Ask a CCCS counsellor a bankruptcy question

StepChange_Pavan

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The CCCS MoneyAware team
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puddleduck57

My daughter & I have just filed for bankruptcy, we will lose our home & have been trying to find one to rent. This is proving to be very hard as we do not have a guarantor or 6 months rent to pay up front. Have you go any suggestions as to where we should go for help in this matter?

Gray-Fox

Situation:

I want to keep my motorcycle for recreational and life purposes. It is not necessary for work because I am able to walk to work and back (but I would use it anyway as the walk is still 15mins), however as a high level athlete, I need to get to training and back every day (which would cost me a lot in terms of travel). I'm certainly not prepared to knock my career on the head because I'm BR, it's a ridiculous proposition. The OR is trying to claim my vehicle as I am not in work at present (but will be starting a job in Sept). They have told me to write a letter outlining the reasons that I'd like to keep it.

The other of my reasons is because I use it to go and visit my disabled Mother every other weekend. If I had to pay train fares to go and see her (London-Sheffield) it would cost me more than it does on my bike, so it just seems more beneficial to my estate to let me keep the bike, which at present isn't even roadworthy (it needs an MOT and needs a top-end rebuild and a new battery - work which I can do myself but at commercial rates would cost the OR around £500-£700).

Question:

Are my mother's disability and my sports career valid reasons for exemption?

kastlekaos

My ex husband has been bankrupt for just over a year. The only asset he had, was his share of our marital home which I still live in with our 3 children. The insolvancy company are after his 50 % share or are going to force me to sell. They will not accept anything less that 50%.

I can't understand why I'm the one having to pay off HIS debt and therefore in effect making myself and the children homeless.

Any advice would be appreciated.

System

puddleduck57 wrote: »

My daughter & I have just filed for bankruptcy, we will lose our home & have been trying to find one to rent. This is proving to be very hard as we do not have a guarantor or 6 months rent to pay up front. Have you go any suggestions as to where we should go for help in this matter?

Hi puddleduck57 and welcome to the forum.

There are number of solutions you could look at. First off I’d recommend that you put your name down at the Local Authority, I’d also recommend that you contact Shelter the housing charity for some further advice.

Generally if you approach a letting agent they will require 6 months deposit, you might find this is not always the case with a private landlord; you could even offer a private landlord and extended term of occupancy in return for a lower upfront deposit.

The DWP also offer a budgeting loan, under your bankruptcy you would only be allowed up to £500, if you required more than this you would need to check with the Official Receiver, either way you would need to be careful about budgeting for repayments but this could help with a deposit.

I hope this helps.

Kind regards,

Mat

System

Gray-Fox wrote: »

Situation:

I want to keep my motorcycle for recreational and life purposes. It is not necessary for work because I am able to walk to work and back (but I would use it anyway as the walk is still 15mins), however as a high level athlete, I need to get to training and back every day (which would cost me a lot in terms of travel). I'm certainly not prepared to knock my career on the head because I'm BR, it's a ridiculous proposition. The OR is trying to claim my vehicle as I am not in work at present (but will be starting a job in Sept). They have told me to write a letter outlining the reasons that I'd like to keep it.

The other of my reasons is because I use it to go and visit my disabled Mother every other weekend. If I had to pay train fares to go and see her (London-Sheffield) it would cost me more than it does on my bike, so it just seems more beneficial to my estate to let me keep the bike, which at present isn't even roadworthy (it needs an MOT and needs a top-end rebuild and a new battery - work which I can do myself but at commercial rates would cost the OR around £500-£700).

Question:

Are my mother's disability and my sports career valid reasons for exemption?

Hi Gray-Fox and thanks for the post.

This is really down to the Official Receiver; I think your strongest argument is the cost of train fares to visit your mother.

You might also consider if you know anyone (family member or friend) who would offer money into the bankruptcy in lieu of you keeping the bike.

I hope this helps.

Kind regards,

Mat

System

kastlekaos wrote: »

My ex husband has been bankrupt for just over a year. The only asset he had, was his share of our marital home which I still live in with our 3 children. The insolvancy company are after his 50 % share or are going to force me to sell. They will not accept anything less that 50%.

I can't understand why I'm the one having to pay off HIS debt and therefore in effect making myself and the children homeless.

Any advice would be appreciated.

Hi Kastlekaos and thanks for your post.

You could offer to buy out his share of the property if you could afford it. A third party could also buy out his share to be paid into your ex husbands bankruptcy.

Beyond this I would recommend taking some legal advice, I would also recommend speaking directly to the Official Receiver dealing with your husband, he or she may offer acceptable alternatives.

I hope this helps.

Kind regards,

Mat

Gray-Fox

CCCS_Mat wrote: »

Hi Gray-Fox and thanks for the post.

This is really down to the Official Receiver; I think your strongest argument is the cost of train fares to visit your mother.

You might also consider if you know anyone (family member or friend) who would offer money into the bankruptcy in lieu of you keeping the bike.

I hope this helps.

Kind regards,

Mat

Hi Mat, thanks for your response.

So assuming they let me keep the bike, and I wanted to move to new accommodation. Would it be OK for me to then sell the bike in order to fund my rent/deposit in advance?

Thanks.

jayney123

Hi,
Hope someone can help please.
I have a relative who died two weeks before my discharge. They did not leave me anything in their will BUT the beneficiary (who does not know about my BR) wants to change the will by 'deed of variation' to give myself and a few other relatives a cash amount.
I know I have to inform the AIB, as I'm on an IPA, but will I have to surrender the whole amount to them as the date of death was before my discharge but the date of the 'deed of variation' will be dated after my discharge.
Hope someone can help, thanks.

notenoughtogoround

I was made bankrupt in March 2009 and have been paying £383 every four weeks ever since. I recently contacted the insolvency service to get a reassesment of my payments given some incomings / outgoings have changed. I also enquired about when I could expect to be discharged.

Turns out I was discharged back in April 2010. Nice of someone to tell me. My question is given I have been discharged should I have been continuing to make payments? If not I am owed backdated money?

Any advice at all would be greatly appreciated, thanks.