Today In UK Debt: 22/04/2022

2022 calendar

It’s Not a Lie….If You Believe It! The government is trying to sweep this “partygate” under the rug, or carpet. And who knows, they may very well do it. But please….do not insult our intelligence any further! Resignations are in order, and a New Order is in order. But will it happen??? Who knows. I […]

What Happens If I Fail My IVA?

For many people who are in debt and are struggling and want to avoid bankruptcy, an IVA/Individual Voluntary Arrangement is a good option. In an IVA you are still insolvent, and on the Insolvency Register, but you avoid bankruptcy, which for many who have property, could lose that property if they were to go bankrupt. […]

Today in UK Debt: 30/03/2022

Victims of Buy Now Pay Later BNPL is not a new thing, you can read more about it here. However, according to Experian, one of the UK’s credit bureaus, it can be a problem for some, in how it affects their credit score. Experian explains it all here. More Debt News and Advice Rightsnet has […]

Is Bankruptcy The End Of The Credit Line?

One of the first things someone thinks of when they are in major debt and need to get out of debt as they can no longer afford to repay those debts is Bankruptcy. However, there are other options as well, such as an IVA/Individual Voluntary Arrangement, or possible a DRO/Debt Relief Order. In fact, depending […]

I Think I Need To Go Bankrupt

Question I believe I need to go bankrupt. I have done some research on your web site, and also on others. I owe £50,000 plus from a failed business, I have no real assets in my name, I live with my partner, and he is not on any of the loans, and I am not […]

I Need Advice On What To Do With My Credit Card Debt

Question Jon, I owe a lot of money, over £15,000 and it is all on credit cards. I just kept taking card after card out and using them to their limit spending mostly online. I had deliveries almost everyday for a long time. My flat looks great, and I have more than I need, but […]

Should I Go Bankrupt or Do An IVA?

We can throw a third option in this mix as well which is a Debt Relief Order or DRO. All three (3) are forms of insolvency, and as such involve third parties, such as the courts, or Insolvency Practitioners. When faced with insolvency, you may ask yourself which is the better option, Bankruptcy, an IVA, […]

Favouring a Creditor If You Are In Debt

When someone is in debt, it is usually to more than one creditor. While it may not always be the case, usually when in debt it is to multiple creditors, and multiple accounts. Some of these accounts, like a bank overdraft, or a first credit card, seem to have some sentimental value to us. It […]

How Can I Get All My Accounts Settled At The Same Time?

Question Jon, My situation is a bit complicated, so I will give you some background details, and also explain what I hope to do. I have in total £30,000 of debts that are in just my name, or the account were taken out for my LTD company, but I signed as guarantor. So I know […]

I Need To Go Bankrupt But Have Equity In My Property

Question Jon, I am going bankrupt due to owing in excess of £150,000 for loans I guaranteed for a company. The company has ceased trading and entered into Administration, but I am liable for the loans as guarantor. My wife and I own a property together that is valued at £200,000, but we still have […]