Your thoughts needed...

shirleymarye

I was planning on going BR after New Year but am not sure what to do now so would like your thoughts on this :

I have a dispute with the Abbey over a joint account and they have refused to pay me the money because my name was removed from it and they don't know why. I never asked them to remove it and my ex who died earlier this year never did anything about it ( they say it could have been removed by a court order ) this never happened. The account is now with the Ombudsman and don't know when or if I will get it.

Should I wait for the outcome of this before going BR ?
I have missed December's payments and my phone constantly rings with agencies asking about money, I don't answer them now !
I was wondering if I should write letters to people concerned about the non- payments and see if they will hold fire till the above account get's resolved.

I owe 21000K in all and the account is for 7K which leaves 14K and 9K is due to one company.

I suppose I am trying to avoid BR but maybe I should just go ahead and do it.

I have already opened a Co-op cashminder account which arrived in the post today.

Such a muddle, my car needs repairing and my insurance is due also !
Apparently I have to find the money for BR as well !

By the way I am a pensioner and 70 next month so not even sure if I can get a part time job even !

Any thoughts welcome, have already had some good advice from others on here but need to be sure what I am doing.

dalip

Put that way shirley ,IMO i would go bc,forget the 7k with all its hassel and enjoy retirement debtfree and with peace of mind. Ultimately the decision is yours and yours alone. We can give opinions and advice but it is your finger on the trigger so to speak. With you being in scotland, it is a different and i think slower process,than ours down here,but the basic's are the same.Dx

skylight

Another agreement.

I would not bother about Abbey. Make sure it goes down as an asset though on any BR forms and explain whats happening. The reason is that if you did have full access to the funds anyway, then its going to be eaten up by debts anyway, so why put yourself through the hassle?? If you waited, you could be waiting a long time.


Actually - another thought.
Any chance of contacting the ombudsman to see whats taking so long? It would be useful to use some of it for BR purposes and to get your car fixed before BR, and hand over the rest to the official receiver. But if its going to take sometime then forget it. You have better things to be getting on with in retirement than taking onboard extra hassle.

AllNancy

Hi Shirley,
I went bankrupt in May and I'm 69. For what it's worth I don't regret it. I regret getting to that stage but it happens.

Re your car.........the OR took mine. It wasn't worth a lot and he allowed me petrol etc etc etc and then took the car! His argument being that I didn't work..........I was still Supply Teaching! Doesn't make much sense.

So........I would hold off on the repairs in case he decides to take it. Also the insurance...if that is for the car.

Good luck....it isn't as bad as it seems!


Nancy

shirleymarye

skylight wrote: »

Actually - another thought.
Any chance of contacting the ombudsman to see whats taking so long? It would be useful to use some of it for BR purposes and to get your car fixed before BR, and hand over the rest to the official receiver. But if its going to take sometime then forget it. You have better things to be getting on with in retirement than taking onboard extra hassle.

Actually it could be 3 to 6 months or so I was told before Xmas,I have been after this money since last July but they are now quoting a 6 year rule ?
It would certainly help if I got it first because I could get my car repaired and car insurance paid also pay off my Abbey overdraft and credit card ,they may close the account anyway if they have to pay me Feel quite sad about closing my acount after 8 years with them.

dalip

Hold up shirley. If the money came through and you paid your abbey o/d and cc then still went bc you would get into big trouble with the OR for favouring a creditor. That offence carries a BRU,whereby the restrictons of bc are carried on for anything from 2-15 years.Dx

shirleymarye

dalip wrote: »

Hold up shirley. If the money came through and you paid your abbey o/d and cc then still went bc you would get into big trouble with the OR for favouring a creditor. That offence carries a BRU,whereby the restrictons of bc are carried on for anything from 2-15 years.Dx

Is BC same as BR ? What's BRU ?

Sorry if I sound a bit stupid !

So you are saying that I can get into bother for paying off some debts before I do the BR ?

fiveyearplan

BC is the same as BR. BRU or BRO is bankruptcy restrictions undertaking/order. That is when the restrictions of your bankruptcy are extended usually to do with fraud, gambling etc.

dalip

shirleymarye wrote: »

Is BC same as BR ? What's BRU ? Stands for bankruptcy retriction undertaking.For the 12mths you are bc, certain retrictions are placed on you such as no credit over £500 without informing the creditor of your bc, certain jobs ect. Not many of which should bother you,they are no big deal,still nobody likes to get one. Just thought you should be aware.

Sorry if I sound a bit stupid !No sorry needed perfectly normal not to know all the in's and out's of bc/br at this early stage

So you are saying that I can get into bother for paying off some debts before I do the BR ?

Yes. Also the OR may well delve deeper into your affairs.Dx

shirleymarye

dalip wrote: »

Yes. Also the OR may well delve deeper into your affairs.Dx

He is welcome to delve into my affairs as I have nothing to hide except not enough money coming in !

Don't want to get into bother though so may as well just go for the BR and let them sort out the 7K if it ever arrives !

dalip

I was not inferring you had anything to hide.When i said delve deeper, i mean't they may well ask where every penny of income has gone for the last 2 years, that sort of thing. We have had posters on here where exactly that has happened. BCis hard enough without the OR breathing down your neck. Ask either lilybart or scarlett bout OR's:rolleyes: .Dx