Can My Father-in-Law Make Me Bankrupt?

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Question Jon, My father-in-law gave me a loan of £10,000 as a deposit on a property 5 years ago. He is now saying he wants to be paid back, and if I do not pay him back, he will force the sale of the property to get his money. I am unsure what to do? […]

I Owe £200,000 And Need Advice As What To Do?

Question I need some advice and help as to what I can and cannot do. My situation is as follows: I owe £200,000 for accounts, loans and supplies I ordered for my company. The company is in just my name as a sole trader. Some of the loans I guaranteed. My company is no longer […]

I Lost a Lawsuit And Am Being Threatened With Bankruptcy

Question Hi, I am in a big jam here. I was sued by a previous business partner of mine for some disputes we were having and they were awarded a judgment against me. They won the lawsuit. Now I owe them £100,000, and they are threatening to make me bankrupt. They know I own various […]

I Need Debt Advice To Not Lose My Home

Question Jon, I defaulted on a huge loan for my business, which I was the guarantor. The loan was for £20,000 to begin developing a parcel of land and build a retail park. I had other investors who in turn each pledged £20,000, and in total the cost at our end was £160,000. I under […]

Can I Include a Repossession Shortfall In Bankruptcy?

Question Was made bankrupt last June via email. I had a ltd co loan secured on a property that was repossessed, undersold and then the bank chased me personally for the £800,000 shortfall. Can I write off/set off the outstanding using PAP or affidavit? Answer Robin, Your situation and questions are more of a legal […]

Can I Be Made Bankrupt in The UK For a Debt in Dubai?

Question I am being threatened with being made bankrupt over a debt I left in Dubai. I left Dubai 3 years ago when I lost my job, which means I lost my Visa to stay there. I had a loan I took out and also a credit card in Dubai. Now a loan collector here […]

Can I Be Made Bankrupt in The UK For a Debt in Dubai?

Question Hi Jon, I moved to Dubai 5 years ago and lived there 2 years. Once my work contract ended I had to move back to the UK as my work Visa to stay in Dubai had expired and I could not find new work. When I left I had a car on finance and […]

Will I Lose My House Due to My Husband Being Bankrupt?

Question My husband has recently been made bankrupt by a company he owed money to due to a bad business deal. He owes them £90,000. He also owes others around £45,000. I own the property we live in. I owned it before we got married, and he moved in after we got married, 10 years […]

What is the Difference Between Insolvency and Bankruptcy?

When people say they need to go bankrupt, they usually are referring to the fact they are struggling with bills and debts, may have collector chasing them for payment, and in general cannot afford to pay their accounts. For many people, they will struggle with paying debts, being in arrears, in default, and being chased […]