Advice needed on possible bankruptcy

Ole20_2

if i apply for a date will my creditors know?? i wish to make this months mortgage payment before declaring myself bankrupt and was hoping to be organised and declared bankrupt with my new account setup right in order to pay it next month..if this isnt likely what is the best way to pay priority creditors whilst the process of BR is going thru??

82% of my way through the forms..didnt sleep last night..they make you very nervous.....

thanks again...

for reference my cccs forms say i should be bankrupt..my total income with rent are 2300 and my outgoings 2180..this is inclusive of money from parents which i dont enevisage receiving for much longer...im just worried if i get rejected!!

Ole20_2

sorry fellow forumers...i cant stop thinking so have to keep logging on to ask

can someone explain a typical process and time line for going BR/......i presume get soa ready and apply for court date?? i then turn up for court with docs and process and if succesful speak to or who then will contact me to sort...

how in the meantime do i pay my priority debts?? should i write a letter saying im going BR but will continue to pay them? will the BR do this? should i stop paying bills and tell my creditors im going br whilst i wait for the date but still pay mt priority creditirs?? sorry to keep asking help much appreciated

tigerfeet2006

Your creditors won't know you have booked to go BR. If I were you I would ring up on Monday and get a date booked as some courts are now booking for the end of September. You don't have to tell anyone you are going BR. Just pay the priority bills as you normally would, no need to tell them anything. If you owe anything on your electric or gas they may require you go on a metre after you go BR. If your account is fairly stable now with no OD then I would ask the court for an appointment after your DD's have all gone out and before your wage goes in. If this is not possible then if you open a cashminder and set up your DD's from it and high light that account to the OR as the one you have set up to go BR. He should express that he has no interest in it to the bank. If it gets frozen then the OR will fax them to release it.

If you are going BR then you can stop paying your debts but be aware that you will be deluged with letters and calls. But you are wasting money paying them when you are going BR. Don't tell them you are going BR as they will up the hassle factor in the bid to get you to pay them as much as possible before you go BR.

You go to court with your petition, are declared BR, speak to the OR briefly, The OR will send you an appointment for a longer talk and an envelope for you to send the paperwork he asks for.This will either be on the phone or face to face. interview.

Hope some of that helps.

Ole20_2

tigerfeet again many thanks..so in summary...

ring court and tell them i wish to petition for bankruptcy?? make sure that by the required date i have the paperwork complete and fee available???

in the meantime set up a coop cashminder account...if likely to be over a month till court date get wages and priority bills transferred to this account...explain on notice of BR this is what this account is for and try to get unfroze?

im not planning on paying non priority bills so ignore them as best as poss until br is official??

thanks again..just a bit nervous and want to make sure i know whre i am

thanks

tigerfeet2006

In a nutshell yep!

You are doing really well so don't panic.

Ole20_2

im a stresshead at the best of times..nevermind during this! im wondering if this may cure my psoriasis hahaa..thanks for all the prompt advice..ill put my soa on now...cccs said id be declared bankrupt im just nervous in case im not...i see so many people with worse cases than me and just wonder....

Ole20_2

Your Budget

The figures in this budget are based on those supplied by you during the preparation of your Debt Remedy.

Your Income Amount

Your take home pay £1,500
Your partner's take home pay
Rent/board received £500
Pension received
Any other income received
Income Support
Jobseekers Allowance

Your Income Amount

Incapacity Benefit
Disability Living Allowance
Working Tax Credit
Child Benefit
Child Tax Credit
Child Support

Total income £2,000

Housing Amount Comment

Rent
Mortgage £693
Secured loans/2nd mortgage
Mortgage endowment premium
Service charge/ground rent
Water £44
Council tax £100
Gas £100
Electricity £77
Other household fuel

Household services

Building and contents insurance
Telephone, mobile & internet £33
TV licence £12
Satellite £21
Repairs and maintenance
Household appliance rental
Child maintenance £150
Childcare
Fines, CCJs, Decrees
Life insurance/pensions
Medical/accident insurance
Hire purchase

Transport

Vehicle spares and servicing £10
Road tax
Motor insurance
Vehicle breakdown cover
Fuel & parking £380 Client has 60 mile daily round trip to work
Public Transport

Food & housekeeping

Food, toiletries, cleaning £165
School meals/meals at work £35
Pets, pet food/insurance
Tobacco

Misc. goods & services

School trips/activities
Medicines/prescriptions £10
Dentist/opticians £20
Hairdressing £10
Union/professional fees
Laundry/dry cleaning
Education fees

Personal & leisure

Clothing & footwear £23
Newspapers/magazines
Sports, hobbies, entertainment £10
Children's pocket money
Church/charity donations

Sundries/emergencies/other costs

Sundries/emergencies £10
Loan from family/friend £130 Total Owed £7500
Other

Total expenses £1,973

Additional information Comment

No of adults 3
Dependants 0

Totals Amount

Total income £2,000
Total expenses £2,033
Surplus (Deficit) £-33

Ole20_2

rent board should read 650..

Ole20_2

and fuel should be 380 but it wont let me change without redoing it...

peachyprice

Ole, it's very rare for a judge to refuse BR, it's usually if you have assets that outweight your debts, for example if you had a house with 100k equity and your debts were 60k, the judge would refuse BR as you would be expected to sell your house to service your debts. If you haven't taken advise from a debt charity or similar the judge can also refuse to make you BR, but a lot of judges don't even ask this.

I'm sure you will be fine, good luck for the morning, I promise this time tomorrow you'll be wondering what all the stress was about.