Bankruptcy

Biffa

Hi again,
No, I didn't lose my job - I work as a Housing Officer in Nottingham. In fact, I handed in my notice and started worling through an agency, with a pay rise of around £400 - 500 a month. So it's getting better! You have to notify the OR of any change of circumstances, which I've done, in case it affects your ability to repay. As it is, they've said I still don't have to pay anything as my husband is on incapacity benefit and we only have my income.

oriana

cd02 wrote:

...Basically I’m just looking for some information. In terms of what debt does it cover.

Hi cd02, i dont know if this is relevant to you, but since Sept 2004, Student Loans dont get written off in a Bankruptcy, you are still liable for them, even when you get discharged.

Also, i dont think 'Professional fees' are included. Not sure what they mean by that -maybe Lawyer and Vet fees etc?

x

kevker

Professional fees are any costs involved with your job. For instance I'm a computer engineer, so I subscribe to some trade publications, so that I can keep up with what is happening in the industry. The OR said this was fine, as would be any training costs, but this is covered by my employer. Also I have a yearly subscription to the Institute of Advanced Motorists, which the OR realised reduced my insurance premiums, which freed up more money for my IPA.

cd02

oriana wrote:

Hi cd02, i dont know if this is relevant to you, but since Sept 2004, Student Loans dont get written off in a Bankruptcy, you are still liable for them, even when you get discharged.

Also, i dont think 'Professional fees' are included. Not sure what they mean by that -maybe Lawyer and Vet fees etc?

x

thank god thats one thing i haven't got, a study loan.. my list is made up of..

2 x loans
1 x credit card
1 x store card (brought something £34 and some how its jumped up to £200+ ??)
then i'm behind on bills such as gas, water, electric, mobile phone (cut me off but still owe money), land line, tv licence, council tax, etc etc

Is any of the above not covered my bankrupcy ?

Addicted2Chocolate

all of your debts would be included in bankruptcy, all consumer credit, household bills, money owed to friends and family etc. Basically the whole point of bankruptcy is to treat all creditors fairly so you must include all creditors.
Again about cars you are oly supposed to be able to keep them if vital for employment. I am surprised at the poster who was able to keep cars becuase of low value. In my experience these cars are collected by agents and scrapped.

kevker

I agree with A2C, my car was worth £350 and would have been taken ( I was told I could gte the train to work), but the OR allowed my father to buy out my interest in the vehicle. Basically the car is now his and he allows me to use it.

smokey112

We where declared BR on 27/10 last year

All of our debts including nearly £10k of council tax/poll tax where taken into consideration.

We did not lose any of our household goods - TV's, Computers, DVD player etc

We still have our car (new in 04) - but due to type of agreement we have been allowed to keep as travel expenses and custody arrangements for OH kids meant we needed car - we could not have sold car and been given money to buy new car - I guess every case is different

I would say it was the best thing we done - no nasty letters from our creditors - most of the mail we get now is offering us loans LOL. MBNA still have not grasped the point as we keep getting letters from them asking to contact them to settle with a FF offer - yet the creditors meeting was in Dec.!!

HTH
Ang
x

leneth

hi everyone i am also going bankrupt, tomorrow, just trying to finish the forms and get everything together.
do i include a catalogue purchase, a bed, do you know what will happen about it?
i am really worried about the whole thing at the moment, so any good advice would be welcome, can't wait til it is all over.

smokey112

leneth

We included all of our debts - we had a catalogue debt which had some household items

good luck for tomorrow

HTH

Ang
x

kevker

Safest bet would be to include eveything. The Official Receiver will tell you at the interview if anything is amiss.