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Bankruptcy / Assets and Bankruptcy
« Last post by CAquarius on Oct 22, 2020, 01:06:01 AM »
Hi, first time poster so please accept apologies if incorrect format.

My husband was made bankrupt by a creditor in 2018. We have a jointly owned property now at risk (our property is leasehold and has a short lease remaining). Trustee claim to have done a drive by valuation which is higher than what another creditor who has a charge on the property did.  We challenged the Trustee but of course, their valuation stands!

We will struggle to raise the funds they are looking for quickly, although we have offered a smaller lump sum payment which they rejected. Is there anything we can do to protect the home or to challenge what they believe the house is worth to reduce the equity? Thank you.
Dealing with Debt / Cabot Financial
« Last post by tasmo on Sep 19, 2020, 05:17:12 PM »
New to debt forums and I need some advice. June this year I received a letter from Cabot stating that they had been assigned my debt with RBS, I thought this was rather strange as I have never had an account of any type with RBS. So I called them and was informed it was a RBS credit card debt, I tried to explain to them, that I had never had a RBS credit card or any other account with them. They obviously didn't believe me, as 2 weeks later I received another letter asking me to set up a payment plan. I sent them a cca request and after 10 weeks I received a reply, stating that they could not produce a copy of my agreement but the £8100 balance is still payable, though not enforceable. My question is, where do I go from here, do I now ignore it or complain to the financial ombudsman?[/font][/size]
I was declared bankrupt in November 2018 and the certificate of discharge obtained one year later with no restrictions.
I had an Income Payment Agreement (IPA) instalment plan for the remaining tax year months of Jan/Feb/March 2019. IPA payments were made in full on time due to the NT code applied.
When the NT code was applied to my wage slips a full tax year refund was paid into my bank account.
I queried this at the time with the IPA team at Clarke Willmott acting for the Official Receiver. My main concerns were that HMRC would request this payment back and thus I would end up paying twice. They were unable to clarify or advise me the amount HMRC had refunded to me. This reply was received in March 2019 and no further correspondence until today, 18 months later.
No changes were made to my IPA under The Insolvency (England & Wales) Rule 2016 – 10.117 Variation of IPA under section 310A(6)b and now my IPA has expired.
The OR has now made changes to the bankruptcy IPA payments company, a new debt collection agency named Advantis Credit Ltd.
My question is can the debt collection agency’s legally force me to pay now I’m released from Bankruptcy and my IPA has finished?
Any advice or suggestions will be taken on board and I will keep the Forum updated on the outcome.
Many Thanks
Bankruptcy / Re: bankrupcy allowances
« Last post by Scrooge on Jun 26, 2020, 08:03:30 PM »
They should take into account your full costs including caring for children. However, beware of bankruptcy, you could lose all your assets including your house and car if you own them. If you don't own many assets, bankruptcy could be a good option depending on the size of your debt.
Bankruptcy / bankrupcy allowances
« Last post by patchsteven on Jun 16, 2020, 02:42:49 AM »
does anyone know if the living expenses allowed in bankrupcy are more generous than in an iva and secondly although in my expenses ive allowed for child maintenance payments to my ex but sometimes the children stay at my house ( 52 nights a year) so will the OR in bankrupcy increase my food expenses above what i would normally get for those that live with me all the time.
i ask these questions because im currently 1 year into an iva and for various reasons its not working out so im thinking of failing iva and starting a bankrupcy but i dont want to find myself in a situation where the OR actually gives me less allowances than the iva.
Bankruptcy / Re: house in Northern ireland but living in england
« Last post by polly on Jun 03, 2020, 01:41:39 PM »
If the house is in that much negative equity you are just throwing good money after bad.

I would suggest you stop making the mortgage payments, let the lender repossess the property and walk away.

There is lots of information to be had regarding this on the internet.
Dealing with Debt / Re: can i do this. Credit card debt
« Last post by PaulFitz on Jun 03, 2020, 11:53:04 AM »

I am new to the forum and saw this - how are you getting on with the credit cards now?

Bankruptcy / Re: Will you definitely lose your home if you declare bankruptcy?
« Last post by PaulFitz on Jun 03, 2020, 11:48:10 AM »

Why is it you want to go bankrupt?

Dealing with Debt / Re: Debt company chasing me
« Last post by PaulFitz on Jun 03, 2020, 11:46:20 AM »

Did you get a reply on this query? I am new to forum but think I can offer some help - i just want to ask:

How much debt do you have in total estimate is fine:
Are you employed?:
do you own a property?:

If you answer this it will help me work out best way to fix - hope your ok


Dealing with Debt / Debt company chasing me
« Last post by Thepresser on May 20, 2020, 11:23:13 PM »

Hello everyone, fantastic website.[size=inherit]looking for advice regarding a company called Shoosmiths who have sent me a letter regarding £1700 on an unpaid credit card. I stay in Scotland and they are threatening me with all kinds of actions, eg wage arrestment,freezing my bank account etc. I suffer from severe mental health and also ptsd due to a life threatening stabbing incident 2 years ago. I stay on my own and due to work and health reasons I have not had a full weeks wage for over 9 month and that was the reason I couldn’t keep up with payments.[size=inherit][size=inherit]Any help would be appreciated [size=inherit][size=inherit]Thank you
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