Ask a CCCS counsellor a bankruptcy question

CCCS_Sue

StillStanding wrote: »

Hi,

Really need some advice on my situation please. I'm currently on a DMP with yourselves, and whilst some of the smaller debts on it are going down nicely, the larger ones are still adding interest despite all my pleadings! I'm also at risk or redundancy in a few months time.
My wife is American and her father sadly passed away at the beginning of the year. Her mother is living by herself in the States and is struggling to cope. My wife has struggled to find work over here and is thinking of moving back to the States to be with her mother and get her old job back. Obviously I'd want to join her too, but I just wanted to know how going BR affects moving abroad ? I've heard different stories from different people! I want to do everything fair, and by the books.
We have a mortgage which is just in my name, but the value of the house is barely more than the mortgage.
Any advice would be much appreciated!!
Thanks

Hi stillstanding and thank you for your message


I have attached a link to a booklet which explains what happens to your home in bankruptcy from the Insolvency Services website
http://www.insolvency.gov.uk/pdfs/guidanceleafletspdf/home.pdf

With regard to how bankruptcy could affect you if you moved abroad, you could contact the American Embassy for further advice on this as different countries have different criteria.

Alternatively, you could ask the Official Receiver who was dealing with your bankruptcy for further advice.

You would need to inform the Official Receiver of any changes in your circumstances whilst you were bankrupt.
This would include moving abroad, and any changes in income due to job changes.

I would recommend that you call our client support team for a review of your situation and to see if bankruptcy is your best option as there may be other solutions you could consider.



Regards
Sue

CCCS_Sue

twix79 wrote: »

Hi i have been reading lots information on this site and have decidied that bankrurtcy is the best way forward i have looked at all the figures and when I have done my statment of affairs and included my other halves contributions, i am left with a surplus of £800 this is obviousley far less than what I shoulkd be paying, would I pay all this in to my bankruptcy, and could this be grounds for the judge to decline my bankruptcy

Hi twix79 and thank you for your message

It is difficult to say without knowing your full financial situation.

Bankruptcy is a form of insolvency, so your unsecured debts need to outweigh your assets, such as property or vehicles, for it to be considered.
If you make yourself bankrupt, your creditors write off your unsecured debts. This allows you to have a fresh start.

If you have a surplus after paying all your priority bills and essential living costs, then the Official Receiver may request an Income Payment Arrangement (IPA).
I have attached a leaflet which explains this in more detail for you.

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


Making yourself bankrupt is a big step to take and requires expert advice. If you are considering making yourself bankrupt, you can use our online debt counselling service, which will provide you with the most appropriate solution to your debt problem. Alternatively contact our free Helpline on 0800 138 1111.
If it is an option for you and you decide to go ahead, we can also offer you extra support through our bankruptcy support team. They can answer any questions you have about bankruptcy.

Regards
Sue

CCCS_Sue

davo69 wrote: »

can any one help i have the same name as my dad i went behind on a credit card and got a mark put on my credit ref the problem is i am no getting all bills coming to my adress that are for my dad not me i dont no were my dad lives now what can i do to stop this happening. please help thanks

Hi davo69 and thank you for your message

I suggest you return the letters unopened, and write on the envelope 'not at this address'.

You could write to the creditor at the return address on the envelope explaining that your dad doesn't live there any more and you have no forwarding address.
Send it recorded delivery so that you have proof of sending.

They are not allowed to continue harassing you if the debts are not yours.

You can report them to the Office of Fair trading if they continue.

Regards
Sue

CCCS_Sue

ready123 wrote: »

Hi

I am three years into a DMP with another four years to go. I'm in a long term relationship but we don't live together (mostly because my partner has a good credit record and I don't want my debts linked). However, we'd really like to live together and get married. Am I right in presuming that once married 'my' debt becomes 'our' debt? Would we be better waiting until my debt is paid? Or is there any way we could get married without me having to 'share' my debt and damage my partner's good rating?

Cheers

Hi ready123 and thank you for your message

If the debts are all in your name, there are no joint debts,and your partner has not acted as guarantor on your behalf, then their credit rating should not be affected.

Regards
Sue

CCCS_Sue

Nearlyuseless wrote: »

I have an appointment for tomorow for bankruptcy but I am still filling in the forms, can you aswer these questions please.

I haven't worked for about 3 years and I can only find some extremely old P60 so I have no tax code to put down and running out of time.

My husband and I are on benefits and our everyday bills are more than our incommings, will that matter.

It is just me going bankrupt.

Thanks.

Hi
When you go bankrupt, the OR will contact the tax office and your tax code will be set at nil, so you do not need to worry about having a tax code.

If you have a deficit budget, you may need to prove to the judge that you can afford to live. If you are not able to do this, the judge can decide to annul the bankruptcy, and you could lose your fee.


Regards
Sue

In_a_mess

Hi I wonder if anyone can help me with this. I should be able to get the funds together for bankruptcy in september. The problem is that I have a car on HP with Santander, which has a balance of about £560, which a family member is willing to settle on my behalf if I can get the fees for BR. I have already spoken with Santander and they have stated that they will definitely take the car on bankruptcy unless the OR adopts the agreement. My question is should I settle the car prior to BR or wait until after to see if the OR allows me to keep it, thus risking the car being taken by Santander. It is worth about £2200, about 6 years old and I can put together a case as to why I should keep it (work - 10 miles away from home / with no car my child care costs would be £300 per month MORE than the cost of a car as the family member who currently helps would not be able to assist with such long days (6:15am starts if I have to bus to work). If I pay off the car (or someone does this for me) will the OR penalise me in any way for settling a debt. I would really struggle without a car but at the same time if the car will be recovered anyway I do not want Santander to benefit from any additional payments. I am so confused. Any help would be appreciated.
Thanks
D

CCCS_Sue

In_a_mess wrote: »

Hi I wonder if anyone can help me with this. I should be able to get the funds together for bankruptcy in september. The problem is that I have a car on HP with Santander, which has a balance of about £560, which a family member is willing to settle on my behalf if I can get the fees for BR. I have already spoken with Santander and they have stated that they will definitely take the car on bankruptcy unless the OR adopts the agreement. My question is should I settle the car prior to BR or wait until after to see if the OR allows me to keep it, thus risking the car being taken by Santander. It is worth about £2200, about 6 years old and I can put together a case as to why I should keep it (work - 10 miles away from home / with no car my child care costs would be £300 per month MORE than the cost of a car as the family member who currently helps would not be able to assist with such long days (6:15am starts if I have to bus to work). If I pay off the car (or someone does this for me) will the OR penalise me in any way for settling a debt. I would really struggle without a car but at the same time if the car will be recovered anyway I do not want Santander to benefit from any additional payments. I am so confused. Any help would be appreciated.
Thanks
D

Hi D

It is entirely at the discretion of the Official Receiver whether you would be able to keep the car for work. It is up to you to put a good case forward as to why you should be able to keep it. You may be requested to sell it and get something cheaper, depending on the actual value.

Ultimately, it would be the OR’s decision.

With regard to paying off the debt, it could be regarded as preferential treatment over the other creditors.
I would recommend that you discuss this with the OR who is dealing with the bankruptcy.
I have attached a link to this website which has more information and advice on cars in bankruptcy that you may find helpful
https://forums.moneysavingexpert.com/discussion/1056247

Regards
Sue

Cissie1

Hi I wonder if you can help me with a quick question. My husband and I have booked a date in court to file for bankruptcy after seeking advice from the CAB. I just wanted to ask if it is possible to earn too much to be granted bankruptcy? We have debts of over £80k plus a mortgage of £120k (house is being repossed) but as we are both working in relativley good jobs I am worried this will go against us.
Thanks
Cissie

charliewatts

Hello

A friend at work has a mountain of debt, is having banks calling him every 5 minutes demanding money, people round the house etc. He's been disussing this with CAB and really he's waiting for someone to make him bankrupt.

The CAB have advised him to wait and keep paying the amounts they have arrange with the credit cards and mortgage company. Basically he'll never pay off the debt.

At the moment he has a CCJ regarding a credit card which is small fry to the rest of the debt he has.

What I don't understand is why he won't declare himself bankrupt? He says that there are fees to pay and that the black mark against him will be for his lifetime. Whereas if he is declared bankrupt it's only 6 years and no fees.

I'm concerned that he's waiting to be declared bankrupt for no good reason and the ongoing nature of his position is not doing him any good mentally and he's been very, very down. Also he grasp of English isn't that great so I suppose I'm looking out for him.

Does it make a difference if your made bankrupt or someone declares you bankrupt?

As an aside, he has two properties if that makes a difference.

CCCS_Sue

Cissie1 wrote: »

Hi I wonder if you can help me with a quick question. My husband and I have booked a date in court to file for bankruptcy after seeking advice from the CAB. I just wanted to ask if it is possible to earn too much to be granted bankruptcy? We have debts of over £80k plus a mortgage of £120k (house is being repossed) but as we are both working in relativley good jobs I am worried this will go against us.Cissie

Thanks

Hi Cissie
It would not depend on your income as such, but how much you have left after paying all your priorities, to offer your creditors, and how long it would take to clear the debt .
Without knowing your full financial situation, I am not able to say whether bankruptcy is your best option.
If you would like to discuss this further with one of our debt counsellors, you can call our free helpline on 0800 138 1111.
The counsellor will look at all your options and if bankruptcy is your best solution, we do have a bankruptcy support team who can offer further help and support.

Regards
Sue