advice re bankruptcy

DON79

Also I have a bank account currently with A&L and it is a visa debit card but no overdraft facility. Would I be made to close this account?

Thank you for all of your replies. I have emailed cccs to ask them about my going bankrupt to see what they would consider the best option for me.

philnicandamy

There have been very very rare occasions where people have been able to keep accounts but very few & far between....once BR the bank will more than likely close the account i'm afraid

DON79

ok, just wanted to know, i have a basic cash card account already with ltsb. Are they likely to close this one or would they allow it to remain open? It only has £5 in it at most!

philnicandamy

Who's to say? the banks are very vague so not really any consistency at all....so cant say if the LTSB account will be closed..it might or might not...no help I know would it not be worth considering opening a basic acc with one of the BR freindly banks (co-op and barclays) then at least your covered "if" your ltsb account is closed

DON79

hi, another question. I see that the OR requests bank statements from you when you go BR. How far back do these bank statements have to go? I don't know whether I have kept all of them and would I then have to request the stmts from the bank who would then probably charge me for this. Or can the OR request them on your behalf?

deedee_3

The OR can ask for 1 to 5 years of statements depending on the case. Usually they only ask for 1-2 years. Any thing you haven't got the OR will ask the banks, CC companies etc. for so you don't have to worry. They are fairly used to people having incomplete records.

DON79

thank you, I am just really considering what to do for the best. I just know that I can't live with this debt hanging over my head for so long. It is really getting me down and I want to be rid of it. CCCS predict my debt will be settled 2061 if I keep paying the £65 per month I am paying just now and I can't leave it that long. Even if I somehow manage to up my payments to £200 pm, I won't be debt free til 2025.

Any ideas on how I can raise the money to go bankrupt? And how much exactly will it all cost in total?

deedee_3

You will have to pay £495 to go bankrupt. That is £150 court fees, which if you are on certain benefits or low income you may be able to get a remittance on. Will get a link for you.) and £345 OR's fees which you have to pay.

If you are going to go bankrupt then stop paying your creditors and save like hell!! Sell things on Ebay/carboot. If you have any space on a credit card and/or an overdraft then you can use this (OR's tend to turn a blind eye.)

Here we go this is from Fermi's sticky 'Bankruptcy help, useful topics etc.....' A very useful and recommended read.



Court fee remission and forms.

HMCS - Court fees do you have to pay them? (And guidance on completing the fee remission form). (pdf)

HMCS - Form EX160 - Application for a fee remission (pdf)

Example application for a fee remission based on gross annual income - EX160 (Thanks to NE Derbyshire CAB)

Example application for a fee remission based on permitted benefits - EX160 (Thanks to NE Derbyshire CAB)

Possible assistance with Bankruptcy costs / fees (Thanks to NE Derbyshire CAB)

DON79

Hi, my gross annual income is £5500, do you think I would qualify for help with the court fees? Or do they take my husbands income into account when deciding this? Thanks.

deedee_3

Is that benefits or paid work? How much does your OH earn? Any children?