Ask a CCCS counsellor a bankruptcy question

jennie65

if you read previous posts that i have made the question I am trying to get an anser to are as follows.

Have opened post BR bank account at Barclays, but have a pre BR account an loan with them which they have linked all together on internet banking - how will this new account be affected when OR finally contacts bank?

How long does it generally take for OR to get in touch?

Will new charges being applied to loans and credit cards be included in BR or be considered new and liable for debt?
One of my creditors claims they will continue to put on charges until they hear from OR and that as this is new debt I will be liable to pay it.

I dont need to be told where i can get a bank account - I have one, thank you, but every time I ask these questions all I get told is where i can get a new bank account.

dimp81

hi all wondered if possible someone could answer a question just applying for a dro order can you put down social loan fund debt and overpayment of tax credits

boltonangel

Hi

I'm looking at going br shortly.

For years I've struggled with debt but have managed to juggle payments to keep afloat.
It's now got to the point where I can't do that anymore. I owe around £18k and only earn £160-200 per month and can't earn more because I'm struggling to find a job (I'm a mortgage advisor and now isn't exactly the best time to be one!) I understand that going br will mean banking jobs are a no go and that's fine as childcare makes working difficult anyway plus I'm looking to return to education in sept.

My questions are:

1. We have 2cars ( both in my name) one is on hp and I have agreed to hand this back rather than continue paying. Will the remaining balance be added to the bankruptcy total? The 2nd car is used by my husband for work and is worth £3.5k . When I hand back the hp car I am hoping to get a cheap run around in my husbands name. Is that ok and will we be able to keep them both?

2. As the debt is in my sole name I will go br on my own. My dh is the main earner and has been paying my debts and other bills but now we can't even do that. As I only earn a small amount what do I put as my expenses? Do I just list food? In reality all the money goes into the bank acc and the bills go from there. Do they take dh's salary into consideration?

3. I have just opened an acc with natwest for our banking. I do not owe anything to natwest- although I do owe £100 to rbs. The acc is joint but doesn't have o/d and only a solo card. My salary and benefits go into the acc.
When I go br what will happen with the acc? Do I just take my name off and add it at a later date?

4. Do I need to add benefits into my income . The benefits are joint tax credits and child benefit.

5. Is it likely that I will have to pay anything when br?


Thanks and sorry for all the questions.

debrag

If I have debt of below £13K will I have to get a DRO? If I went for BR could I OR decided I need a DRO instead?

I plan on increasing my income over the year.

debrag

thank you

CCCS_Sarah

debrag wrote: »

I am embarking on BR shortly after 21st May due to going from a full time job to LHA & JSA (hopefully).

1) How do I do my SOA?
2) How do I prove what my income will be as it will take awhile for my claim to go through?
3) Should I include dates for all my cc's in my 'cause of bankruptcy' & state the reason why I had to leave my job?

1) How do I do my SOA? If you need any help completing a SOA, you would be able to have an appointment with ourselves. We would be able to also talk in detail about the bankruptcy process. If you would like an appointment our helpline number is 0800 138 1111.

2) How do I prove what my income will be as it will take awhile for my claim to go through? When you have your appointment at the court you will sign an affidavit to confirm that the information you have provided is true. After your court hearing you will then have an appointment with the Official Receiver who will then look deeper into your finances. If you have any communication from the DWP, this maybe useful to have to hand.

3) Should I include dates for all my cc's in my 'cause of bankruptcy' & state the reason why I had to leave my job? Include any information that helps explain your circumstances.

Hope this information helps, if you have any further questions feel free to ask

Sarah

CCCS_Sarah

jennie65 wrote: »

if you read previous posts that i have made the question I am trying to get an anser to are as follows.

Have opened post BR bank account at Barclays, but have a pre BR account an loan with them which they have linked all together on internet banking - how will this new account be affected when OR finally contacts bank?

How long does it generally take for OR to get in touch?

Will new charges being applied to loans and credit cards be included in BR or be considered new and liable for debt?
One of my creditors claims they will continue to put on charges until they hear from OR and that as this is new debt I will be liable to pay it.

I dont need to be told where i can get a bank account - I have one, thank you, but every time I ask these questions all I get told is where i can get a new bank account.

Have opened post BR bank account at Barclays, but have a pre BR account an loan with them which they have linked all together on internet banking - how will this new account be affected when OR finally contacts bank?

blind-as-a-bat wrote: »

If the basic account is empty, the OR will dclare no intrest in it, it is then up to the bank if they allow you to continue useing it, as its Barclays (or co-op would be the same) they should, but it can never be fully guarrenteed im afraid, which is why it is always better to open the account AFTER BR, many have opened them before and have had no problems, but every now and then they close them, then allow you to open a new one no i dont get it either

How long does it generally take for OR to get in touch? The official receiver should be in touch the same day or soon after. If the OR has not been in touch I would recommend that you contact the court to chase this up.

Will new charges being applied to loans and credit cards be included in BR or be considered new and liable for debt?
One of my creditors claims they will continue to put on charges until they hear from OR and that as this is new debt I will be liable to pay it. As this is the same agreement any additional charges will be included in your bankruptcy.

I dont need to be told where i can get a bank account - I have one, thank you, but every time I ask these questions all I get told is where i can get a new bank account.

Hope this helps

Sarah

CCCS_Sarah

dimp81 wrote: »

hi all wondered if possible someone could answer a question just applying for a dro order can you put down social loan fund debt and overpayment of tax credits

Both of these would be included

CCCS_Sarah

boltonangel wrote: »

Hi

I'm looking at going br shortly.

For years I've struggled with debt but have managed to juggle payments to keep afloat.
It's now got to the point where I can't do that anymore. I owe around £18k and only earn £160-200 per month and can't earn more because I'm struggling to find a job (I'm a mortgage advisor and now isn't exactly the best time to be one!) I understand that going br will mean banking jobs are a no go and that's fine as childcare makes working difficult anyway plus I'm looking to return to education in sept.

My questions are:

1. We have 2cars ( both in my name) one is on hp and I have agreed to hand this back rather than continue paying. Will the remaining balance be added to the bankruptcy total? The 2nd car is used by my husband for work and is worth £3.5k . When I hand back the hp car I am hoping to get a cheap run around in my husbands name. Is that ok and will we be able to keep them both?

2. As the debt is in my sole name I will go br on my own. My dh is the main earner and has been paying my debts and other bills but now we can't even do that. As I only earn a small amount what do I put as my expenses? Do I just list food? In reality all the money goes into the bank acc and the bills go from there. Do they take dh's salary into consideration?

3. I have just opened an acc with natwest for our banking. I do not owe anything to natwest- although I do owe £100 to rbs. The acc is joint but doesn't have o/d and only a solo card. My salary and benefits go into the acc.
When I go br what will happen with the acc? Do I just take my name off and add it at a later date?

4. Do I need to add benefits into my income . The benefits are joint tax credits and child benefit.

5. Is it likely that I will have to pay anything when br?


Thanks and sorry for all the questions.

Hello,

I have answered your questions below, let me know if you need anymore information.

1. We have 2cars ( both in my name) one is on hp and I have agreed to hand this back rather than continue paying. Will the remaining balance be added to the bankruptcy total? The 2nd car is used by my husband for work and is worth £3.5k . When I hand back the hp car I am hoping to get a cheap run around in my husbands name. Is that ok and will we be able to keep them both?
2. As the debt is in my sole name I will go br on my own. My dh is the main earner and has been paying my debts and other bills but now we can't even do that. As I only earn a small amount what do I put as my expenses? Do I just list food? In reality all the money goes into the bank acc and the bills go from there. Do they take dh's salary into consideration? Any shortfall from the car that is on HP would be included in your bankruptcy. The problem that would occur would be the value of your other car. Although this is used by your husband for work this would still be classed as an asset. You should be able to downsize the value of the car and use any surplus funds for your fees.

3. I have just opened an acc with natwest for our banking. I do not owe anything to natwest- although I do owe £100 to rbs. The acc is joint but doesn't have o/d and only a solo card. My salary and benefits go into the acc.
When I go br what will happen with the acc? Do I just take my name off and add it at a later date? This bank account maybe frozen. To ensure that you have access to your money I would recommend that you withdraw any money the day before you go bankrupt and then open another account after bankruptcy.

4. Do I need to add benefits into my income . The benefits are joint tax credits and child benefit. This would need to be included

5. Is it likely that I will have to pay anything when br? It would really depend on your situation. If you had over £100 surplus in your budget then it is likely that the OR could ask you to pay an income payment arrangement for three years


Hope this helps

Sarah

CCCS_Sarah

debrag wrote: »

If I have debt of below £13K will I have to get a DRO? If I went for BR could I OR decided I need a DRO instead?

I plan on increasing my income over the year.

If your income was to increase over the £50 then a DRO would be revoked by the Official Receiver, so if your income was to increase then a DRO would not be the best option for you.

With regards bankruptcy, if your income was to increase and your surplus was to go over £100 then you would have to inform the Official Receiver and you would have to pay an income payment arrangement.

The fees for a DRO would be £90 and if you went down the route of bankruptcy if would be £510.