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Bankruptcy advice - please!!!!

Need some help please!
Considering bankruptcy - am a school teacher but concerned how it will affect my employment. Wil my school be informed of my bankruptcy or will it just be the local authority - i.e. payroll?

am sure there should be other questions I should be asking - but not sure what they should be at the mo :confused:

Any help wold be great!

Just 'muddling through' XX

Comments

  • You will have no problems as a teacher going bankrupt, it will not effect your job at all. Though you won't be able to handle monies.

    Your employer will not be informed, all that will happen is HMRC will inform your payroll of the Nil Tax Code, but that is nothing to worry about as it does mot automatically indicate bankruptcy.

    The first thing you need to do is ring one of the debt charities and seek their advice. The numbers and links are in the Bankruptcy Help sticky at the top of the board in the fist post. Also have a read of that as there is a lot of useful information there.

    Any questions just ask away.
    Namaste DeeDee x
  • Waspeze
    Waspeze Posts: 2,479 Forumite
    Part of the Furniture Combo Breaker
    deedee wrote: »
    all that will happen is HMRC will inform your payroll of the Nil Tax Code, but
    Any questions just ask away.

    If you go bankrupt in the next couple of months then you probably won't have to worry about a NTIPA (Nil Tax code IPA). as the tax year is nearly up ;)

    Do what Deedee says though and contact one of the debt charities first!
    :hello:
    Save a little money each month and at the end of the year you’ll be surprised at how little you have.
    An eye for an eye only ends up making the whole world blind
  • dalip
    dalip Posts: 7,045 Forumite
    Yes i went bc in nov and the NT code was never applied. There are a couple of numbers for the debt helplines in my sig.Dx
    Free impartial debt advice available from: National Debtline - Tel: 0808 808 4000 | The Consumer Credit Counselling Service (CCCS) - Tel: 0800 138 1111 | Find your local Citizens Advice Bureau
    Laugh at yourself and others laugh with you.Laugh at others and you laugh alone. BSC No 107:D
  • Thanks to you all for your guidance - will do as suggested - have already spoken with Sterling Trust about arranging lower repayments but one of the credit cards in particular is playing hardball and just adding fees and late payment charges like no tomorrow.:eek:

    Was just so worried where I stood in terms of my job - didn't want to end up with no income at all!!!!!

    Thanks again

    Will keep 'muddling through'!
  • deedee wrote: »
    You will have no problems as a teacher going bankrupt, it will not effect your job at all. Though you won't be able to handle monies.

    Your employer will not be informed, all that will happen is HMRC will inform your payroll of the Nil Tax Code, but that is nothing to worry about as it does mot automatically indicate bankruptcy.

    The first thing you need to do is ring one of the debt charities and seek their advice. The numbers and links are in the Bankruptcy Help sticky at the top of the board in the fist post. Also have a read of that as there is a lot of useful information there.

    Any questions just ask away.

    The OP is a teacher, exactly in what way would they handle money that could conflict with BR?

    Other BR teachers have mentioned clever clogs kids having seen the BR notice in the paper and having a dig, maybe we can find out when the new "no notice" rule starts
    Now we all know how it felt to play in the band on the Titanic...
  • Sorry for being so daft.

    Does anyone know any more about this?
    I'm assuming it means that your BR details will not be placed in the local paper?? :confused:

    How do you qualify and when does this start?

    Thanks

    Muddling through XX
  • I believe there was some talk about the BR details no longer being placed in the newspaper, but allegedly this will only be in certain cases as it is used as a method of allowing creditors to put in their claim.

    Will see if I can find the link to the thread in question...
    Get free advice before embarking on bankruptcy: CCCS 0800 138 1111 National Debtline 0808 808 4000
    Business Debt Line 0800 197 6026 CAB Insolvency Service- 0845 602 9848
    "He who laughs last didn't get it!" :rotfl:BSC 134

  • I believe there was some talk about the BR details no longer being placed in the newspaper, but allegedly this will only be in certain cases as it is used as a method of allowing creditors to put in their claim.

    Will see if I can find the link to the thread in question...


    this will be at OR's discrecion..it will still appear in the london gazette & be held on the insolvency website...there was talk of something happening around march 2009 but nothing set in stone as yet...have a search for postings by addicted to choc she replied a few days ago about this
    We all die. The goal isn't to live forever, the goal is to create something that will
  • Get free advice before embarking on bankruptcy: CCCS 0800 138 1111 National Debtline 0808 808 4000
    Business Debt Line 0800 197 6026 CAB Insolvency Service- 0845 602 9848
    "He who laughs last didn't get it!" :rotfl:BSC 134

  • Thanks for the info.

    Not my main concern I guess but it is good to know that there may be a possibility of keeping it out of the local gazette - I know my head would prefer for that to be the case so I'm not bringing the reputation of the school down!!!!!

    M.T. XX
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