Help needed!

minimad1970

I was declared bankrupt in august.I had £4000.00 owing due to overpayment of income support, which was taken at £8.00 per week from my carers allowance. When I spoke to the O/R he didnt know if this debt would be included in my bankruptcy. I have just had my monthly payment and it had increased so the debt was written off.

t0mm

Thanks for your help... I'll probably add it to my SoA as soon as I know how much they want me to repay, then the OR can decide whether it is allowed or not.

What's the worst that could happen?

t0mm

Hi again all,

I'm looking now to do the deed at the start of next year, when I have some time off work to be able to sort everything out. I'm thinking obviously of saving up for my BR fee. Would it be a good idea for me to stop payments to my creditors now? Payday is the 25th November and loans etc come out on the 26th November and 1st December

I'd then transfer all of my salary into another seperate bank account in which I have no debt, so that RBS can't get their dirty hands on any of it

deedee_3

Yes stop paying any non essential bills now, it is just chucking good money after bad. Be prepared for an onslaught of calls and letters.

Did you get an answer to your overpayment question?

t0mm

Thanks for the advice

deedee wrote: »

Did you get an answer to your overpayment question?

Not yet, no. Seems a bit of a grey area. I was going to put the debt down on my SoA and include any monthly repayments that the DWP want me to pay and let the OR tell me whether they can go into the BR or whether they have to come out of surplus.

Does that sound like a plan?

I've also got a non-contributory life insurance policy that'll pay out 4x my salary upon my death - that's through my work. Does this need to be declared on my SoA?

t0mm

One other thing (sorry for the double post) - I have got two addresses - my official address is where my mum lives, I go back there most weekends and several evenings a week.

That is the address that all my bank accounts and debt is in. I am also on the electoral roll at that address.

I have another address, which I have been living at during the week for the past 4 months - none of my creditors have got this address. This is the address that I pay rent for (it's a house-share with two other people).

My question is, before I go BR, should I write to all of my creditors etc and tell them that I am now living at this other address? The only reason that I have held back so far is that it is a short-term tenancy (for only 6 months) and there is no guarantee that i'll still be at this address in 2 months time (though I most likely will).

Although I have explained to my mum the situation that i'm in - and she is supportive of whatever I decide to do - I don't want her to be receiving 15 items of mail and 15 phone calls from my creditors every day, even if it is only for a couple of months until my BR date. It'd drive her mad!

deedee_3

If you have an arrangement in place before bankruptcy you carry on paying it until you are discharged then the rest is written off. If there is no arrangement it should go into the bankruptcy. That is my understanding of it anyway.

t0mm

Thanks Deedee - I don't have any arrangements in place at the moment - I should suspect that the DWP will be back to me in the next few weeks to let me know how they want me to pay them back, and how much (exactly) I owe them. £1500 is just a guestimate.

Anyone have any answers to my other questions, re: insurance policy and address?

Thanks

chelseabun_3

Hi T0mm,

Probably best to declare the insurance policy - the OR will prob ask you if you want to buy the BI, which would be £50.

Re the address, to stop the letters & calls going to your mum's you could give the creditors the new address, however is it in the same town / area as your official address? The reason I ask is that if it falls in a different county area covered by a different county court, you'll have to check which court you can go BR at.

Also, I noticed on your SOA that you have no contents insurance. Put £25 for it, as you should have it. Try £20 for pressies as well - nothing ventured ...

t0mm

Hi Chelseabun,

Haven't put contents insurance down as I am living in a shared house and am covered by my landlords contents cover. Perhaps wouldn't be a bad idea to get some of my own anyway though. Will change pressies to £20 - I guess the worst that could happen is that the OR would reduce/remove it.

My mum's address is in a different county, would almost certainly fall under a different court.

Not sure about the acronym BI?

Thanks