Ask a CCCS counsellor a bankruptcy question

System

mafflondon wrote: »

Thanks Pavan, I am in touch with CCCS but there are always further questions...
My next question concerns Nil Tax Code and Housing Benefit. I understand that the OR would consider reducing any IPA if a local authority views the nil tax code as additional income and reduces housing benefit accordingly.
However, is there any advice on what would happen if the bankrupt had a very small IPA i.e £20-£60 or no IPA at all, a nil tax code and in receipt of Housing Benefit? This could leave the bankrupt i.e. me almost desititute as Housing Benefit pays for about a 1/3 of my private rent.
So, any idea if the OR, faced in this situation, would consider not putting me on a nil tax code to prevent loss of HB or removal of nil tax code if HB award was taken away from me?

Hi and thanks for your reply.

The tax code just means you tax affairs are being handled by the Official Receiver; you won’t be receiving any additional income.

As your housing benefit is means tested and you won’t be receiving additional money then your benefit will not be affected.

I hope this helps.

Kind regards,

Mat

System

Goldrill wrote: »

Hello - could I have some advice please?

I'm going to court to put bankruptcy papers in on Tuesday, but I have two debts which are a bit odd, and I don't know quite how to fill the form in for them.

My business (Ltd Co) went under in january and I have got a Winding Up order, and it's about to go to the OR. The business owed our premises landlord a substantial sum. He claims I have personally guaranteed this, and I did, but we have nothing in writing to prove it. I have no desire to rip him off and would like the debt included - as there will be assets from BR but not from the company. Can I put this on the form, and how should I do it?

Secondly, I guaranteed an item the company had on HP. The owners haven't been to pick it up, are still invoicing and won't give me any final settlement figure - depsite, obviously, several phone calls, letters etc. I need to show this debt as I will owe it - should I put an approximation of what is likely to be due?

Many thanks for any help - the rest of it had been quite straightforward but I knew it was too good to be true!

Hi and thanks for your message.

You can list both debts on page 14 of the bankruptcy forms.

In regards the HP debt as this is still a secured debt (on the item) you should make a note in the side column that this is a future shortfall.

You don’t need to know exact amounts at this stage and just need to fill the amounts in at you current best estimate.

We have a dedicated bankruptcy team that assist with all bankruptcy advice free of charge. It might be worth giving us a call for some advice prior to petitioning. When petitioning for you bankruptcy you may be asked who you sought advice from and it’s best to have taken some advice from an impartial third party.

I hope this helps.

Kind regards,

Mat

System

gibboking wrote: »

Hi!! Firstly can I just say a BIG Thank youto CCCS....You have been a great support to me and my family for around 6 years now!!!

Now onto serious matters...

My husband and I are seperating and He is seriously considering Bankruptcy...I just wondered if this wil have an effect on me at all?

Our home is in negative equity - We owe £128k on the mortage and we just had it valued at £110K We also have a charge on the property of around £5k.

All of our debts are in a DMP with CCCS and they are all in my husbands name apart from the one which is charged to our property.

The main questions I have really are: are they likely to take the house if my husband was to go bankrupt and are they likely to make me go bankrupt too?

Sorry if info is a bit vague...please let me know if you need any more info.


Thanks in advance

Hi and thanks for your message.

We’re glad we’ve been able to help and we should be able to continue to help you through your changed circumstances also.

As your house is in negative equity you may be allowed to retain the property as long as you can maintain payments on the mortgage. We’d need more details on your situation to give more specific advice.

I’d recommend that as we already have access to your details that both you and your ex partner give us a call as we can advise on all aspect of bankruptcy and how it would affect both of you.

Our bankruptcy team can even assist with filling in the bankruptcy forms and giving advice on what to expect when petitioning for bankruptcy at the court, this could be valuable for your ex partner.

I hope this helps.

Kind regards,

Mat

morleycallum

sieve wrote: »

You can try for a Barclays Cash Card account - I have one and I am an undischarged bankrupt. Bear in mind that you may well not be allowed the online banking though, even though they will give it to you to start with and say it comes with the account (mine was disabled a few weeks afterwards with no warning at all).

Cheers

S

[FONT=&quot]With the Cash Doctors you can get up to $600 within 60 minutes once you apply for the loan. Your first cash advance will cost you only one cent, but the second fee will cost you $45. [/FONT]

danpride

Hi,

I have a hearing on Thursday for a bankruptcy from HMRC. I want to apply for an IVA and need time to submit my outstanding tax returns before I can make the proposal.

HMRC have advised me to fax a letter to the High Court and themselves for an adjournment.

Is there a template I can use for this letter?

Fruit_and_Nut_Case

morleycallum wrote: »

[FONT=&quot]With the XXXX XXXXXXX you can get up to $600 within 60 minutes once you apply for the loan. Your first cash advance will cost you only one cent, but the second fee will cost you $45. [/FONT]

:spam: reported.

Goldrill

Thanks for the advice Mat - very much appreciated. Bankrupt as of 10 o'clock this morning - now just got to get it all together for big OR interview about the company tomorrow!

System

Jaffa_cake wrote: »

BIG Thank you to CCCS from me too, I have been in a DMP with them for over a year and they administrate a monthly payment of £160 to my creditors. This has been a great help.

This figure of 160 is derived what is calulated to be my disposable income, made up of a monthly wage of 1,100 and just under 400 per month which is from my Wife's contributions based ESA. We had to go into the DMP as my wife became too ill to work nearly 2 yrs ago, and has been very poorly from then onwards.

She had the dreaded call saying her ESA will end on the 30th of April, and from what we can see there is no other benefit available to her from now on and of course she is not well enough to work.

I really would like to carrry on paying my DWP but can't see how, So is bankruptcy an option as I work full time now and have no realistic chance of increasing my earnings, if anything I could do with more time at home to help my wife.

Hi and thanks for your message.

Thanks for your kind words about our service.

It could be that bankruptcy is now an option for you depending on your circumstances. If it is the correct solution we could guide you through the process.

As you are already a client and we have access to your details I’d recommend that you give us a call.

I hope this helps.

Kind regards,

Mat

System

danpride wrote: »

Hi,

I have a hearing on Thursday for a bankruptcy from HMRC. I want to apply for an IVA and need time to submit my outstanding tax returns before I can make the proposal.

HMRC have advised me to fax a letter to the High Court and themselves for an adjournment.

Is there a template I can use for this letter?

Hi danpride and welcome to the forum.

We don’t have a template letter for this.

I’d recommend that you gather details of your income and expenditure and your debts and give us a call as soon as you can on 0800 138 1111. We’re open Monday to Friday 8am - 8pm.

If you phone us it may be possible to refer you directly to a counsellor for immediate advice. Alternatively, we will arrange for an appointment to be booked at a time convenient for you.

We would also be able to give you guidance in regards an IVA and if this would be possible.

I hope this helps.

Kind regards,

Mat

shazmg

I have sent a private message asking for advice.