Bankruptcy advice pre-pay cards official receiver what happens to my car MSE WANNABE

flaxvert

Right then.. Im on my way to the fantastic B word, and dont believe anyone when they say "the dreaded B word", stick with a positive mental attitude and greet every problem on the way with a smile! OK so youve lost your business or those gits have lent you far too much money coz there on commission and now you despise them for it... just remember that after this you wont be able to get in debt again... HIP HIP, HOORAY!!! Now, a few things ive found out so far...
Your car,,, They wont even think about taking a car thats worth less than a grand as it costs them £500 to repo a car and if you eed 1 for work or even to drive to the job centre then they will have to replace it with a cheaper alternative... say another £500 car!! And then theres the cash you have in your bank accounts... DRAW EVERY PENNY OUT the day b4 bankruptcy,,, it takes around 2 weeks at the mo from the letter going to the court to them declairing you BR so do the letter, pay the £350 or so that you HAVE to pay (unless someones makin you BR!!) Then you have 2 weeks to draw out any pennies and to stop any benefits going into that account. I went to my barclays branch and told them i will be going BR in a month and asked if i could keep this account going after the official receiver has looked at it and she said i could!! this means afterwards.. say a week later i can still have my tax credits paid into this account and have my phone direct debits take out!!! I also have a pre-pay card, one of those sun, breadcard and tuxedo cards,,, now dont even bother mentioning these sorts of cards to anyone as there not classed as a credit card. Just dont have mega bucks stored on it, £150 is an acceptable amount. Onto income and you might be in the situation im in where im moving to a council house and i will get the rent and council tax paid for me... but wait, theres more!! Im also getting a heafty wedge for single handedly bringing up my special needs autistic son... DLA CA income suport, do i have excess money that the OR (Official Receiver) will take from me??? No, not on your nelly! The OR understands that we need cash for christmas and birthdays. Also for pocket money and shoes for our little one, as he gets through a £5 pair every week!! The basis is,,, if you have LESS than £100 a week after normal living costs then you should be able to keep it. I will let you know the outcome of mine soon,, and i have a car valued at £370 too. Im in debt with british gas for £4,500 and a few cerdit cards totalling 4k, 1 of which is trying to second charge it on my mortgage. Now, as for my mortgage,,, ita a business and ive missed 19 payments so they want me to pay it off.. but i owe now £210,000 err.. will then take a check "boing" I will kee you informed and remember, every judge, baliff, hell even Citizens advice adviser have different guidelines! But this just gives you omething to go on.... Steve :j

fiveyearplan

Your thread is full on inaccuracies and untruths. I don't know where you got your information but you appear to know almost nothing about the bankruptcy procedure.

Any newbie reading this please disregard as I found almost nothing correct here. Post your own thread and get accurate, truthful advice from the regular posters of this forum.

peachyprice

Happy!! Best thing i could have ever done! Not gonna die worrying anymore!

flaxvert wrote: »

Right then.. Im on my way to the fantastic B word, and dont believe anyone when they say "the dreaded B word", stick with a positive mental attitude and greet every problem on the way with a smile! OK so youve lost your business or those gits have lent you far too much money coz there on commission and now you despise them for it... just remember that after this you wont be able to get in debt again... HIP HIP, HOORAY!!! Now, a few things ive found out so far...
Your car,,, They wont even think about taking a car thats worth less than a grand as it costs them £500 to repo a car and if you eed 1 for work or even to drive to the job centre then they will have to replace it with a cheaper alternative... say another £500 car!! Tell that to some people here who have lost a car worth far less.

And then theres the cash you have in your bank accounts... DRAW EVERY PENNY OUT the day b4 bankruptcy,,, it takes around 2 weeks at the mo from the letter going to the court to them declairing you BR so do the letter, What letter? You're BR the day you go to court. Do you know how the process works? Let me tell you, you fill in your forms, make an appointment to go to court, on the day you go to court you are BR, there is no letter that takes 2 weeks to be made BR.

pay the £350 (Hmm £495 for most) or so that you HAVE to pay (unless someones makin you BR!!) Then you have 2 weeks to draw out any pennies and to stop any benefits going into that account.

I went to my barclays branch and told them i will be going BR in a month and asked if i could keep this account going after the official receiver has looked at it and she said i could!! Yes, that's what the people in branch and at the call centre told me, but these people know nothing and are not the ones making the decision. My account was close 1 week after BR with no notice, just received a cheque for the balance in the post.

this means afterwards.. say a week later i can still have my tax credits paid into this account and have my phone direct debits take out!!! I also have a pre-pay card, one of those sun, breadcard and tuxedo cards,,, now dont even bother mentioning these sorts of cards to anyone as there not classed as a credit card. Just dont have mega bucks stored on it, £150 is an acceptable amount. Onto income and you might be in the situation im in where im moving to a council house and i will get the rent and council tax paid for me... but wait, theres more!! Im also getting a heafty wedge for single handedly bringing up my special needs autistic son... DLA CA income suport, do i have excess money that the OR (Official Receiver) will take from me??? No, not on your nelly! The OR understands that we need cash for christmas and birthdays. Also for pocket money and shoes for our little one, as he gets through a £5 pair every week!! The basis is,,, if you have LESS than £100 a week after normal living costs then you should be able to keep it. I will let you know the outcome of mine soon,, and i have a car valued at £370 too. Im in debt with british gas for £4,500 and a few cerdit cards totalling 4k, 1 of which is trying to second charge it on my mortgage. Now, as for my mortgage,,, ita a business and ive missed 19 payments so they want me to pay it off.. but i owe now £210,000 err.. will then take a check "boing" I will kee you informed and remember, every judge, baliff, hell even Citizens advice adviser have different guidelines! But this just gives you omething to go on.... Steve :j

Steve, no disrespect but I think you need to do a bit more research as there's a few things you haven't quite grasped. Once you've actually been through the process you'll realise it's not the walk in the park you think it is.

CG77

The basis is,,, if you have LESS than £100 a week after normal living costs then you should be able to keep it.

£100 a WEEK???? So £400 a month DI is allowed?!! No, it's less than £100 per MONTH!!! I agree with the others. New posters be aware there are many, many mistakes in this post. As advised, write your own posts with questions and you will get clear, and most importantly ACCURATE advice.

CG. x

debtissoeasytogetinto

Happy!! Best thing i could have ever done! Not gonna die worrying anymore!

Right then.. Im on my way to the fantastic B word,...mmm not fantastic - painful process for most people; and dont believe anyone when they say "the dreaded B word", stick with a positive mental attitude and greet every problem on the way with a smile! OK so youve lost your business or those gits have lent you far too much money coz there on commission and now you despise them for it... just remember that after this you wont be able to get in debt again... HIP HIP, HOORAY!!! Now, a few things ive found out so far...
Your car,,, They wont even think about taking a car thats worth less than a grand as it costs them £500 to repo a car and if you eed 1 for work or even to drive to the job centre then they will have to replace it with a cheaper alternative... say another £500 car!! i'm one of those who lost their car! and i needed it for travelling to and from work and it was worth less than 500! And then theres the cash you have in your bank accounts... DRAW EVERY PENNY OUT the day b4 bankruptcy,,, you are b/rupt as soon as the judge declares in court! it takes around 2 weeks at the mo from the letter going to the court to them declairing you BR so do the letter, pay the £350 (495!!!) or so that you HAVE to pay (unless someones makin you BR!! this rarely happens!) Then you have 2 weeks to draw out any pennies and to stop any benefits going into that account. I went to my barclays branch and told them i will be going BR in a month and asked if i could keep this account going after the official receiver has looked at it and she said i could!! Cannot comment, but other people's experience states this is not correct. this means afterwards.. say a week later i can still have my tax credits paid into this account and have my phone direct debits take out!!! I also have a pre-pay card, one of those sun, breadcard and tuxedo cards,,, now dont even bother mentioning these sorts of cards to anyone as there not classed as a credit card. Just dont have mega bucks stored on it, £150 is an acceptable amount. Onto income and you might be in the situation im in where im moving to a council house and i will get the rent and council tax paid for me... but wait, theres more!! Im also getting a heafty wedge for single handedly bringing up my special needs autistic son... DLA CA income suport, do i have excess money that the OR (Official Receiver) will take from me??? No, not on your nelly! The OR understands that we need cash for christmas and birthdays. Also for pocket money and shoes for our little one, as he gets through a £5 pair every week!! The basis is,,, if you have LESS than £100 a week after normal living costs then you should be able to keep it. I will let you know the outcome of mine soon,, and i have a car valued at £370 too. Im in debt with british gas for £4,500 and a few cerdit cards totalling 4k, 1 of which is trying to second charge it on my mortgage. Now, as for my mortgage,,, ita a business and ive missed 19 payments so they want me to pay it off.. but i owe now £210,000 err.. will then take a check "boing" I will kee you informed and remember, every judge, baliff, hell even Citizens advice adviser have different guidelines! But this just gives you omething to go on.... Steve all i suspect you said is a way of getting people to react; trolling is not particularly nice! however, if i have misread your intentions then i will apologise. I wish you luck!

flaxvert

Happy!! Best thing i could have ever done! Not gonna die worrying anymore!

Hello all ad thanks for your opinions, there muchly appreciated! Its not my intention to misslead, im just putting it to paper how ive been told it will work, from various sources including this site and my helper at the CAB. I'm on benefits which is why part of the costs are paid for for bankruptcy. As for the car, a lot depends on the running costs as well as the value, i have read on bankruptcy forums that it costs the OR int the region of £500 to repo it. I was also told that it takes 2 weeks for bankruptck to go through, but i see what CAB mean, it goes to court no probs then akes around 2 weeks b4 the OR takes over. I am out of this property on the 24th Nov as it went to court on the 27th of october. I could have defended myself in court but no, I dont want to live here anymore as the stress is getting a little too much. It will probably be my luck that i end up losing my car, my pre-pay card and have no bank account or home for me and my lad! Anyway, like i say, it isnt my intention at all to misslead, every case is different, When i finally go to court i will be posting everything step by step... Hopefully i will learn a lot from this adventure! All the best to everyone, Steve.

fiveyearplan

Hi Steve, wouldn't you rather be prepared before you go to court? Cars and bankruptcy are a big grey area so no matter what anyone tells you, until your OR tells you what is going to happen will you know for sure the answer to that. Whatever your OR tells you regarding anything come back on here and let us know, some things are negotiable and we will let you know if you should take it further.

As for your pre-paid card, I didn't declare mine as it isn't a credit card and has no credit facilities.

Also make sure you know the procedure for your court. For instance at the court I went to there was no appointment system, you go, you wait, you're declared bankrupt it was that simple (well getting to that stage was anything but simple but doing the actual deed is painless and very easy).

Keep posting any questions you may have regarding your bankruptcy and thanks for clarifying your first post!

If I were you I would open either a Barclays basic account or a Coop Cashminder - you should be okay with either of those accounts. When you do go BR, inform your OR that you opened it in preparation and the account has no credit facilities. He should then say he has no interest in that account and he will write to the bank to let them know.

flaxvert

Happy!! Best thing i could have ever done! Not gonna die worrying anymore!

As soon as my OR tells me anything i will be begging you for answers FYPlan, If worst comes to the worst then im not at all bothered about the car, obviously being debt free and having a roof over me and my kids head is top priority. And i might end up living in a council house in the village before then so that may help with needing the car to get my boy to his special school.....

Now that the RBS have taken the house (so to speak) to court, im in the hunt for a council or private rent property where by they help me out financially with the "rent deposit scheme". I have found out tho than a lot of lenders Belvoir being one of them want a massive 6 weeks up front rent as a deposit then another months rent in advace, the council have said they wont pay that much. So 4 houses that i was interested will remain empty... strange landlords.. that was the only thing stopping me from getting a private letting. still, that was just one option. My CAB girl is phoning the council on monday to find out what exactly is happing with me getting a new place and i will let you know. Apologies in advance that this was not really any info on the BR thingy but just hoping it fills in the gaps of my situation. Cheers for now all and FYP!

fiveyearplan

Good luck with the house situation! I wouldn't think 6 weeks deposit is out of the ordinary these days especially for a bankrupt. How much would the rent deposit scheme pay and could you come up with the rest?

Regarding the car, you need to state that you need to take your child to special school - you may be able to keep it. Every OR is different.

Yes, good idea to come back with any questions.

sandywindsor

Happy!! Best thing i could have ever done! Not gonna die worrying anymore!

flaxvert wrote: »

As soon as my OR tells me anything i will be begging you for answers FYPlan, If worst comes to the worst then im not at all bothered about the car, obviously being debt free and having a roof over me and my kids head is top priority. And i might end up living in a council house in the village before then so that may help with needing the car to get my boy to his special school.....

Now that the RBS have taken the house (so to speak) to court, im in the hunt for a council or private rent property where by they help me out financially with the "rent deposit scheme". I have found out tho than a lot of lenders Belvoir being one of them want a massive 6 weeks (be warned I went to Belvoir post BR and they wanted 6 months rent up front)up front rent as a deposit then another months rent in advace, the council have said they wont pay that much. So 4 houses that i was interested will remain empty... strange landlords.. that was the only thing stopping me from getting a private letting. still, that was just one option. My CAB girl is phoning the council on monday to find out what exactly is happing with me getting a new place and i will let you know. Apologies in advance that this was not really any info on the BR thingy but just hoping it fills in the gaps of my situation. Cheers for now all and FYP!

It might be worth checking the local papers as I found some private landlords(not through agency!) will take people on Housing Benefit etc

I was lucky agency wanted 6 weeks plus guarantor

Good luck and keep posting..it helped me.

Sandy

XX

flaxvert

Happy!! Best thing i could have ever done! Not gonna die worrying anymore!

The estate agent Belvoir askedabout a guarantor incase i didnt pay the rent, but i did tell them that the council would pay them direct so they had no worries about getting the rent, also that i would be getting benefits for quite a few years yet due to my sons condition, but they still said they would need 6 weeks then another month deposit. I do scan the local papers now and then but the 4 houses they have in there.... The man was quite ignorant at the council and said i needed to go to court and ask for more time to stay in my current house, even tho i was told by his colleague just to write a letter to the court asking for more time... furtunately on monday my usual lady is back off her hols and i can deal with her again. With a house from belvoir they would actually be asking something in the region of £1,150 as a deposit and i dont have that sort of cash. I could still move into a council house and im guessing i wouldnt need a deposit. The man didnt tell me what the council would pay upto tho as far as private rent goes, he just wanted me off the phone it seamed. My CAB lady will sort it out on monday and i'll let you know what happens... Im out of my home on the 24th so not long now!! Cheers all, Steve.