To go BR or not??

imcognito

Thanks, thats good I think I willtake out ont eh Credit card now before it all goes tits up!! We would use the money we save but he has debts of his own that he needs to pay as last thing we want is for him to go BR too.

Yep will make sure everything is changed before I take myself off the account.

Thanks again..

this is soo hard!!

Richard_S

Hi Imcognito,

I think for most people the hardest part of the whole process is actually making the decision that there really is no alternative other than bankruptcy. Once you've arrived at that decision the rest is relatively straightforward. There are unpleasant aspects, such as going to Court and the conversation / meeting with the O.R, but they're only on the same par as going to the dentist.:eek: :eek:

As far as the car is concerned, there's nothing to stop the monthly payment being made from your O.H's bank account. Declaring bankruptcy may technically breach the terms of the agreement but companies seem happy to overlook that providing the payments are being met from somewhere.

Richard

imcognito

Thanks again!!

Ok Next question.... would it be an idea for my DH to go bankrupt also?? I know noone can tell me yes or no! But if I am doing it anyway and obviously because of the joint mortgage he is financially associated with me.

If the house is in neg equity we should get to keep yes?? We just ask them for the BI??

After looking at the figures after my debt paymenbts are taken out the monthly equation he is still short (on basic salary) to pay his own but he could with his overtime. When they ask for I&E would they take into account overtime???

I will ring payplan again tomorrow just wondered if anyone knew now so he can start thinking about it

thanks

imcognito

Oh just realised they would probably put an IPA on Dh's earnings wouldnt they???

Hmm maybe not then

imcognito

Me again!! I just realised that he wouldnthave any surplus after living expenses (if they dont take into account overtime - need clarification on this) so perhaps it is an option for him also..

I

shadowdragon

imcognito wrote: »

Hi again..

I have been reading some other posts on here and I have another question.

It is only me going Bankrupt. Dh cannot afford to keep paying my debts if he wants to get to work and feed us and pay the mortgage etc etc etc..

They wont take his income into account will they? They cant chase him for my debts?? Only the mortgage is in joint names and i plan to if there is any BI sign it over to him.

Also, as yet we have not missed any payments.

I plan in the next few weeks on sorting out changing the So where Child benefit is paid into and making sure all Direct debits are in the joint account and all bills are not in my sole name.

Once all that is done I plan to go for the BR.

My Dh does not have £500 to give me to go bankrupt - he can probably find it somewhere but will mean less food essentials etc. Can I withdraw cash on my Credit card to pay for this? As I have not missed a payment it is still active and I still use it when we are short for other things.

Should I get that done soon and stash it.

Then should I cancel the DD's for my debts (except the car we are still debating that one??)

Thanks and Morning everyone!

If your OH is NOT filing for bankruptcy it would be a good idea to remove your name from the Joint account and financially disassociate yourself from them. Otherwise that account may get frozen when they find out your bankrupt.

imcognito

Afternoon all!!

Right well have started doing what needs to be done, have moved the Child Benefit into the joint account and moved a few straggling DD's over to the joint account also.

My Car insurance is up this month and I need to get that sorted soon I suppose .. I have been through the car paperwork and is definately HP so hoping that I will get to keep it.... With Dh paying it. Lets hope he can keep up with everything once this is over and my debt has gone. He has a lot of his own to deal with.

When I withdraw the money for the BR fees should I do at once? Or as much as my limit per day is? I am hoping they will waive the court fees for me as my only income is Child Benefit? Is this right??

I cant take myself of the joint account until after the 15th of this month (Dh's payday) as I am sure we will go into overdraft right before so what else do I need to do to prepare??

Get the forms? Can i download them or do I need to go to court to get them?

Find out about court too whether I can just turn up or if I need to book...

Am sure I will have more questoins soon..

I just keep having doubts.. I am sure this is the right thing to be doing but am soo worried about the house!

Thanks guys good to let it out here anyway!

imcognito

shadowdragon wrote: »

If your OH is NOT filing for bankruptcy it would be a good idea to remove your name from the Joint account and financially disassociate yourself from them. Otherwise that account may get frozen when they find out your bankrupt.

Thanks, No OH is not filing, at least not yet anyway we are going to try and see if we can cope come the new year and see whre we are before we do him, we dont want to lose house etc

He cant financially dissassociate himself from me as we have a joint mortgage tho I will be coming off the joint account once he has been paid!

peachyprice

imcognito wrote: »

Afternoon all!!

Right well have started doing what needs to be done, have moved the Child Benefit into the joint account and moved a few straggling DD's over to the joint account also.

My Car insurance is up this month and I need to get that sorted soon I suppose .. I have been through the car paperwork and is definately HP so hoping that I will get to keep it.... With Dh paying it. Lets hope he can keep up with everything once this is over and my debt has gone. He has a lot of his own to deal with. Yes, do car insurance soon, as you're not allowed credit over £500, if you pay in installments it counts as a credit agreement. I ended up posting my agreement the day before BR! Good news on the car, at least it'll give you time to decide whether you can afford to keep it.

When I withdraw the money for the BR fees should I do at once? Or as much as my limit per day is? I am hoping they will waive the court fees for me as my only income is Child Benefit? Is this right?? You can take it all out at once, or as near as your limit will allow.

I cant take myself of the joint account until after the 15th of this month (Dh's payday) as I am sure we will go into overdraft right before so what else do I need to do to prepare??

Get the forms? Can i download them or do I need to go to court to get them? You can fill them in online here https://www.insolvencydirect.gov.uk/isolv/ and print them out when you've finished. You can fill bits in and save as you go.

Find out about court too whether I can just turn up or if I need to book... They're all different, some have quite long waiting lists though. Which court will you need to go to?

Am sure I will have more questoins soon..

I just keep having doubts.. I am sure this is the right thing to be doing but am soo worried about the house!

Thanks guys good to let it out here anyway!

You're sounding very positive today. Sometimes just the knowledge that it'll be all over soon is enough.

imcognito

peachyprice wrote: »

You're sounding very positive today. Sometimes just the knowledge that it'll be all over soon is enough.

Ooh thanks about the car insurance, Dh thinks next months pay will be a high one though so should be able to pay the insurace upfront without the HUGE interest rates they add to the insurance!! Fingers crossed come his payday..

It will be Reading CC, I rang my local one they dont do it, and said go to Reading, tried ringing them but its not getting through. Rings once then cuts off will keep trying. Will feel better once everything is confirmed. !

Thanks for that link.. when I register will that be it?? I mean will they (whoever they are LOL) know I am going to file for BR at that point? Or is it like a forum registration?? I dont want to make anything official till after I am off the joint account etc.

Right I think I am going to take my boys to the park, the sun is shining and it is free!! the sun prob wont last more than a few days I expect!!

Felt incredibly guilty this morning though, I ordered some stuff a few weeks ago for my boys bedroom (eldest is growing out of toddler bed so needs a single) and it all arrived this morning... I kept thinking I should send this back as the debt will be going to BR Had I known that things would get this bad I would never have ordered it? But my son asks everyday when his big boys bed is coming... Dh is buying the bunks next payday has earmarked the money for it and th paint! but I just feel its soo wrong...

Will the OR look at this?? Will this count against me???