Br Heeeeeeeeelllllllllllllppppp!!

skylight

Hi Hally - most of us here are at some stage of BR. From like you and thinking about it to all the way through to discharged ones.

There is a wealth of experience on here but our first concern is always that you have been advised correctly - too many people arrive here having been badly advised or mis-sold IVAs and many are scared witless thinking that they are off to prison. People prey on the vulnerable and look to exploit us - no-one here can tell you what to do, BR is the biggest, life changing decision you will make so it has to be made on your own. Its why we drone on about talking to a charity company that is not out to make money from you for their own gain!

hally01

Thank you that's great advise: I've just got a few questions if you can help?

Ideally we would want to do this tomorrow in order to get out of the debt, however we have been told (by someone who wouldn't gain out of giving the advise) that you must have been unable to pay your creditors for 3 months before you can file for bankruptcy. This seems odd, can anyone confirm if this is correct?

The other concern we have is whether there is a possibility the OR will want to take my husbands motorbike (used for daily commute, worth £1500). Is this possible? Or is it too insignificant?

We've already started the process of setting up a new Nationwide flex account. Should we start transfer direct debits for council tax, TV license, rent from now or after we meet with OR?

Thank you so much if you can help?

skylight

Not sure about your first question as I do not know. It does not seem unreasonable as if you can pay and are not in arrears with your debts you are technically not insolvent, surely?? (Not knowing about your personal circumstances obviously!)

The motorbike may well go. Depends on whether another cheaper vehicle is available (you own another etc?), value, and if the OR is in a good mood on the day. (Sorry - sometimes it really does come down to something like that).

Transfer all your direct debits and payments into your new account. Flex is the basic one with no overdraft, isn't it? Its unlikely to be frozen by the OR on court day if its the basic one. It should be done in advance so you are ready to go.

hally01

Thank you tiger lilly, it does seem strange.. we couldn't afford to pay it this month so completely missed it but it's possible we would be able to afford it next month so don't know whether to make ourselves skint by paying it..

thank you all for your advise..

Hal

d123

From other posts on here, Nationwide are not BR friendly and will freeze and then close any account when they hear of the bankruptcy.

The only banks still to allow accounts are Coop Cashminder and Barclays Basic.

d123

hally01 wrote: »

Thank you tiger lilly, it does seem strange.. we couldn't afford to pay it this month so completely missed it but it's possible we would be able to afford it next month so don't know whether to make ourselves skint by paying it..

thank you all for your advise..

Hal

If you have decided to go bankrupt, then any payments you make between now and BR day will just be wasted money.

As soon as you have decided that is your course of action, start saving the money for the BR fees.

lifesuckssometimes

d123 wrote: »

If you have decided to go bankrupt, then any payments you make between now and BR day will just be wasted money.

As soon as you have decided that is your course of action, start saving the money for the BR fees.

SPOT ON d123 :money:

Waspeze

Just to clarify something mentioned earlier.. The OR WILL notify your landlord regardless of whether you have arrears or not and regardless of whether you ask them not to (i know from first hand experience!).. however some OR's are responsive to a request not to notify and have been known to aquiesce (sp.) to the BR's request. All i'm saying is that just because you have no arrears do not automatically assume the OR won't notify your LandLord!

Saying that though, as has already been stated, most landlords don't care and as long as you are paying the rent then there isn't an issue