New!! Plus a few question.

pinkbabycakes

Hello All

Been reading lots of threads on here, what a wonderful forum! I've decided to go bankrupt, and I have a few questions if anyone can help? I'am 27, recently got married, have a 2yr old little boy and another baby due in May. The mortgage and bills are in my husbands name, and always have been, even before we were together. I owe about £25,000 on loans and credit cards, which started when I was 18, very stupid, and had no clue about money. Been with CCCS for 3 years. Things have changed, we had a baby, so now only work part time, which is self-employed work. My shifts change every month, so does my wage. Going to take at least 20 years to pay it off through CCCS, even longer once I am on maternity leave. I have 14 different creditors, a lot of which are now with various debt collectors, and I have just been issued my first CCJ. This is why I have decided to go bankrupt. I feel I have nothing to lose, I have no assets. This is both advise from CCCS and from a solicitor. Sorry to go on!! This was just a bit of back ground!! I hope going BR is the right thing. I do have a couple of questions in getting started though!!

Do I have to go to my local court first, or if I fill out the forms online, do I then go to court? I am confused about whether to do it online or on paper.

What would I put as my monthly income?! Last month I got paid £1050, the month before £900 and the month before that £600. In May when the baby is due, I will be on Maternity so my income will only be maternity allowance which is around £450 a month. I currently do not even put aside any for my tax either.

I've forgotten what else I wanted to ask!!

Thank you to anyone reading this far!!

xx

keepmyhouse

pinkbabycakes wrote: »

Hello All

Been reading lots of threads on here, what a wonderful forum! I've decided to go bankrupt, and I have a few questions if anyone can help? I'am 27, Hello there Im 29 with three kids, hard work arn't they??? recently got married, have a 2yr old little boy and another baby due in May. The mortgage and bills are in my husbands name, and always have been, even before we were together. I owe about £25,000 on loans and credit cards, which started when I was 18, very stupid, and had no clue about money. Been with CCCS for 3 years. Things have changed, we had a baby, so now only work part time, which is self-employed work. My shifts change every month, so does my wage. Going to take at least 20 years to pay it off through CCCS, even longer once I am on maternity leave. I have 14 different creditors, a lot of which are now with various debt collectors, and I have just been issued my first CCJ. This is why I have decided to go bankrupt. I feel I have nothing to lose, I have no assets. This is both advise from CCCS and from a solicitor. Sorry to go on! !have the CCCS passed you on to their BR team? They have with me, only prob you cant get through and its only open intill 5:30 and I can only try on my dinner hour. This was just a bit of back ground!! I hope going BR is the right thing. I do have a couple of questions in getting started though!!

Do I have to go to my local court first, or if I fill out the forms online, do I then go to court? I am confused about whether to do it online or on paper.The court just booked a date upon my request, my court will book over the phone. They said we will send you out the forms, to which I replied No thankyou, I a have begun filling out the online forms via insolvency service

What would I put as my monthly income?! Last month I got paid £1050, the month before £900 and the month before that £600. In May when the baby is due, I will be on Maternity so my income will only be maternity allowance which is around £450 a month. I currently do not even put aside any for my tax either. Im afraid im not sure, but I would have thought you would divide your yearly wage by 12???????? Im going BR Feb, and I know my tax cred will drop loads in Arpil as I will earn more this year than last, I have been told I will just have to ask the OR to review at that point.

I've forgotten what else I wanted to ask!!

Thank you to anyone reading this far!!xx

I have been coming on for the last week or so, and I feel so much better for it x x x

pinkbabycakes

thank you for your reply!

Maybe I should phone the court and see if they have a waiting list. It all seems confusing! Can I fill out my forms online now , but wait to actually go bankrupt in a couple of months when I have saved the money? Or do I need the money straight away after submitting the forms?

Still not sure what to do about my bank account. I already have a Barclays and a Co-op, which will get closed, and they are the ones I keep reading about to open!!

x

philnicandamy

pinkbabycakes wrote: »

thank you for your reply!

Maybe I should phone the court and see if they have a waiting list Some are pretty busy so be worth ringing to see..all depends though on how long it takes you to get the fees. It all seems confusing! Welcome to the club!! it will get easier as it goes along honest! Can I fill out my forms online now YEP you can , but wait to actually go bankrupt in a couple of months when I have saved the money? Or do I need the money straight away after submitting the forms? Nope you can print the completed forms off & present them at court when you've saved the fees

Still not sure what to do about my bank account. I already have a Barclays and a Co-op, which will get closed, and they are the ones I keep reading about to open!! Depends if you have debts with either bank? they might allow you to keep an account but downgrade it to a basic cashcard acc

x

Hope that helps a bit

pinkbabycakes

philnicandamy wrote: »

Hope that helps a bit

Thanks so much, I'll start working on the forms online then, and get onto the local court about waiting times. I think I may be able to afford the fees at the end of Feb, worst case end of March.

My Co-op and Barclays have no debt to them. They were opened since going on to CCCS, so are both basic bank accounts etc. Is there another bank I should try opening for after I am bankrupt to get my wages and benefits paid into??

I can't believe how friendly this forum is, I suddenly don't feel so alone.

x

philnicandamy

pinkbabycakes wrote: »

Thanks so much, I'll start working on the forms online then, and get onto the local court about waiting times. I think I may be able to afford the fees at the end of Feb, worst case end of March.

My Co-op and Barclays have no debt to them. They were opened since going on to CCCS, so are both basic bank accounts etc. Is there another bank I should try opening for after I am bankrupt to get my wages and benefits paid into??

I can't believe how friendly this forum is, I suddenly don't feel so alone.

x

If they are both BASIC accounts then the official receiver should show no interest in them and they in theory should be fine to carry on as normal....i've only known of 1 co-op basic account to be frozen in over 2yrs of being here....problem is no other bank will take someone who's currently bankrupt....you could as a temporary measure open a post office benefits account for benefits although wouldnt help your wages..

pinkbabycakes

philnicandamy wrote: »

If they are both BASIC accounts then the official receiver should show no interest in them and they in theory should be fine to carry on as normal....i've only known of 1 co-op basic account to be frozen in over 2yrs of being here....problem is no other bank will take someone who's currently bankrupt....you could as a temporary measure open a post office benefits account for benefits although wouldnt help your wages..

Errmmmm what about if I opened a Nationwide Cash Card Account for my wages??? I don't want to risk losing my wages if I keep them getting paid in to my Barclays account...?

philnicandamy

Nationwide usually freeze accounts....I wouldnt try as they are one of the less bankrupt freindly banks...as long as both those accounts you mentioned are BASIC no debit card/OD etc they should be fine....if by chance the accounts did get froze the OR can soon sort & release any cash

pinkbabycakes

philnicandamy wrote: »

Nationwide usually freeze accounts....I wouldnt try as they are one of the less bankrupt freindly banks...as long as both those accounts you mentioned are BASIC no debit card/OD etc they should be fine....if by chance the accounts did get froze the OR can soon sort & release any cash

Would Nationwide know I've gone bankrupt then? Sorry for the questions! Do you not open up the new account just before you are made bankrupt, then that bank account you don't need to declare? My Co-Op and Barclays are both basic, no OD or cheques, but I can use them in shops. Co-op is visa electron and Barclays is visa debit. When I opened my Barclays I had the option on the basic bank account to have a cash card, or one I could use to pay for things in shops.

philnicandamy

Nationwide would either find out through the london gazette (where your BR details are published..along with local rags or they may here from the OR) as I said as long as its a basic account I really cant see the OR taking an interest so you should be fine to continue with the accounts as you have

pinkbabycakes

Thanks so much for your help philnicandamy