Going Bankrupt

leepy71

hello

I have finally decided to go bankrupt. This is my dillemma and need advice. I am moving out of my rented property tomorrow. I live part time with my girlfriend but she soesnt want me to go bankrupt at her address. I was going to use my parents as they should be ok with this. The only problem I can see is that my expenditure there will be limited so will the OR decide he wants a big chunk of my wages as i suppose it will look like i have a lot of surplus income. Also if I tell the OR i am moving in with my girlfriend and obviously i have to contributr to the bills will it get lowered. And how will this effect her?? I have been told that it will have no effect on her getting credit etc even though I am living there. I dont want to saddle her with my problems. Please please help

many thanks

robsimps53

you going bankrupt will not affect your girlfriend at all, she should not get worried about this as it is the person going bankrupt that it will be affected. Im guessing that by the time you get a court date to declare your self bankrupt you would have already of moved in with your partner there for you can put in your expenditure that you contribute to some bills and shopping which will then lower the amount the OR takes from you

im sure someone can make this a little more clearer for you but i hope this helps

thank
rob

leepy71

Will they take a big lump if I am at my parents address???

DaveBrum_2

Hi!
That depends on how much you have spare. If you have over £100 surplus as spare cash on your budget, then they will take a portion of it (if below £250, then 50% of it). However, this is only for 3 years.

robsimps53

what the Law says is that two adults should be able to live on £95 or there abouts, so after taking you expenditure into consideration they would normaly take the rest to pay back to your debt this could last upto three years

the best thing you could do is phone the insolvency help line, they will be able to give you more accurate answeres as im pritty new to this my self