My PPI claim had been sent to the Receiver as but I was discharged from bankruptcy 2007. Do I have to payment Third party acting on my behalf

If you have engaged a no win no fee service to manage the process of a PPI Reclaim for you then you would almost certainly have signed terms of business agreeing to pay their fees if successful.

If you have started the process and suddenly realised that you are not going to receive the monies because the Official Receiver is claiming the monies because they formed part of the asset when you went into bankruptcy then maybe it would be a good idea to ask the reclaim company to get their fees from the Official Receiver. They may try this and if they are not successful then they may try to pursue you for the fees. We come across this situation a lot and its a grey area because the Insolvency Service will generally try to grab these monies but the reality is that in 2007 when you went bankrupt nobody was aware of PPI and generally there is or was no mechanism in place to pass the right of an action over to you. The other major point to remember is that the Insolvency service would probably not have pursued a claim on your behalf and there are 10′s of thousands of former bankrupts sat on significant claims that will never be gained as they do not generally have the resources to dig files out of archive and pursue these claims.

I have just had a ppi payment sent to the insolvency practitioner is this right it’s over six years since I was made bankrupt

Yes it is absolutely correct although you have been unlucky as some banks have made the payments directly to the clients. The reason it is correct is that these are realisations that are borne from the debts that you had pre bankruptcy. The mistake like you and may others have made is that you should have applied for a right of action and purchased it from The Insolvency Service but not a lot of people know this.

Hello, i work as a midwife but have been experiencing difficulties for sometime now and think it maybe better to go bankrupt as i have so many debts to pay, but am really nervous about lthe possibility of losing my job but the debt just keeps mounting.

I am in a debt management plan but the interest on payday loans keeps mounting i would be grateful of some advice please. Regards Lynne

We would be pleased to speak to you about varying options that are going to suit you better. Are you able to call us directly on 0800 5977977 or 07894481175

Will i lose my job in the nhs as a clerical officer if I file for bankruptcy? I am worried that I will lose my job but I really need to consider bankruptcy as a fresh start as I can’t see my way out of debt?


This shouldn’t make any difference to your join unless you have an employment contract with express terms regarding going bankrupt.

Your main problem will be you and telling people about the bankruptcy. The best thing to do would be to deal with a bankruptcy if thats what you need to do and forget it and carry on with your life without the burden of debt. You don’t need to talk about it or confide in people about it. Just get it done and get on with it would be my recommendation if you sure that bankruptcy is the right move for you will be to just keep it to yourself and look at it like a little mosquito opposed to some massive challenging obstacle.

Good day. I have been living here in Glasgow (Scotland) for 1.5 years. Came form Lithuania (EU), where I had mortgage. Contract with the bank already had been stopped, the house was sold, but… the remaining debt are very big – more then 100.000 eur. Would it be possible to run a bankruptcy process? I’m working but still have JobSeeker status. My family – 2 children (5 and 7 years old) and young person aged 18. Thank You. PS I would appreciate, if you would send me your answer or questions by email.

You can do all the things that you want but there is obviously a process to follow. You will need to contact The Accountant in Bankruptcy for Scotland Cases as we do not find it practical to extend our services to Scotland.

Before bankruptcy we had 2 properties. Both me and my wife names were on them. We used one to raise capital to help fund a new business in 2007. we both signed an agreement. Business closedi in 2011 and i was made bankrupt in the same year. My wife was not made bankrupt just me her name was not on the business. My question is my interest in the 2 property has been removed by the receiver. How does this affect my wife as her name is on the property still and the property is in negative equity by some 60k.

Well your half share has been taken over by the Receiver. Which essentially means that your wife has a joint mortgage with the official receiver now and not you. the Official Receiver has 3 years in which to realise any claim against the property and would probably hope that your wife continues paying the mortgage and the property goes up in value. If it remains that there is absolutely no equity in the house then your wife can make an application to acquire the beneficial interest in the property. You can actually do this as well. The big question is going to be what are you going to do with the property which you say is in negative equity. As you may be throwing good money after bad just to hold onto a mortgage.

You should both have a financial review in order that you don’t drift off into the future without giving due consideration for the future.

I have  my flat and a bankruptcy is imminent.

What happens to the negative equity if my flat doesn’t sell?

Is this now going to hang over me, and come back on me down the line?

No Not at all..The first thing we really need to establish is whether or not it is worth trying to save your flat from reposession. If it simply isn’t an option and you are absolutely sure that want to take the bankruptcy route and have a fresh start, then all debts connected to this property will go into the bankruptcy. After bankruptcy you will have a fresh start and a new beginning.

will bankruptcy stop council tax bailiffs?

Yes…Only if you have received a liability order. You cannot use bankruptcy to clear future debts like council tax. The only future debts that you can put into bankruptcy are foreseeable debts such as a shortfall on a mortgage occurring when the property is subsequently sold.


If the bailiffs are involved then this is generally because a liability order has been granted.



Hello, I filed for Bankruptcy in 2007, but have never received a Discharge Notice. How do I apply for one please? I do still have the original papers, because I was told I would have to wait 7 years to apply for a discharge, but is this no longer the case? Thank you, Jane Walsh

Dear Jane

You will have been automatically discharged but if you are looking for a bankruptcy discharge certificate then you will need to apply for one in the local county court where you had your bankruptcy.

Some time has passed now and there may well be some other things that we can asset you with in order that you have a fresh financial review with some objectives contained within it. We understand that a lot of people who enter the debt trap find it very difficult to make good progress. We are all about trying to assist clients where we can.

I have just read your paragraph on interest only mortgages.

I am not sure the exact date we took out a £200,000 interest only mortage but the circumstances meet all the criterea you describe.

It was self certified, took me beyond the age of retirement and also was a “drive by valuation!!)

As a result we had to eventually go into bankruptcy our house has been sold by the Administrators and of course the mortgage has been cleared.

We didn’t cover the remaining creditors.

My question is can I still reclaim a missold mortgage and shouldn’t the Administartors been aware of this?

We were also sold a mortgage again through a broker which was repayment which ultimately cost us more than we borrowed.

Is there any come back on them?

Clearly thesed are more complex than I can expain here so if there is any mileage in my request.

I am currently in Spain and the signal is bad so if you could indicate by email whether there is a possibility of reclaimation maybe I could phone you . Regards Mike Robins

Dear Mike

The good news is that we can certainly have  a look at it for you and perhaps be able to assist you further with your future plans and objectives. We are currently going through the process off affiliation as Master Financial Advisors and we are going to set up our own legal team to take on these cases against the FCOS that are currently holding firm against other Law Firms that are issuing high levels of claims against them for exactly this type of thing.

I think it would be good to start with a client fact find and will keep you informed of when we will actually be starting the process for you. One of the things we will have to seek from the Official Receiver is an application for a Right of Action in order that you can benefit from a successful claim and so the Official Receiver doesn’t claim it as an pre bankruptcy asset.


We can make this application for you.

I am currently in an IVA and am struggling. due to my circumstances I have been advised that going bankrupt may be an option. my only concern is losing my house, car and job. one of the debts is jointly owned and the mortagage is in joint names. however, my ex has not contributed since 2008 and has no interest in the property. can you please advise and the cost ??


In the same way that a financial planner would create a total snap shot of your financial circumstances, we will break down into sections for you the cause and affect of any actions or options you can apply to your circumstances.

If things have got this much out of shape and everything you have tried hasn’t worked then we simply need to adjust whats going on. As experienced experts in this field we are confident that we will be able to help you.

Bankruptcy Information UK

Welcome to Established 1998 We have been helping people with complex personal and commercial debt problems. We believe that we are different to other debt solution businesses as we offer a firm but understanding approach to the most complex of circumstances opposed to other organisations whose primary focus is to sell you into a debt management plan or IVA Individual voluntary arrangement.

Our experience tells us that when we receive a call from someone looking for more help or assistance, then we have to firstly get a snap shot of what is going on in the background in order that we can quickly obtain an accurate view of who you are and what it is that is creating the problem. We know and understand only too well the way that debt problems can make a person feel and we will seek to get onto the same page as you within the first few minutes of an initial conversation. Ultimately you need to know and understand that we can provide you with the level of assistance required. It is also crucial that you feel that your circumstances are understood by whoever you are speaking to.

After we have confirmed your contact details then the initial primary focus is to understand:

1. What you have got going on around you
2. Examine the options that are feasibly available to you
3. Identify the trigger points as to how you have ended up in the position that you are in.
4. See if there is any chances or claiming any monies back from creditors or loan providers where you may have a legitimate claim for mis sold mortgage or PPI that may have been applied to any loans or credit facilities that yo have ever taken out on the past.

2013 has been a year of speaking to people that have absolutely no idea that there was/is monies available to claim back. These monies are often substantial and make the bottom line look very different. Although it is not always possible for a claim to be looked at as a solution. It is certainly an option that has to be considered.

The options are as follows:

Do Nothing- Wait and see what happens, knowing that if you take this option the situation may simply go away, or something could happen to change the landscape of your debt situation, such as a windfall or additional household income.

Personal Bankruptcy- This option should be considered first of all in our opinion with higher debt values. If you have no assets to speak of, and you have a job or career that will not be affected by a bankruptcy order, and you cannot see any opportunities coming up that are likely to enable you to manage your debts, then a bankruptcy could be a good option for you. Especially for all those people that have struggled with a debt management plan or individual voluntary arrangement.

IVA (individual Voluntary Arrangement) These are much better than they used to be. The reality is today that if you have a minimum debt level of £7k plus and a disposable income of £80 a month then you are able to apply for an IVA. An IVA is a legal agreement between you and your creditors, put together by a licensed Insolvency Practitioner or Chartered Accountant that practices in insolvency. Your creditors are made an offer which is based on your income abilities to repay an amount of money over a 5 year period. Providing 75% of the total amount of debt agrees to the proposal being made then the remaining 25% are committed to agree to the arrangement. These arrangements usually run over a 5 year period. It is fair to say that you can look at an IVA like an interest free loan payable monthly over 5 years. The only problem is that if your income increases or you have any changes to your circumstances then you will have to pay more into the arrangement. We often find that an IVA can be used to get creditors under control and all standing in line. Once this has taken place it is quite feasible for a debtor to make an offer to creditors which is equivalent in fiscal value by a 3rd party who will make a one off payment to clear the IVA.

Debt management Plans- These are very effective in signalling to your creditors that you are in difficulty. The Debt Management provider will contact all of your creditors requesting that interest is frozen on the accounts and for our creditors to be made aware that something has happened but you have taken action to do your best to manage your debts. The debt management plan is not recorded anywhere. Unlike an IVA which is a legal agreement, stamped by the court and recorded on the insolvency register. This last for 5 years. In our modest opinion we would say that a Debt Management Plan is a good short term solution which doesn’t affect any assets that you have such as a car of finance or a property that you own. It is a good way of managing creditors until you are in a position to apply something a little more solid. A lot of homeowners choose a Debt Management plan over an IVA purely because they will not be restricted from selling a property, unlike a bankruptcy or IVA where you will need authority from their legal department to sell.

So these are the options apart from specialist negotiation which is often required when the trust has been breached between creditor and debtor. Sometimes a creditor can apply hostile approaches towards a debtor simply because they are fed up with trying to deal with them.
We can assist in matters like this but costs will apply and you will need to complete the 3rd Party authority in which you will be enabling an officer of to speak on your behalf.