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Look here first - Bankruptcy Help: Important topics, factsheets and links
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Link doesn't work.
http://www.nidirect.gov.uk/index/contacts/contacts-az/insolvency-service.htm
http://www.detini.gov.uk/deti-insolvency-index.htmWe all die. The goal isn't to live forever, the goal is to create something that will0 -
hi, ive been reading this forum on and off for some time now and really had my mind put at ease.. definately going to go bankrupt
do i have to stand up in front of loads of people in court, i do not have any assets
what exactly happens in the first year, do i just pay priority bills as normal or does the or do it,,what happens to wages or benefits
i have a company car,,will that have to go
will i need to close my bank even though i have no debt with them and only have visa electron card with no cheque book or over draft
myself and hubby are going bankrupt but do we have to do it all seperate and have seperate meetings
many thanks in advance for any info offered0 -
Added:
Urgent news on IPA's - Changes for BRs after 01/12/2010
Dealing with property interests from 1st Jan 2011 ---> Discussion threadFree/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
Hi and welcome to the board.hi, ive been reading this forum on and off for some time now and really had my mind put at ease.. definately going to go bankrupt Have you spoken to any of the debt charities in my sig? If not then this really is your first priority. Your BR could be refused if you don't.
do i have to stand up in front of loads of people in court, i do not have any assets No. You go to court, you see a clerk who deals with everything, you may or may not see a judge, if you do it will be in an office with him sat at a desk in a suit. They are for the most part human and understanding about the situation.
what exactly happens in the first year, do i just pay priority bills as normal or does the or do it,,what happens to wages or benefits The OR has no control over your finances after your BR. You produce an SoA which shows him that you can survive after BR and can pay the essential bills and he will leave you to it. If you have a surplus then this will be paid to the OR's representative. Your wages and benefits get paid to you as normal.
i have a company car,,will that have to go The car doesn't belong to you it belongs to the company so you will be able to carry on using it.
will i need to close my bank even though i have no debt with them and only have visa electron card with no cheque book or over draft. There are only 2 banks that will except BR's as customers. These are the Co-op with their Cashminder account and Barclays Cash account. Open the account before BR and get your finances sorted.
myself and hubby are going bankrupt but do we have to do it all seperate and have seperate meetings You will have to fill out 2 seperate forms and pay 2 lots of fees. The clerk usually is quite nice and will let you go in together as will the judge. When you have your phone interview one will go first and then the other. You won't be able to speak for each other.
many thanks in advance for any info offered
Have a good Christmas and keep reading and asking questions, though it will probably be best if you start your own thread and more people will see it.BSCno.87The only stupid question is an unasked oneLoving life as a Kernow Hippy0 -
I am very much pleased to learn a lot from your post. I am sure it help me and others too.0
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Allegedly the new HES figures?UPDATED JANUARY 2011 FROM THE OFFICE OF NATIONAL STATISTICS DATA FOR FAMILY EXPENDITURE 2009/10
IMPORTANT NOTES
1) The figures in the table are average household spending in England for non-bankrupt households, which includes the use of credit.
2) Regional variations in some expenditure categories must be considered and local knowledge applied where appropriate.
3) The figures are a guide to compare against the bankrupt's claim for a particular expense, not as an amount that can be automatically claimed.
4) Examiners should seek evidence where an amount claimed does not appear reasonable or fit the particular circumstances.
5) 'Other possible essential expenses' listed are those commonly claimed but evidence should be sought of actual expense.
6) Items listed as non-essential are those requiring closer examination, but the list is not exhaustive.
7) Where available Examiners should compare alternative sources of declared expenditure such as debt management plans or IVA's.
8) The figures provided include expenditure on children where they are dependant members of the household.
9) Examiners should refer to Technical Manual chapter 31.7, Parts 1 to 4 for additional guidance on allowable expenditure.
Categories of essential expenditure
Technical Manual Single retired adult #5 Single non-retired adult Single adult +2 children Two adults +2 children Two adults no children
Mortgage payments or rent on your home 31.7.82-84 variable variable variablevariable variable
Housekeeping, including food and cleaning £197 £197 £317 £488 £363
Gas, electricity, other heating £61 £77 £94 £91 £100
Water £24 £30 £37 £35 £39
Telephone charges 31.7.92 £26 £32 £47 £59 £49
Travelling to and from work and other essential journeys (personal transport) 31.7.124 £33 £75 £68 £163 £157
Travelling to and from work and other essential journeys (public transport) 31.7.125 £11 £25 £23 £55 £53
Clothing 31.7.116 £29 £39 £88 £142 £98
Maintenance payments #1 and fines #2 31.7.119
Council tax #3 variable variable variable variable variable
#1 Formal arrangements only - calculated from net income x 15% for one child, 20% for two children, 25% for three plus children
#2 Court imposed fines only - these cannot be included as bankruptcy debts
#3 Council tax average for England between £90 - £130 per month
#4 Prepaid prescriptions charges (PPC) - £28.25 for 3 months £104 for 12 months - check for exemptions - free in Wales
#5 Not mainly dependant on state pension
Other possible essential expenses - See Technical Manual Technical Manual
TV licence (£142.50 per year or £12 per month) 31.7.110
Insurance policies (except motor) 31.7.117
Mobile phone costs 31.7.92
Dry cleaning 31.7.116
Children's school meals (check for exemptions)
After school clubs and trips 31.7.94
Childcare - if parent/s are working 31.7.95
Dentist31.7.122
Prescriptions #4 (£7.20 per item) - England31.7.121
Opticians31.7.122
Pets (evidence to be provided)31.7.116
Professional body membership (unless paid by employer) 31.7.107
Hairdressing and personal care 31.7.116
Rent arrears 31.7.82
Broadband computer costs 31.7.93
Holidays 31.7.116
Not considered essential expenditure - See Technical Manual
Social and entertainment expenditure 31.7.113
Pocket money for children
Gym membership 31.7.114
Sports and club membership 31.7.114
Satellite and cable TV 31.7.110
Alcohol
Cigarettes
Private healthcare
Excessive mortgage payments 31.7.85-91
Additional pension contributions3 1.7.109
Charity/religious tithing 31.7.115
Cleaning, gardening and ironing services 31.7.116Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
Allegedly the new HES figures?
BTW, good to see after last years decreases (which was crazy) that some items such as household expenditure and clothing, etc have gone back up (can't find last years figures to compare).0 -
the figures are used straight away, the technical manual provided by the IS under FOI, is naturally always updated a bit later for the public, usually 1- 2 months, so that IS staff can take in any changes before the public get to seeHi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0 -
the figures are used straight away, the technical manual provided by the IS under FOI, is naturally always updated a bit later for the public, usually 1- 2 months, so that IS staff can take in any changes before the public get to see0
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