Help with bankruptcy forms...

Miss_Ratty

Hi All,

I'm filling out my forms in preparation for Friday, and there are a couple of bits that I'm stuck on (and the guidance forms don't seem to clear things up for me either!). These are the questions:

1.12 Involvement in separation proceedings in the last five years - does this include my partner I separatedfrom? We weren't married, I transferred the property to him (which I have detailled further on) but we weren't going through "proceedings", I was basically in a stalemate position so had to transfer.

3.1 Assets - How much "cash in hand" do you need to declare? I have a fiver in my purse! Cash in bank or building society - I have been advised to withdraw money up to my overdraft level if the OD is to be included in the BR, so do I list this, seeing as it would be minus figures? Money owed to you - my ex-flatmate owes me £271 but she ran off to Dubai, so I have pretty much no chance of getting that back. Pension - I have a local government pension that is taken out of my wages pre tax, so is this included or is it only private pension schemes?

3.2 Life insurance policies - I had one when I owned the house with my ex, but the policy was cancelled when the proparty was transferred, and I have no idea of policy number etc. Should I include it anyway?

3.4. Personal pension arrangements - Again, does my local government pension come into this? Or is it just private ones?

4. Unsecured creditors - Is this where I would just put my loan, and then put credit cards on the "bank accounts and credit cards" section?

5. Bank accounts and credit cards - my ex and I had a joint account, and I don't even know if its still about, as when I moved out I stopped all payments into it and threw the cards away (or at him more like!). Will they contact him to see if its still in my name as well, even though if it is, I have had no activity on it?

5.4 Bank accounts and credit cards - Do you put the balance on the day of BR, or the balance on the day you filled the forms out? If interest is calculated on a daily basis I don;t want to put innaccurate figurs down, or should I just put "on last statement, not accounting for interest/charges"?

6.10 Current attachement of earnings - Is this my local government pension and student loan?

7.1 Outgoings - How do they check this? Do I need to give them my direct debit details etc, or do they just look at it throughout the last year's bank statements?

8.2 - Properties you rent - please tell me this is the one i'm renting from my landlord, as I've already filled it in, and then thought "whoops, what if its for properties I rent out to someone else!"

9.1 Property transferred - I've put the details of the property transferred to my ex, but I didn't technically get any money back from it (I did get £1k to pay back half of the solicitors fees I paid - cheeky git seeing as I paid them all and he's living in the property!)

11.1 Difficulty paying your debts - I robbed Peter to pay Paul, so is this when I couldn't make my repayments (which was never as I'd put it on another card), when I wrote to them to say I was having difficulty, or when I realised that BR was my only option?

Sorry to blab on, I'm just getting really scared about it all now, and don't want to look like any more of an idiot than I already will on Friday

Also, what paperwork exactly is required then? Just copies of the forms, and do I give the OR all other details later?

Also, the IPO, how do they decide the %? It said on a sliding scale, is that just like "if we feel like it we'll make you pay 70% on disposable over £99" or is it set in stone? Also is it always 3 years you pay it for, or can they decide it will be shorter or longer than 3?

Thanks so much everyone, I'm feeling so confuddled right now, and I just want to get this week over with!

x

welshpaula

hiya dont worry please !! i am not proud of my bankruptcy but i had no choice and it was the best thing i did ! the only thing i can really advise you is the ipo ,i have been paying £30 a month for 2 and a half years now i had £100 disposable income and they decided i would pay £30 ,theindependant insolvency practioner we saw(for advice) was gobsmacked they took anything at all from me but there we are thats life ! the judge wanted to see me as well and called me in to court(apparently they dont often call you in ) i s**t myself but how wrong can you be he was bloody lovely and fully understood my position !!! so dont worry honest once the paperworks sorted and the hearing done you will be fine !good luck paula x

Miss_Ratty

Thanks so much for the reassurance! I'm worried that they'll look and see that without obscene amounts coming out of my account that they'll take most of my leftovers too, or even refuse the BR, even though I couldn't have an IVA becuase i didn't have enough going to the creditors per pound. Can they do that? Just say, nope, you have been stupid and you'll have to work something out. I sought advice, so I know I've been refused everything else, but it just worries me! I can't wait to get friday over with. I'm in court at 9.15, then have a funeral to go to, so I think I will need a stiff drink after both!!!

Many thanks, Claire (also Welshie!)

dalip

Miss_Ratty wrote: »

Hi All,

I'm filling out my forms in preparation for Friday, and there are a couple of bits that I'm stuck on (and the guidance forms don't seem to clear things up for me either!). These are the questions:

1.12 Involvement in separation proceedings in the last five years - does this include my partner I separatedfrom? We weren't married, I transferred the property to him (which I have detailled further on) but we weren't going through "proceedings", I was basically in a stalemate position so had to transfer. yes as there is then a box to fill in which states give details of settlements whether formal or informal,here put the house transfer

3.1 Assets - How much "cash in hand" do you need to declare? I have a fiver in my purse!put nil Cash in bank or building society - I have been advised to withdraw money up to my overdraft level if the OD is to be included in the BR, so do I list this, seeing as it would be minus figures?put down what it will be on the day you go bc Money owed to you - my ex-flatmate owes me £271 but she ran off to Dubai, so I have pretty much no chance of getting that back.dont mention it Pension - I have a local government pension that is taken out of my wages pre tax, so is this included or is it only private pension schemes?only personal pensions

3.2 Life insurance policies - I had one when I owned the house with my ex, but the policy was cancelled when the proparty was transferred, and I have no idea of policy number etc. Should I include it anyway?if there is value to it then yes,

3.4. Personal pension arrangements - Again, does my local government pension come into this? Or is it just private ones?just personal

4. Unsecured creditors - Is this where I would just put my loan, and then put credit cards on the "bank accounts and credit cards" section?you list all unsecured creditors,then if any are cc or bamk accounts you repeat them in section 5

5. Bank accounts and credit cards - my ex and I had a joint account, and I don't even know if its still about, as when I moved out I stopped all payments into it and threw the cards away (or at him more like!). Will they contact him to see if its still in my name as well, even though if it is, I have had no activity on it?if it was in the last 2 years then you have to list it,your ex would have needed your permission to take your name off it so i would list it.

5.4 Bank accounts and credit cards - Do you put the balance on the day of BR, or the balance on the day you filled the forms out? If interest is calculated on a daily basis I don;t want to put innaccurate figurs down, or should I just put "on last statement, not accounting for interest/charges"?just the balance as you know it

6.10 Current attachement of earnings - Is this my local government pension and student loan?no this is for court payments ,maintainance ect

7.1 Outgoings - How do they check this? Do I need to give them my direct debit details etc, or do they just look at it throughout the last year's bank statements? they rely on you being honest up to a point,if your outgoings are excessive they may ask for proof.

8.2 - Properties you rent - please tell me this is the one i'm renting from my landlord, as I've already filled it in, and then thought "whoops, what if its for properties I rent out to someone else!"no put your details down as it asks for the name and address of the LL

9.1 Property transferred - I've put the details of the property transferred to my ex, but I didn't technically get any money back from it (I did get £1k to pay back half of the solicitors fees I paid - cheeky git seeing as I paid them all and he's living in the property!)it refers to a large settlement for tranferring property over,i think

11.1 Difficulty paying your debts - I robbed Peter to pay Paul, so is this when I couldn't make my repayments (which was never as I'd put it on another card), when I wrote to them to say I was having difficulty, or when I realised that BR was my only option?when you started to have diffaculty paying them.

Sorry to blab on, I'm just getting really scared about it all now, and don't want to look like any more of an idiot than I already will on Friday

Also, what paperwork exactly is required then? Just copies of the forms, and do I give the OR all other details later?All you need for court is 3 copies of your SOA

Also, the IPO, how do they decide the %? It said on a sliding scale, is that just like "if we feel like it we'll make you pay 70% on disposable over £99" or is it set in stone? Also is it always 3 years you pay it for, or can they decide it will be shorter or longer than 3?it is based up to a point on goverment figures and it is on a sliding scale of 50% -70%. The IPA runs for 36mth from first payment but can be suspended,altered(up or down)or dissolved at any time during those 36 mths if your income changes

Thanks so much everyone, I'm feeling so confuddled right now, and I just want to get this week over with!

x

I am by no means an expert but hope this has helped a little ratty. Anymore questions just shout. Off to work now but will chek when i get home. Good luck.D

Waspeze

Just to add.. the IPA is calculated on ALL excess income (after reasonable expenses have been deducted) .. not just that over £99.
The £99 is just used to calculate whether an IPA will be implimented or not.. e.g. if you have £50 excess you will not get an IPA whereas if you have £100 excess you will have an IPA based on 50% of £100 so your IPA will be £50 (not 50% of £100-£99)


Edit: Here's the percentages


£100 to £240 - 50%
£250 to £340 - 60%
£350 to £490 - 66%
£500 to £600 - 70%

Miss_Ratty

Thanks so much, that cleared everything up for me! Maths is not my strong point

I've read about some people getting charged £30 on £100 disposable, can they alter the %s or does it always have to be what the government guidelines are? I have this fear that they will just take one look at me and take all my disposable because I've been so foolish! I guess I'm just getting worried about Friday. I'm now wondering what to do with my mobile phone, as I only renewed my contract about four months ago, and my flat charge is £45 per month. If I call them and tell them I'm going BR, they will probably want to cancel my contract and I'll lose the phone. I'm looking into PAYG at the moment, as my current provider has scr**ed me in the past, and I can't afford for them to do it again (they made loads of mistakes with my billing and contract which has meant i've paid loads more than I should have).

tigerfeet2006

MissR, no the OR has to follow the guide lines so don't panic.

Waspeze

And remember there is no point the OR slapping a huge IPA on you which you can't pay and which will just end up with you getting more into debt... the whole reason the allowances etc in BR are slightly more than DMP's etc are to avoid getting caught up in the vicious cycle of debt again!

welshpaula

hi claire i kept my mobile phone contract , OR wasnt interested although it was £30 a month ,didnt tell o2 i was bankrupt either and have had no problems at all ,2 and a half years on ok ! paula x ps thats what myself and my bf did after my hearing went and had a few drinks ! YOU WILL BE FINE !!

skylight

I think that you should put down your pension anyway as it is going to appear on your I&E as an expenditure isn't? The OR will wonder why you are paying into a pension but not declaring one.

As its a government approved scheme they cannot touch it, so don't worry there, but I would definitely mention it to avoid confusion at any point.