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  • FIRST POST
    • Jojopa123
    • By Jojopa123 22nd Sep 16, 12:05 PM
    • 4Posts
    • 0Thanks
    Jojopa123
    Bankruptcy and official receiver
    • #1
    • 22nd Sep 16, 12:05 PM
    Bankruptcy and official receiver 22nd Sep 16 at 12:05 PM
    Hi after trying everything i jave deceided to go bankrupt im currently on maternity. My hubby has no financial link to me and i have no assets and all the debt ia in mh name about 47 grand after morthage shortfall i have also.been paying payplan dor my othet unsexured debt. My issue is im.crapping myself at the offical receiver im stresdting out to bits. What if she thinks im irreaponaoble or my spending is dishonest from bank statment im a proper worrier. I have never spent then mre than 100 on shoppong and have always tried to oah my debts but now with lower wage my family expanding ans now this shortfalls its out of control

    Thanks

    Jo
Page 1
    • Muttipops
    • By Muttipops 22nd Sep 16, 1:11 PM
    • 245 Posts
    • 226 Thanks
    Muttipops
    • #2
    • 22nd Sep 16, 1:11 PM
    • #2
    • 22nd Sep 16, 1:11 PM
    Jo,
    Have you contacted any of the debt advisers like the National Debtline or StepChange for advice, as I think you should if you haven't; you need to make absolute sure that bankruptcy is the only way out of this and with little info from you on here, it is difficult to tell. https://www.nationaldebtline.org/ or https://www.stepchange.org/
    If you already have or if you have done a lot of looking into this and made an informed decision, and this is a decision made, don't worry about the Official Receiver; as long as you have been honest, things will be OK. You can apply for bankruptcy even if gambling or alcoholism is at the root of it, they will not condemn you, the OR is not out to Judge you, but in those cases or in cases of reckless spending like buying 10 grand of clothes when you have £1 in the bank, they will look at things more closely and you may have some extra conditions to fulfill, but do not worry about that, if it is just spending on bills and debt; you are allowed to have a life.


    Here is a link to a very good guide to bankruptcy with lots of questions answered on there for you......http://debtcamel.co.uk/debt-options/guide-to-bankruptcy/


    As for the OR, once you have completed your application and if it is approved, you then have an interview with the OR, usually on the Phone and you will have a chance to explain your debt problems and how you have reached the point of bankruptcy being the only option to solve your debts.
    Last edited by Muttipops; 22-09-2016 at 1:15 PM.
    • MrPrickly
    • By MrPrickly 23rd Sep 16, 6:24 PM
    • 2 Posts
    • 0 Thanks
    MrPrickly
    • #3
    • 23rd Sep 16, 6:24 PM
    • #3
    • 23rd Sep 16, 6:24 PM
    I was panicking too but as you say, if you've never spent irresponsibly when you should've paid debts (and by that I mean a family holiday, new car etc NOT a trip to the cinema) then you should be fine.
    The OR has access to your start of month finances for the last several years and will be able to see if you've had any big jumps in debt and if so will ask why.

    Good luck
    Last edited by MrPrickly; 23-09-2016 at 6:37 PM.
    • Jojopa123
    • By Jojopa123 26th Sep 16, 12:20 PM
    • 4 Posts
    • 0 Thanks
    Jojopa123
    • #4
    • 26th Sep 16, 12:20 PM
    • #4
    • 26th Sep 16, 12:20 PM
    Hi

    Many thanks for your reply. I was on a dmp but since getting this 28 grand shortfall in mortgage and being on maternity leave my life has cha ged dramatically. I wont lie i have had a few loans like 200 loans in shortfall of wages etc and may have soent like money on xlothes like 50 quid i know thats irresponsible they will see i have struggled for yrs but did pay most of the time. I jave never bought anything big. How far do they go bck on your records and also i live with my hubby with have no finanical link nothing in joint names i got some advice and they sad they will take my hubbys income into consideration and use his surplus money i said rhey cant its his money. All the debt ia in my name only and i have no assets

    Any help would be good there is a lot of wrong advice out there x z
    • worriedmamma
    • By worriedmamma 26th Sep 16, 12:36 PM
    • 88 Posts
    • 26 Thanks
    worriedmamma
    • #5
    • 26th Sep 16, 12:36 PM
    • #5
    • 26th Sep 16, 12:36 PM
    hi

    I've recently applied for bankruptcy and am in a similar position, debts are mine before I even met my husband, his earnings cant be used for your debts. The only time his income comes into account is with regard to paying for your household bills and expenses, the OR may want to see his co tri ution towards the household.

    mine hasn't asked for this yet but I've been advised they probably will.
    • Jojopa123
    • By Jojopa123 26th Sep 16, 12:54 PM
    • 4 Posts
    • 0 Thanks
    Jojopa123
    • #6
    • 26th Sep 16, 12:54 PM
    • #6
    • 26th Sep 16, 12:54 PM
    Thanks for that im currently on maternity so i get 550 a month will rhey just take a percentage of that towards household bills towards his income and say i have this surplus out of mine i have to oay back. They cant take his surplus money can they and willthey take into account i have to pay for some living expenses out of my maternity
    • worriedmamma
    • By worriedmamma 26th Sep 16, 1:11 PM
    • 88 Posts
    • 26 Thanks
    worriedmamma
    • #7
    • 26th Sep 16, 1:11 PM
    • #7
    • 26th Sep 16, 1:11 PM
    Yes of course. Its my belief that they cant ask for any payments towards an IPA from any benefits, is your maternity pay SMP or MA? Not sure if it makes a difference.

    its worth speaking to National Debtline or StepChange, they can also advise what sort of expenses you need to allow for - things like clothing and footwear for children, opticians, school trips, mobile phone, internet etc. The OR will expect these sort of expenses and its useful to work out exactly what you spend your money on which they can go through with you.
    Last edited by worriedmamma; 26-09-2016 at 1:12 PM. Reason: sent too soon
    • tigerfeet2006
    • By tigerfeet2006 26th Sep 16, 1:50 PM
    • 13,678 Posts
    • 29,764 Thanks
    tigerfeet2006
    • #8
    • 26th Sep 16, 1:50 PM
    • #8
    • 26th Sep 16, 1:50 PM
    As WorriedMama says you will be able to pay your normal living expenses. On £500 a month the OR will not look to take an IPA.The OR expects that you pay a fair amount to the household expenses. The only reason they look at your OH's income is to make sure he is paying a fair amount to and because he will be paying more than you, he is paying a fair amount.

    None of the spending you have indicated is excessive and is normal in the day to day way of things.

    Please speak to National Debtline or Stepchange and get your mind set at rest.
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  • National Debtline
    • #9
    • 26th Sep 16, 4:02 PM
    • #9
    • 26th Sep 16, 4:02 PM
    Hi Jojopa123 and welcome to the forum.


    It's understandable that you are contemplating bankruptcy. Mortgage shortfall debts can often tip people over the edge as they can involve huge sums of money.


    There's nothing you have said so far about your debts, spending patterns or domestic arrangements that would make me particularly worried or cautious about bankruptcy. The folks above have given good explanations of why your husband's expenses would be looked at, nothing sinister really.


    Please note that even though I have posted here, it is still worth phoning a service like ours or Stepchange so that an adviser can go through the whole picture with you.


    Good luck whatever you decide to do.


    Dennis
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
    • Jojopa123
    • By Jojopa123 26th Sep 16, 5:19 PM
    • 4 Posts
    • 0 Thanks
    Jojopa123
    Hi denis at national debtline. Can i just confirm what is my husbands money and his surplus is his money and wont be taken into consideration? I dont know if he would give them bank ststments can they force him? Im worried as like i spent 30 in new look the other day and had some.juice plus money cominfnout but its mostly for my mam. Also i been paying a small loan back it was 400 pounds i needed it and got it before my shortfall came in and is finished next month.

    Thanks

    Jo
  • National Debtline
    Hi again Jojopa


    I've broken your post down into separate questions below.


    Hi denis at national debtline. Can i just confirm what is my husbands money and his surplus is his money and wont be taken into consideration? I dont know if he would give them bank ststments can they force him?
    Originally posted by Jojopa123

    The Official Receiver (OR) won't know how much you should be reasonably spending to cover your share of household bills unless they know what your partner earns too. They need this info so they can be sure that you are only paying your fair share of bills and nothing more. That's all there is to it.


    Im worried as like i spent 30 in new look the other day and had some.juice plus money cominfnout but its mostly for my mam.
    Originally posted by Jojopa123

    I'm sorry, I didn't understand the "juice plus" bit - was that a typo? I can't speak for the OR who would deal with your bankruptcy, but they are unlikely to make a song and dance over small outgoings here and there, especially if they're for everyday things like clothing. If you're buying things for your mum, however, that would probably need to stop as it wouldn't normally be classed as essential spending.


    Also i been paying a small loan back it was 400 pounds i needed it and got it before my shortfall came in and is finished next month.
    Originally posted by Jojopa123

    Who is this loan from, please? Not that I think it would cause major problems for a bankruptcy, but there isn't really much point in you paying back one particular debt over all your others, as they would all end up getting written off anyway.

    Dennis
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
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