Can someone walk me through declaring myself bankrupt?

tinkerbellescrew

After much consideration and talking it through with the OH, plus all the advice and questions answered last night on this forum. I have decided to start the wheels in motion to declaring myself bankrupt.
Ok so heres what i know, i have started filling in the forms online and they seem not too complicated but very long.
I know you have to attend court and the judge stamps the forms, then you have an interview with the OR to discuss you income & expenditure.
I know i will have to open a new bank account which i intend to do this week with co-op plus OH is opening a new seperate account also.

So my main questions are: Do i just call the courts tomorrow and say 'i want to declare myself bankrupt' This is what i am unsure of, how to start the ball rolling.

Secondly i do not work, i am on incapacity benefit, recieve Disability living allowance, child benefit, child tax credit and working tax credit. Do i include the total of all these as my income on the form? These all currently get paid into my halifax current account. Now should i have them paid into the co-op account or should i open a post office account. I have read that the co-op account could be frozen and all monies going in not able to be used for some time.
My husband earns a wage of around £1500 a month after tax, how much would they expect him to pay? Or how much should i say he contributes?

I see on the forum people are completing a SOA that looks totally different to the one on the form. The one on the official form has alot lesson options to include expenses for. Do i need to complete both?

Finally one questions that got me stumped was, i askes for details of accounts which i did, then askes for details of credit/visa/debit/cheque cards. For the 2 accounts i hold and listed i have visa electron cards, do i need to list these in the card section, even though they are connected to the accounts?

Plus will the OR contact my landlords? What if anything will/can my landlord do? We are planning to vacate the premise at the end of April anyway when our agreement is up but can they ask us to leave before hand.

I am expecting baby number 3 in May, can i include in the SOA things i will need from May for the baby. Plus i am hoping to get the surestart maternity grant of £500 to buy things for the baby, it has to be paid straight into an account will the OR take this from me?

Sorry for all the questions i have so many i keep thinking of!

peachyprice

tinkerbellescrew wrote: »

After much consideration and talking it through with the OH, plus all the advice and questions answered last night on this forum. I have decided to start the wheels in motion to declaring myself bankrupt.
Ok so heres what i know, i have started filling in the forms online and they seem not too complicated but very long.
I know you have to attend court and the judge stamps the forms, then you have an interview with the OR to discuss you income & expenditure.
I know i will have to open a new bank account which i intend to do this week with co-op plus OH is opening a new seperate account also.

So my main questions are: Do i just call the courts tomorrow and say 'i want to declare myself bankrupt' This is what i am unsure of, how to start the ball rolling. Yes, as simple as that, you need your local County Court, not all do bankruptcy, but if they don't they'll tell you which one does for your area

Secondly i do not work, i am on incapacity benefit, recieve Disability living allowance, child benefit, child tax credit and working tax credit. Do i include the total of all these as my income on the form? Yes, but under benefits

These all currently get paid into my halifax current account. Now should i have them paid into the co-op account or should i open a post office account. I have read that the co-op account could be frozen and all monies going in not able to be used for some time. If the account were to get frozen, which is highly unlikely with the co-op account, the OR will unfreeze it immediately.

My husband earns a wage of around £1500 a month after tax, how much would they expect him to pay? Or how much should i say he contributes? You just need to put his contribution at whatever is needed to make your I&E balance. They don't need to know his total income.

I see on the forum people are completing a SOA that looks totally different to the one on the form. The one on the official form has alot lesson options to include expenses for. Do i need to complete both? No, just the one on the form, anthing there isn't a line for put in the big box at the bottom, then add all those bits up and put in the total box.

Finally one questions that got me stumped was, i askes for details of accounts which i did, then askes for details of credit/visa/debit/cheque cards. For the 2 accounts i hold and listed i have visa electron cards, do i need to list these in the card section, even though they are connected to the accounts? You need to repeat in both sections, along with all your ccards you no longer have but owe money on.

Plus will the OR contact my landlords? What if anything will/can my landlord do? We are planning to vacate the premise at the end of April anyway when our agreement is up but can they ask us to leave before hand. Some OR's do tell the landlord, some don't. if you're up to date with the rent and good tenants the LL is unlikely to do anything at all. Is there a bankrputcy clause in your tenancy agreement?

I am expecting baby number 3 in May, can i include in the SOA things i will need from May for the baby. Plus i am hoping to get the surestart maternity grant of £500 to buy things for the baby, it has to be paid straight into an account will the OR take this from me? Congratulations! You can't put anything on the SoA for the baby, but as your only income is benefits the OR cannot take anything from you in an IPA to pay your creiditors. I'm not sure about the grant, but I wouldn't have thought the OR would take it, when is it paid?

Sorry for all the questions i have so many i keep thinking of!

No need to apologise for the questions, better to ask than worry about it.

deedee_3

tinkerbellescrew wrote: »

After much consideration and talking it through with the OH, plus all the advice and questions answered last night on this forum. I have decided to start the wheels in motion to declaring myself bankrupt.
Ok so heres what i know, i have started filling in the forms online and they seem not too complicated but very long.
I know you have to attend court and the judge stamps the forms, then you have an interview with the OR to discuss you income & expenditure.
I know i will have to open a new bank account which i intend to do this week with co-op plus OH is opening a new seperate account also. That is the basics of it

So my main questions are: Do i just call the courts tomorrow and say 'i want to declare myself bankrupt' This is what i am unsure of, how to start the ball rolling. Yep! just like that.

Secondly i do not work, i am on incapacity benefit, recieve Disability living allowance, child benefit, child tax credit and working tax credit. Do i include the total of all these as my income on the form? Yes These all currently get paid into my halifax current account. Now should i have them paid into the co-op account or should i open a post office account It is entirely up to you . I have read that the co-op account could be frozen and all monies going in not able to be used for some time.I have not heard of Co-op freezing anyones accounts in 18 months of reading this forum. If it is then it can be sorted within a day or two with no problems.
My husband earns a wage of around £1500 a month after tax, how much would they expect him to pay? Or how much should i say he contributes? You put your joint household expenses down ie rent, utilities, council tax. Then your personal expenses hair, prescriptions, mobile. You put your full wage down and your husbands contribution to the joint household expenses, usually around 50%.

I see on the forum people are completing a SOA that looks totally different to the one on the form. The one on the official form has alot lesson options to include expenses for. Do i need to complete both? The one you see on here is our one for making sure you claim for everything. On the forms you concertina some things ie car, insurances. There is also a drop down box for more. if you do the makesense ofcards one and post it on here we will check it for you before you transfer the potted vesion on your forms.

Finally one questions that got me stumped was, i askes for details of accounts which i did, then askes for details of credit/visa/debit/cheque cards. For the 2 accounts i hold and listed i have visa electron cards, do i need to list these in the card section, even though they are connected to the accounts? Can't for the life of me remember, got brain freeze durr!!

Plus will the OR contact my landlords? What if anything will/can my landlord do? We are planning to vacate the premise at the end of April anyway when our agreement is up but can they ask us to leave before hand. Who is the lease under? DH or joint? If there is a bankruptcy clause they may be able too but they have to give you 2 months notice and if you play it right you can eek it out till you move anyway.

I am expecting baby number 3 in May, can i include in the SOA things i will need from May for the baby No, it must be as per your situation is on the day you petition. If things change later you notify the OR of those changes.. Plus i am hoping to get the surestart maternity grant of £500 to buy things for the baby, it has to be paid straight into an account will the OR take this from me? No this is for your baby.

Sorry for all the questions i have so many i keep thinking of!

Hope some of that helps

deedee_3

SNAP!!!:beer::beer:

Dodger61

Hi Tinkerbell,
I notice you mentioned you have a Halifax current account. Halifax WILL close this. I had a cash card account ( no credit or cheque books) with Halifax and got a letter saying they had noticed I had appeared in the London Gazette ( if you go BR your name will be published here ) Move all monies to the Co-op or Barclays. Good luck, going BR will give you a brighter new life! Wish I had done it earlier!!

tinkerbellescrew

Thanks deedee and Peachy.

One probably with listing the credit cards i no longer have, i have no clue on there numbers as cut them up or returned 3 years ago when first entered the DMP.

Also one last thing, when i first entered the DMP 3 years previous, i initially went for an IVA, but was rejected by the creditors as they felt the re-payments would be to low. Do i put this in the section about previous IVAs or not?

Also does it matter whose account DD's will leave from. Probably going to do all bills from OH's account then i'll just transfer money into his account to cover my share, should i leave any spare money in my account or move over to OH's.
On the SOA do i include the childrens expenses ie haircuts, pocket money etc or just my own?

tinkerbellescrew

Thanks Dodger, i am hoping to have enough time to move everything over and close the halifax before the BR or pretty much soon after. How long after you did BR did halifax close your account.
I now wish i did BR 3 years ago instead of the DMP, oh well, live and learn.

deedee_3

The Halifax closed mine the next day :eek: So sort all money before you go bankrupt.

peachyprice

tinkerbellescrew wrote: »

Thanks deedee and Peachy.

One probably with listing the credit cards i no longer have, i have no clue on there numbers as cut them up or returned 3 years ago when first entered the DMP.

Also one last thing, when i first entered the DMP 3 years previous, i initially went for an IVA, but was rejected by the creditors as they felt the re-payments would be to low. Do i put this in the section about previous IVAs or not?

Also does it matter whose account DD's will leave from. Probably going to do all bills from OH's account then i'll just transfer money into his account to cover my share, should i leave any spare money in my account or move over to OH's.
On the SOA do i include the childrens expenses ie haircuts, pocket money etc or just my own?

Just put the companies, and approx balance, the OR will be able to gather the necessary info.

It doesn't matter who's account bills are paid from, once you're BR the OR doesn't monitor your account, you can do what you like with your money.

Yes, put all childrens expenses too, including clothes, school dinners and once activity per child per week, i.e swimming, dancing etc.

Dodger61

Hi Tinkerbelle,
I actually didnt declare my Halifax account, for no other reason, than I hadnt used it for ages and threw my card in the back of a draw and forgot about it. Halifax closed it about 2 weeks after BR. In my experience the Co-op are great and you can open an account just by a phone call. The phone is on their website.

sarchet

I would like some help on going bk what are the main things i should know before going bk.And what will happen to the house that i rent out but might be in negative equity any way.

How long does bk last will all bank accounts get frozen can u hold any kind of an account when in bk?

living with parter will this have any affect on her ?

will i have to pay anything back.