banrrupt again

glam_jan_56

am i here again please bear wi me. not a clue how to read your messages. my hubby i love him dearly?has been trying to not tell me how much debt we in.after shouting an usual blaming him. well i settled down to await my fate. you see he went br with a buisness in the eighties an o.r. took everything even our small change.even the ironing board? cant go through it again....

fermi

It doesn't work that that nowadays (if it ever did).

You are allowed to keep things that are required for your domestic needs.

In fact, the OR will only interested in things that would fetch a lot of money. It costs them to collect, store and auction things. Most people don't have anything that it's worth the while for.

nervousmother

glam_jan_56 wrote: »

am i here again please bear wi me. not a clue how to read your messages. my hubby i love him dearly?has been trying to not tell me how much debt we in.after shouting an usual blaming him. well i settled down to await my fate. you see he went br with a buisness in the eighties an o.r. took everything even our small change.even the ironing board? cant go through it again....

Its quite common for hubbys to be dumb when it comes to these things, mine kept things from me, When I first new how bad things were I was devestated, the thought of loosing everything gutted me. With the help of this board I have found out alot about the procedure and what its like today. Although you have restrictions, and your money is not your own, they give a good allowance for living, sometimes you dont pay anything back at all:p
The Receiver will be interested if you have equity in your home, If you have a car thats worth over £1000 sometimes you can go up to £3k, He will want to know about things you have that are worth more than £500. They dont come to your house.
The court procedure itself is easy, not emotionally as I was a blubbering wreck, but the people there are really nice, understanding and not judgemental. They put you at ease.
oh and dont worry about your internet skills, we all have to start somewhere, just click on the reply button :j

Lensman_2

Hi Glam jan 56.

You need to work out how to reload this page to see the replies. Press the back button on your internet programme (it is an arrow pointing back) to get back to the main forum. Then go back in to your thread and you will see any new posts.

Being bankrupt doesn't mean you have to turn out your pockets. You will deal with someone called the Official Receiver. We call them the OR. It is their job to make sure they get as much as possible from your estate to pay creditors (people you owe).

Because it costs money to auction stuff from your estate off, they are only usually interested in items that might be worth over £1,000 each. So, if you have a painting worth £15,000 - prepare to loose it. If your TV is worth £500 you will probably be fine.

What exactly is happening with your situation? Do you have someone threatening to make you bankrupt? Or are you at the point that you can no longer cope? Is it personal debt or another business? Answers to these questions will help us to help you better. It does seem like we are a bit nosey sometimes, I felt that when I first joined. But it is so that we know what to advise for the best.

P.S. We do not supply a service for disciplining errant husbands I'm afraid...

nervousmother

Lensman wrote: »

Hi Glam jan 56.


P.S. We do not supply a service for disciplining errant husbands I'm afraid...

hmmmm I feel a business venture coming on here....

blind-as-a-bat_2

nervousmother wrote: »

hmmmm I feel a business venture coming on here....

Hmm i think i know someone who may have bet you too that one, but i am not saying an more than that:o :rotfl: :rotfl:

glam_jan_56

just found the reply button.cant get into personal message becauce of a pop up whatever that is.so 30000 debt no house. car not worth more than 1500 not a buisness this time but credit cards. half in my name half in darlings name.bless him.so better to both go bankrupt...if we can afford it.ha.it just the truama last time an i was only young then 27 years ago.they took everything even ironing board.i need advice

anniecave

have you done a statement of affairs? (income, expenditure, debts (at what rates etc) for you both?
you need to know what you are spending so you can make sure if you do go bankrupt then you have enough money left to live on?

tigerfeet2006

This is a good template to use for a SoA. When you get to format then click on the MSE button and then copy and paste it into here.
http://www.makesenseofcards.co.uk/soacalc.html

If you individually have less than £15,000 in debt then in April there is a new thing coming out called a Debt Relief Order (DRO) this may be suitable.
http://forums.moneysavingexpert.com/showthread.html?t=1385275&highlight=Debt+Relief+Order

Give CCCS a ring and have a formal chat with them and read as much as you can on here. Especially the Bankruptcy Help sticky at the top of the board. Ask any questions you need to.