I've had an answer (of sorts) with regards to the confusion of whether i've got an IPA or not. My bankruptcy assistance company contacted the OR on my behalf and they have said I am NOT subject to IPA despite the fact thay I signed what appeared to be an incorrect £0 IPA. Although they have confirme...

Thanks for all your comments. Interesting from what big al says. It seems this is not an exact science but would appear that the OR has indeed make a mistake?? I will be writing a letter(nicely worded) to the OR to point out the 'error'. So hopefully they will see it as an 'error' and just give me a...

Thanks Skippy!

Hi, hope I'm allowed to post this here. I was made bankrupt on 5th October this year. I have filled out all the forms the Official Receiver has sent to me and returned them straight away. I had no disposable income as only working part time at the moment and therefore not able to pay into an IPA. Ho...

I can personally recommened Melanie as she help me start my IVA a few years back. Don't worry about speaking about your financial situation, it is a big relief to get things off your chester and nobody judges you at all. It's best to be as honest as possible and get it all out in the open in my opin...

Hi, sorry to hear about your predicament. I have been through a similar situation over the last few years. I had been in an IVA for 2 years as I owed money from a previous company failure and also still owned another company. Therefore an IVA was better for me. Unfortunately, the more recent busines...

Thanks again! I don't really want to get to a point where I become subject to an IPA so wondering whether it's worth it at the moment as I guess I would be working for nothing? How do I (or how would the OR)calculate my earnings as a sole trader? Is it my gross take home income per month from being ...

Hi,

Thanks for the advice. Would you suggest I speak to an accountant before starting trading?

thanks

Hi everyone, I was declared bankruptcy a few weeks back and was previously a company director. Obviously, I can't be a director for the next year or so but have been struggling finding a 'proper job'. Am I okay to start a business as a sole trader(self employed). I think I still have an old bank acc...

Hi Paul Just wondering why you paid a much reduced price for bankruptcy assistance, is there a sale on at the moment or is it because this commercial private fee charging company were mentioned several times in your post, I told the company how much money I had left and they said they would provide...

Hi, thanks for all your comments. FAO Melanie, I think the advantage I gained from using paid advice was that, I was panicking so much before filling out the forms and the 'unpaid' advice was not really helping. The company that helped me were basically acted as a councelling service more than anyth...

FAO Moderators - Should I have put this in the Blog section? Please feel free to move it if appropriate!

I'd always suggest talking to your IP first. Bankruptcy is sometimes the best option even if you do have a house and some assets. Remember you are not alone and get advice from people who know what they are talking about. National Debtline will help as well as experts on this forum who I would recom...

I am in the position of having been in a DMP for 18 months then a IVA for 2 years and now bankruptcy. It does depend on your situation but I am still to see ANY advantages in using a DMP. Interest is rarely frozen and you will spend decades paying off your creditors most probably. Granted it does fe...