Ask a CCCS counsellor a bankruptcy question

langfor

Hi there.

I was sequestrated 4 year ago after my wife and i had split out. All my debts before this was taken into consideration. My wife wasn't included and we have now got back together and she is now going to get sequestrated shortly to cover all these debts.

What i need to know is... Is my income taken into consideration even though my sequestration covers these debts. Also isn't it illegal for me to make payments to creditors that were included in my sequestration?

Thanks

ZOVI

CCCS_Sue wrote: »

Hi Zoe and thank you for your message

If you were to go bankrupt, then your income and expenditure sheet would need to show how much your husband was contributing to the household bills to give a true representation of how much you had left over after paying your share.
If you have a surplus of £200/300 left over after paying your share of the bills, towards a debt of £24,000, then I would advise you to seek further advice as there may be other options you could look at rather than bankruptcy.

If you would like to book an appointment with one of our trained counsellors you would need to contact our helpline free on 0800 138 1111. Lines are open Monday to Friday 08:00-20:00.
Alternatively you can visit our online debt advice facility called Debt Remedy. Debt Remedy would assist you in completing a financial statement and you would be provided with tailored advice on the best way to deal with your situation. This link will take you directly to Debt Remedy www.cccs.co.uk/ref/drcu

I have attached a leaflet for you which provides more information regarding IPAs
you can also look at.

http://www.insolvency.gov.uk/pdfs/guidanceleafletspdf/ipoipa.pdf



Regards,
Sue

Thanks Sue,

I am currently thinknig about an IVA I am discussing with a company and possibly arranging, I am still unsure it is what I want to do, its only because it is £180 a month and I will have NOTHING left a month for 5 years , but this is my own fault as I have been ignoring my debts and putting it all off from years ago

My partner is not my husband so they are not including his income.

Thanks Zoe

nursejo

Hi, am hoping someone can help me. I went bankcrupt in2007 and was discharged jan 2008. During this period i used my husbands accounts to have my wages paid into. We then moved a couple of times and when applied for accounts was turned down. After joining experian realised that we were still on electoral role in a former house where somebody was now being investigated for fraud. Eventually it seems, according to Experian, that everything looks up-to-date and ok on report, although the only problem might be that there is no evidence of finances on my report.I have recently applied for lLOYDS tsb AND HAVE BEEN TURNED DOWN AGAIN. pLEASE CAN YOU ADVISE ME of the best way to procedd, I really dont want to have to pay for a bank account, but dont know what else to do???????? Kind regards nursejo.

philnicandamy

I take it your on the elecoral role now where you are?
Have you tried bacrlays or the co-op? they offer a basic account usually without any hassles, bankuptcy is an individual thing and wouldnt go on an address..

SarahNeedle1872

Hi all,

Two questions that have come up during my research... My options are going BR or a 12 year DMP...

1) I have a car worth approx £5k. What's the likelihood that I will have to sell it - I do a 40 mile round trip to work 5 days a week...

2) I already have a current account and a basic bank account with the Halifax - not one of my creditors. Would I need to open another basic account during BR?

Thanks

Sx

tigerfeet2006

SarahNeedle1872 wrote: »

Hi all,

Two questions that have come up during my research... My options are going BR or a 12 year DMP...

1) I have a car worth approx £5k. What's the likelihood that I will have to sell it - I do a 40 mile round trip to work 5 days a week...The OR usually allows £2k for a car essential for work. You have 2 options a) sell the car and buy a cheaper one and use some of the money for the BR fees, make sure you sell for what the car is worth. Give the rest of the money to the OR. b) Wait for the OR to take the car, auction it and give you £2k to buy a new one.

2) I already have a current account and a basic bank account with the Halifax - not one of my creditors. Would I need to open another basic account during BR? Halifax will drop you like a hot potatoe as soon as they know you are BR, they hate BR's. Open a Co-op Cashminder or Barclays Cash account and transfer all your DD's, wages etc asap.

Thanks

Sx

Hope that helps.

SarahNeedle1872

That does, thanks

marfan_not_martian

Just wanted to ask a counsellor. I have been on DMP for a while but my DLA income stopped and I had to go to a tribunal so a DRO was applied for and granted and I was told that if the DLA was ever reinstated then although I had to inform the insolvency office that it would not be used to pay for debts as it is given to help me pay for care costs etc for my needs. What I wanted to ask is - if the DLA is reinstated and back pay is due what would happen to the back pay - do the Insolvency office take it from you or is it still classed as income to use for care needs etc also if they granted mobility - would this be taken as excess income or again would it be classed as money for my needs. I would be grateful for any advise as I would like to buy a mobility scooter should the tribunal go in my favour. Many thanks

Just wanted to add in my income/exp it is a joint income etc
we have made no allowance for clothes, medicines, dentist, hairdressing, emergency sundry, activities, vehicle servicing all of which we have had to pay for but have been helped out by family which we cannot do forever

DTB6453

Hi,

I am 25 and been to uni and on top of my uni debt i managed to rack up £5,500 worth of credit cards and overdraft debt (stupid and irresponsible i know and have truly learnt my lesson!!) Iit may not sound like a lot but it serious hangs around my neck like a noose!

2 and half years ago i decided to do something about I was missing payments every where so no credit rating to be able to move them around to a low interest card so went to my one and only option the CCCS they are government funded and help you make a minimum payment that you can afford and with most companies they even get them to stop the interest and you are basically holding your hands up saying im in trouble, I know I need help, let me pay off the debt.

3 out of my four debts cancelled the interest and are on the decrease and looking like im going to be paying them off within the year! But there is on credit card where on my CCCS statement should be £1.490 and on my actually credit card statement its £3740 so in in 2 and half years i have paid off £60 when I pay that particular credit card about £70-£80 a month! I dont even think I am hitting the minimum payment anymore and really dont know what to do. I have wrote letters been in to speak to them and they just say its has to be paid and basically its my fault or offer me a loan where I will have to pay back £11,000 which personally i think is a joke! I accept that im in trouble, im holding my hands up but surely there must be a way around this that I can get help to stop them charging the interest so it can start to go down! I have tried not paying them anything so it goes to debt collection but when I start making regular payments the bank must buy the debt back and start racking on that interest again.

Im in real need of some good advice cause at this rate im never going to be able to save build my credit rating up and buy a house my car is breaking and in dire need of a new one but until this is gone my life cannot change! I pay every penny i can so this debt but nothing changes £60 in 2 n half years when I have paid them nearly £2000 to me is a absolute joke!

I hope you can help

mkgilly

I have recently called in RTA business sales to help me sell my business. I havn't yet sent the the final form back to them but they have taken £500 plus VAT off me for advertising etc as I was told.
Now having lost a large part of the work I do due to a company pulling out of UK and going home to Spain, I feel my only option is too keep the business and work myself also cutting back on employees hours.(I only have 2 employees) Taking on more work for my cleaning business isn't an option as nobody wants cleaners and my work has steadily declined since the credit crunch started.
My business was going on the market for £29950 to drop to £25000.
I know I will loose the £500 plus VAT but they will also apparently want the £3000 that they were going to take from the sale. we know this from reading complaints from other companies selling with them.
One of my options is to consider bankruptcy as we were selling the business to pay off cards which all together stand at about £16000.
We live in a private rent as we can't have a mortgage due to my partner's debt which he handles through 'Payplan', so therefore private rent is our only optin at £750 a month.
I basically need to know where we stand if I declare bankruptcy as we need to keep a roof over our heads. Credit cards I don't need so that doesn't worry me. Just day to day living.


Thank you
Gill