The Start of a very long journey!

skintsteve_2

Well after months of reading this forum i am making my first post. May i say that the advice and support in this forum is second to none, thanks to all the "free" help and experience of others.
Right, well me and the OH are going to go bankrupt. It's a decision not taken lightly, but we feel there is no alternative. I have done the online CCCs, and had a good 1.5hr conversation with them,(i have to say they were excellent), and they advised us to go BR.
We really need to act now, as we are living on credit, and the whole stress of the situation is not only affecting our relationship, its really making us feel ill!
I have a load of questions i would like to ask, but i am currently at work, so will ask when i can.
Bye for now

shadowdragon

Hi and welcome to the boards, we will look forward to reading about your BC journey.

Shadowdragon.

philnicandamy

chelseabun_3

Hi Skintsteve, welcome! :hello:

Phil - nice mat!!;):D:D

CBx

dalip

Wow a welcome mat what a good idea phil. Perhaps that should now be a sticky for all newbies.

Hi Steve and OH welcome.

Look forward to many many questions;) ,keeps us out of trouble.Dx

skintsteve_2

WOW! A "Welcome Mat" Thanks Phil! Now thats already cheered me up!! Right first question!
On the CCC's telephone call i was told that whilst BR you will be given a zero tax code. I understand that this is to try and reclaim as much as they can for my creditors. Will this show on my wage slip, or will my employer see this whilst she's doing my wages? I was planning on not telling her, just to try and not get frowned upon! The least amount of people know the better!

deedee_3

Hi and welcome to the board.

Your payroll department will be told by HMRC that you are to be issued with a nil tax code so they can administer it but there are numerous reasons that you could have this.

If anyone says anything which they shouldn't because of data protection but if they do just say 'I'm not sure why but who am I to argue'

skintsteve_2

Thanks Deedee!
I have so many questions buzzing round my head now. We both have Halifax bank accounts that are wages are paid into. We also both have Halifax unsecured loans and overdrafts. I am concerned that if we cancel all DD before BR, can they close down our overdraft facility and basically swallow my wage. We will be looking at a co-op bank account but i believe that it cannot be used before actually going BR. So what are my options? I am sorry for the barrage of questions. Your help is Priceless

chelseabun_3

Hi steve,
We have Halifax accounts, and my OH owes an overdraft and unsecured loan to them too. CCCS advised him to move away from Halifax asap and pay everything into a new account. We've opened a basic Co-op account for him. You can do this and start getting your wages paid in before BR, so long as you don't build up a huge amount of credit in it! If the only money in is your wage, and the only money out is priority payments (eg rent/mortgage, bills) the OR should be fine with it.

Hope that helps! CBx

deedee_3

Yes you can open an account before you go bankrupt. I did with no problems. If I were you I would get one opened asap and get your wages paid in and DD's out of it.. Halifax will close your account the second they hear about your bankruptcy. When you talk to the OR on the day of your bankruptcy you tell him this is the account you opened for your bankruptcy.

chelseabun_3

Great minds think alike, Deedee!