Monthly Archives: July 2011

In a DMP but have a new payday loan what should I do?

There are options if you are in a DMP but have taken a new payday loan. Can you pay the loan? Can the debt be added to your DMP? Is a DMP still right for you?

Footballer Colin Hendry writes off £2m debt in Bankruptcy

Former Scotland and Blackburn Rovers captain Colin Hendry has been discharged from his bankruptcy and will only have to pay back £36,000 of a £2.1 million debt.

Is Bankruptcy private?

Bankruptcy is not a private solution. Is it published in the newspaper? Where is it recorded? Is anyone told? Is this a good reason not to go bankrupt?

Must equity be released from partner’s property in an IVA?

The equity in your partner’s property is not normally at risk if you start an IVA. What if you have an interest in the property? Can you give up your interest?

Can mortgage arrears be included in a DMP?

Mortgage arrears cannot normally be included in a DMP. How can a DMP help repay mortgage arrears? What if your home has already been repossessed?