09 Mar 2015

Post bankruptcy and secured loan

A question about : Post bankruptcy and secured loan


Our business folded in 2010 and we were declared bankrupt in 2012 and later discharged. We heard recently that the OR no longer has any interest in our house as it is in ( slight) negative equity which was a huge relief. We went into voluntary bankruptcy through CAP and have always done everything by the book. As advised we paid our mortgage but referred all other creditors to the OR or CAP.

09 Mar 2015

Equity in House 6 years Post BR

A question about : Equity in House 6 years Post BR

Might sound silly but I'm worrying, for clarity, can the OR touch the equity in our house 6 years on?

When we went BR we were in negative equity and so purchased the interest for Ј1 each, anyway time has moved in and as well as mortgage payments making a difference, house prices have gone up to the tune we now have Ј60k equity.

The reason I'm asking is because I've just accepted an offer on the house and it's just worrying me, what if they take it?

I'm stuffed, and probably homeless!

09 Mar 2015

Welcome to the Bankruptcy Board

A question about : Welcome to the Bankruptcy Board

Welcome to the Bankruptcy (BR) Board.

Hello and Welcome, Many of the posters on here have been through bankruptcy. They will be able to help, advise and also offer you support. We do have posters who have/do work for the OR and Debt charities too.

Written by Fermi our board guide:-

09 Mar 2015

Tax Return after BR

A question about : Tax Return after BR


Am a self-employed sole trader. Made bankrupt end of last month. The OR said I didn't need to worry about tax until April this year when I needed to set money aside again.