Hi All: I went BR last September, and following advice from here, I was lucky enough to clear my IPA payments due to a kind family member. After discharge, does this mean that I will be completely free of my obligations to tell the OR of any income increases etc, or does that still stand for the 3 y...

As far as I understand it, they will take account of how much she contributes to the household outgoings per month.

I did exactly what Melanie suggested. As soon as my NIL tax code kicked in, I stuck this tax money into a savings account, toehter with the amount I knew my IPA was going to be. I went BR in September, and made my first payments in December. Both the OR and Clarke Wilmott have been fine to deal with...

Thanks as ever Melanie.

I didnt mean having assets abroad, but I did mean that if, say, one decided to live in any other foreign country, I understand that Bankruptcy from the UK is not recognised there, in terms of obtaining further crdit (mortgage) etc etc.

thanks

I have read on other forums that UK BR is only recognised here. If a BR person was to move to any other country, the fact that they had previously been BR is not recognised.

Is this true?

My OR told me that she didnt need to inform my landlord as I had given her a copy of the complete tenancy agreement, and also the terms of my tenancy did not mention Bankrupts.

Check your agreement, and make sure you give the OR a copy.

hi all,

once discharged from BR, do you still have to notify the OR if your pay increases within the 3 years, and therefore increase your IPA payments?

following discharge from BR (I am not there yet...) I understand that there are a select few lenders who will consider you? Is it a case of, the longer you leave it, the better? the higher the deposit the better and basically, do they look at affordability just as in normal cases, but simply load th...

how often does this really happen to BR cases? it is unusual or commonplace?

Hi Skippy,

Mine too has passed onto this team.

I emailed the OR to ask why, and he told me that my entire case had been passed to the RTLU where they would monitor my IPA payments.

I was worried at first too, but as I have no assets, I can only assume it too was for passing on a workload.

Also, Bankruptcy protects you from your creditors, once you are declared BR, the Official receiver controls your assets and finances. The creditors are no longer able to chase you as it is out of your control, and have to speak to the OR instead. It sounds as though you dont have many assets. And, g...

I declared myself bankrupt 3 months ago. At first, I panicked, was embarrassed, felt like a loser etc. etc. but, from the advice on this site I made my decision. It is the best thing I did given the situation I was in. The calls from the creditors stop, the stress hanging over you goes away, and, in...

post your questions, listen to the advice but make sure you make up your own mind.

There is a wealth of great advice here and great people with a lot of advice.

good luck, you are not alone.

It strikes me that your current decision is the work out the likelihood in your own mind that the sale will go through, and also when.

Also, if it falls through, what are you then going to do?

If it were me, seeing the current state of the housing market, I would go for a IVA or F&F IVA.

I declared myself BR at the end of September. If you can, get one a basic account opened before BR. I used the Natwest, but there ate others at Halifax and others.

Basic Bank accounts are designed for people just liek bankrupts, people in IVA's etc, so dont worry.

GOOD LUCK!