. after receiving a stat demand a few months ago, I have now received a phone call from someone who wants to serve a bankruptcy petition against me is there a way I can defend the bankruptcy as I would prefer not to go bankrupt - I have been advised by an insolvency practitioner that I would be best to simply sign my shares in the new business to someone I trust and simply make myself bankrupt, but I really want to avoid this type of action as much as possible any help would be very much appreciated

hello everyone, im trying to get some advice for my friend who is in fiancial difficulty at the minute, he got made redunant 2011 after being on the dole a while they helped him set up a business, everything was going well but the work started slowing down, he had a account with a builders merchant that was fine, he asked to pay reduced payments for a while to get himself back on track as work is slow, they agreed but now want silly repayments back £500 per month he said he couldnt afford it and offered £100 they said no but will accept £250 per month, he wrote back saying im sorry payments too high i dont want to say yes then cant pay please accept my payments of £100, received a letter(see attached ) this morning threating bankruptcy hes worried sick, if anybody could give some advice for him would be greatly received

hi guys new to here so thank you in advance for any help i receive. it is much appreciated as i don't no how many more sleepless nights i can manage. 1st things 1st. i owned a business but closed it down just before xmas due to a couple of other businesses opening up the same as me credit crunch ect student fees going up less students(main business). the sub lease is still in affect until november 2013. meaning we would have to pay business rates up until then. (£450 pcm) our landlord said he would end the lease for us if we paid him 3 months rent. January to march. then all our business rates would also be cancelled as you are allowed 3 months grace when closing a business. Now our landlord has gone back on his word (suspect new incoming tennents have pulled out of taking over our shop.and told us he wants us to still pay him pcm. This now means we also have to pay our business rates pcm which we simply cant afford to do as now we are only living off 1 wage. we signed the lease as a sole trader and became a ltd company a year into our tenancy agreement. so no chance of desolving. Only option for us so we have been told is bankruptcy. Has anyone on here got any advice for us about this or any other options as we are only in our early 20s and want to avoid this is we can. Will the council be lenient or is there any way of reducing the business rates to be able to pay less monthly? as far as the landlord is concerned he is not now my priority to pay. the council come at the top of my list. many thanks for reading this and i am very grateful for any advice given to try help us move forward instead of backwards. thanks again

I have 2 credit cards with a combined debt of £14,000, I also have smaller debts of £150 which can be dealt with As well as the debts I have a £30,000 mortgage, with repayment s of £210 per month, with NR, which I am trying to move to my bank RBS. It seems banks are only giving 70%ltv, this only gives me a small amount to maybe clear one small debt; are there any banks that go to 90% which could allow me to clear most of my debts, and make them manageble In the last year, my health has not been that good, so I dont work as much as I used to, used to work 40 hrs pr wk, but now I only work 26 hr per week. I am hoping this year I can claim tax credits which would go some way to applying of my debts, as well as an increase in hours to meet conditions to claim tax credits Since I am starting to struggle with payments, for credit cards, elec&gas bills, council tax, I find my self falling behind, but somehow manage to make the payments; currently I pay out £240 to barclaycard, £150 to Halifax. Just had my Ele&gas bill of £320, which I just paid I am looking for information on trust deeds in scotland, and debt plans, it more I am looking for who I should speak to in the glasgow area

Hi, I just wondered if anyone had any advice. I had a joint mortgage with my ex-wife, and due to various circumstances beyond my control and after a lot of wrangling and confusion the house was voluntarily repossessed and eventually sold in February this year. Since the letter from a solicitors informing me of this I have had no contact from the mortgage company (Britannia). Given the sale price of £60k and the mortgage/arrears of about £95k I assume this leaves debt of around £35k. Due to my relatively low income level and some other unsecured debts I have no realistic ability to repay this unless its spread over a very long period of time. My ex went bankrupt in February. On my credit reports there is no mention of the debt, only that it is satisfied. Now I am unsure of what to do. I believe the mortgage company has to chase me within 6 years from the sale. Should I contact Britannia? Or assume they will just chase at some point within the next 5 ½ years and therefore just declare bankruptcy now? Or wait and see what happens? Another issue that is playing through my head is that my current car is on its way out and will need replacing soon. As I use it alot I would be looking at spending about £2k on a new one so that it will hopefully last a while, but I’m not sure if this is a good idea if I then go bankrupt as I understand if it’s worth any more than £500 they will tell me to sell it and buy a cheaper one, which would leave me in the same (unreliable) boat. Other than that I have no assets – no savings, no pension, no house (I live with family at the minute), and my car is worth under £500. I am also going to be starting a 3 year part-time course in September which is being paid for by my work, so I suppose this would run together with the 3 year payment term of the bankruptcy. However if there’s any chance of avoiding the bankruptcy it would be incredible, although I’m not expecting much on that front! One further worry for me is that my girlfriend currently lives and studies a couple of hours drive away. We alternate the travel at weekends but if I did end up bankrupt would they allow petrol costs for this? If anyone has any advice I would be very grateful.

Hello, could someone please help me, I am going to declare bankruptcy, I own a shared ownership property which due to me not being able to keep payments up on I rented out, I had to put £100 a month towards the rent to pay the mortgage and rent but for the final few months before the tenants moved out the housing association put the rent up and as I was in overdraft their monthly payment did not get taken and so the mortgage company paid it for me I did not realise this was happening, what will happen about this in bankruptcy? Many thanks

If your company was to go bankrupt in an EU country, would that prevent you from being able to be a company director in the UK?

Can someone please advise me on some issues as i am very confused. I was adjudged bankrupt in December 2010 actually to my relief. I was then discharged in December 2011. I have today registered on checkmyfile.com to look at my credit score as i am needing to open a bank account (i do not want credit just simply one to use for day to day payments and bills). Upon checking this i have found that there are a number of accounts that are still on there that were included in my bankruptcy, should they still be there? If not how do i get them removed or have notes added that they were included in the bankruptcy? Also they are all still showing as 'open', surely this should not be the case if they were in the bankruptcy?! Secondly it appears that there has been County Court judgement made in a different court for something also included in the bankruptcy...is it right that they can do this? Can i write to the courts to have this altered? I have not received any notice in writing about it either. So i am not even sure who it is for, how can i find this out?

Hi to you all, thanks for reading and any advice is really appreciated. I am going to file for bancruptcy very soon and there are a few questions that I need help with. 1. My debts span the last 13 years, most of which I was taking drugs and drinking lots (not my finest hour). Having not paid or ignored any attempts to speak with me I have lost track of who and how much. Where can I get this information from? 2. I have basically been living with no fixed address for the last couple of years but have used my Mothers address for post and also stayed here for a few months when I could get work in the area. I don't want her to be affected by my bankruptcy, is there anyway of keeping her out of the bankruptcy whilst staying at her house or can you file for bankruptcy whilst being NFA? Thanks for your time.

Hi I am a new member and really need some advice. I have spoken to every debt charity i can find been referred to some and now come to a dead end unless i pay a solicitor £1000 to represent me and I haven't got that sort of money right now. I was in financial difficulty some years ago and got myself into debt . I was being pursued by BWLegal on behalf of Lowell portfolio 1 ltd who had purchased 2 credit card debts from Capital One ( Europe ) PLC. The debt was for £886.92 and £2384.24. They issued me an 18 day Statutory Demand dated 13 April 2012 which gave the details of the debt and the default date as 9th December 2005. Lowell Portfolio give the date of Assignment as 19th January 2007. No breakdown of debt or statement has been included. Due to my own ignorance and other reasons i have not applied to set the demand aside and was pressurised and bullied into paying BW Legal £2150 on the 14 May 2012 and agreed to a repayment of £60 per month until the debt was repaid and they agreed a 20% reduction in the total amount repaid. In our telephone conversation i said i can't recall the debt as it was so long ago and they verbally agreed to send me copies of the agreements ( they now deny this). As no copies of the agreements were sent i didn't give them any more money and this resulted in them issuing a Creditors Bankruptcy Petition on Failure to Comply with a Statutory Demand. The petition was dated 15th February 2013 and the hearing date 21st March 2013. I was served the petition by hand in the evening on the 9th March 2013. I panicked filled in form 6.19 and filled a notice to oppose the Bankruptcy Petition on the 13th March 2013. This is what I put: " Take notice that i ........ Intend to oppose the application to make a bankruptcy order on the following grounds : After receiving a statutory demand from BWLegal and being close to the 18 days to set aside the notice. I came to an arrangement with BWLegal to pay them £2150 and then the remainder of the debt to be reduced to £466.53. This was to be paid in instalments of £60 per month with the remaining balance of £46.53. I did state that i did not acknowledge my indie tenses to this agreement and had no recollection due to the fact it dated back to December 2005. I also think the debt is statute-barred. I did however agree to the above if BWLegal would not seek bankruptcy and would in a reasonable time frame provide me signed copies of the agreements and statements from Capitol one Europe plc. BWLegal agreed to this and i paid them £2150 to show good faith. Since then no agreements or statements have been provided as agreed by BWLegal . BWLegal constantly send demands for the outstanding balance of £1120.66 this is contrary to what was agreed. BWLegal have failed to provide the appropriate signed copies of the agreements with Capitol one or any statements of the alleged debt and have not complied with the payment arrangements . I would therefore ask the court to deny the bankruptcy order and ask BWLegal to provide the appropriate proof of debt within 14 days to the debtor. If this cannot be done then BWLegal refund the original payment of 2150 to the debtor. I apologise for wasting court time on this which could have been avoided if BWLegal fulfilled their arrangement ." I attended the hearing on the 21st March and after the district judge it seemed spent 30 minutes explaining to me how serious this matter was and i should get professional help adjourned the hearing of the petition to 14th May 2013. It is further ordered that the debtor must, not less than 4 clear days before the adjourned hearing file at the court and serve on the creditor a detailed statement in support of his opposition to the bankruptcy petition, exhibiting copies of all relevant documents. Dated 21st March 2013 Since then as my wife and i are very stressed about this i have telephone BWLegal repeatedly and asked for a balance to settle. Up to now they just say they are waiting their clients instructions. A person from the nationaldebtline has told me that she thinks this debt is definitely statute barred just because i paid £2150 it was after the 6 year period and the statute of limitations act clearly states that once the 6 year period has gone it cannot be restarted . BWLegal have no right to pursue this debt through the courts and the judge should have thrown it out. She went on to say she wasn't a solicitor and in few of the seriousness of the situation check her advice out. The judge did say that it is in the court discretion to grant a set aside to an 18 demand if i wanted to apply now with good reason ? Not sure if this is a red herring. My problem is what do i do now i am running out of time and cant get good advice without paying and i am flat broke. Do I apply to set aside, can i have some help in filling a better defence, is it true it is statute barred ? Please some one help the clock is ticking for me. Thank you for reading my post .

Hi Guys I have recieved this letter from TBI now. Any advice on how I should proceed please? Does David D Jones even exist as I could not even find a website? Cheers

Is using bankruptcy as a device for debt collection grounds for anulment of a bankruptcy order. I was made bankrupt in my absence & as yet have not been given the opportunity to examine the court case papers. I did not recieve ANY papers concerning the case, but susequent papers recieved , concerning another related case indicate that at the time I was made bankrupt I was solvent, & had I recieved the SD the I would have been in a position to pay the demand, & at the time of the bankruptcy the lawyers representing the claimant,(debt was council tax) knew I had assets far in excess of their claimed amount ,an amount I was unable to verify, as I was unaware of the action against me.

I recently tried to upgrade my bank account with NatWest from a basic account to a Current account, however I was refused due to a previous bankruptcy (removed from credit file March 2013 after 6 year period). Because they were aware of the bankruptcy (when they did a search when I opened the basic account) they stated that they would not be able to help. I attempted to open a bank account with HSBC but came across same issue as I included an overdraft in my bankruptcy. It now seems that all banks (only confirmed with 2) that I have been associated with during and after discharge have black listed me (my words not theirs but no mention of when I may be accepted again). Strange that I actually thought that after 6 years and a clean credit file (with all 3 CRA's) I would not be penalised for this, but it seems that is not the case. I would love to hear your comments/advise on this as it seems extremely unfair. The funny thing is I have successfully opened a current account with First Direct (Part of HSBC group).

Hi there I am confused! I have been having numerous telephone calls from Frederikson International Ltd about an old overdraft with Lloyds. I have ignored the phone and the calls have stopped. However a man called Terry knocked on the door last Friday and asked my 13yr old if I was in. My husband didn't answer any of his questions! I thought her was for the overdraft but I received a letter yesterday with a paying in card from Frederikson stating I could pay at our local post office - which closed about 6 years ago!! I have just checked our mail box and there is a hand delivered letter from T Brydon from Lewis International saying that Lowell have asked him to serve a SD and he will be back on the 20th April. As I haven't left the house since yesterday I can only assume that he didn't knock but posted it. I have had 2 dealings with Lowell - one was for a Capital 1 card and they served a SD. That is how I found this site!! I sent off for the CCA (?) and filed against them and of course they didn't turn up to court. The next week they wrote and said as a goodwill gesture they were closing the case! The second has been for an old T-mobile account. Hamptons Legal last wrote to me on the 11th April 2011. So my question is would they now be issuing a sd after waiting a year? Would they have bought the overdraft off of Frederikson but if so why are they writing to me yesterday? Any thoughts?? Thanks

Hi iv decided to go down the bankruptcy route and looking some advice I live in northern ireland. My mortgage company our going to start repossion soon so I think iv got around 6 months till this happens. Iv read that You may be asked to sign an 'income payments agreement' to pay fixed monthly instalments from your income for three years. So I want to look at what im allowed in my budget for the Official Receiver. There r 5 of us in total 2 adults and 3 children all below 12 years of age. Thanks in advance.

I have been reading this site for the past few days and the advice on here for other people has been great and I have learned a lot from this. I’ve been the Director of my own Ltd Company for the past 4 years after the Government legislation effectively closed down Multi Service Company schemes. I chose the Limited Company route as this was the most tax efficient route, as I am sure many others in my situation did. This had worked alright for me as I was putting money aside every week to meet my Tax payments as they became payable. But this year I don’t have enough put aside for paying the Corporation Tax because the money I normally put aside, I’ve had to use for personal purposes. My end of year accounts show that around £13K will be due to pay, I have not submitted the End of Year accounts yet. I was hoping that I would be able to come to some sort of payment plan with HMRC to pay this in instalments. The problem is HMRC recently contacted me and asked me to submit Self Assessment Tax Returns for the last 4 years. I didn’t realise that I had to do these (I know ignorance is no excuse) but after doing them it turns out I owe HMRC another £12K in tax. I have called them to try and agree a repayment plan, but they have refused and have now submitted a Notice of Distraint! I called them again to plead with them to allow me to pay it off in instalments and this debt is only there because it has built up without my knowledge. Had I known I would have budgeted to pay it off when it became due. They will not budge and have demanded full payment immediately and have threatened me with Bankruptcy!! What would happen to the Corporation Tax debt, (although accounts not filed yet) my Ltd Company and my SA Tax if they make me Bankrupt? I am still working through my Ltd Company, should I go PAYE or Umbrella, or should I open another Ltd with my wife as Director and me a shareholder? If I become Bankrupt will the OR take my wife’s income into consideration as my monthly income, she is not currently working but in case she created a Ltd? Would she become Bankrupt with me or remain unaffected? We don’t have any joint accounts.I live in a rented house and don’t really have any assets of any value, just a car worth around £1K. If I petitioned for BR myself, would that stop the Distraint? Would I get in trouble for the using the money that I should have put aside for the Corporation Tax? What will the OR ask me?Please, please, please any advice would be very much appreciated.

hi guys new to here so thank you in advance for any help i receive. it is much appreciated as i don't no how many more sleepless nights i can manage. 1st things 1st. i owned a business but closed it down just before xmas due to a couple of other businesses opening up the same as me credit crunch ect student fees going up less students(main business). the sub lease is still in affect until november 2013. meaning we would have to pay business rates up until then. (£450 pcm) our landlord said he would end the lease for us if we paid him 3 months rent. January to march. then all our business rates would also be cancelled as you are allowed 3 months grace when closing a business. Now our landlord has gone back on his word (suspect new incoming tennents have pulled out of taking over our shop.and told us he wants us to still pay him pcm. This now means we also have to pay our business rates pcm which we simply cant afford to do as now we are only living off 1 wage. we signed the lease as a sole trader and became a ltd company a year into our tenancy agreement. so no chance of desolving. Only option for us so we have been told is bankruptcy. Has anyone on here got any advice for us about this or any other options as we are only in our early 20s and want to avoid this is we can. Will the council be lenient or is there any way of reducing the business rates to be able to pay less monthly? as far as the landlord is concerned he is not now my priority to pay. the council come at the top of my list. many thanks for reading this and i am very grateful for any advice given to try help us move forward instead of backwards. thanks again

I in need of a little advice. After 20 years of marriage my wife and I have decided that or marriage is all but over. We don't own our home it is a council property and we have 2 kids and I owe about £15000 in my name ie: Credit Cards, Store Cards and my wife owes around £3000 Also my wife works, But ashamed to say I don't due to Mental Health Issues (so I'm a househusband) We are still going to live together for a few more years as we have a lot happening at the moment our children are aged 12 and 3 and have their own set of problems which we both want to be around for to help and also we need a larger house (whether I'm here or not). So we have given ourselves a time frame of 2-3 years before we are separated and in that amount of time we are going to try and pay of my wife's debt first so when we do separate she will owe nothing. And also try to reduce my debt in that time (to hopefully a manageable amount), But if we find in that time frame that our marriage is turning sour we will end it sooner (but hope to have her debt clear at least). Also we are not looking to divorce (not at the moment) but still we are looking to make our own life's But my question is if we are unable to clear my debt what would happen if when we separate and I move out of the family home and then go bankrupt what would happen to the items in the family home (nothing of real high value) and about the only thing I would need to keep is my mobile phone (on contract) due to Mental Health Issues I need to be able to contact people and have internet (for advice). And also how long would I need to wait before filing for bankruptcy after I move out. Also to be legally separated do we have to be apart for a certain amount of time. We are only trying to think about our finances so it will not have a impact on the children's well being and so it can also make our split as painless as possible.. I hope this makes sense and is not a stupid question