Ask a CCCS counsellor a bankruptcy question

bankrupt_now

hi im looking to

bankrupt_now

hi im looking to open up a new mens hairdressing business but im 7 months into my bankruptcy, can i put my name down on the lease ? will the OR be able take any earnings? would i still be able to get discharged once my years up? obviously i will not be earning much at first maybe just manage to pay the running costs but im unemployed at the moment and it could be a nice fresh start for me which i really want to take. thanks

lauren_1

Will i lose my rented house if i go BR?
Can it be stipulated in a tenancy agreement?
Many Thanks

mummytotwo_3

Hi everyone, im new to posting on here and really need some advice. We are in a DMP through ccs which is for 8 years and that i dont mind, but we have recently received some news that has put our debt repayment out of the window. We had a house repossessed beginning of this year, and it was sold in may. Anyway, the shortfall is £20,000, we were in no way expecting this tops £10,000 going on our own independant valuations from a couple months previous to repossession, and an old debt of my husbands for £2500 has resurfaced leaving us with much more debt than we imagined and a timescale of at least 15 years to repay this which i find hard to swallow, so have decided to go br in the new year. Can i offer token payments to the creditors in order for us to save for the br fees - this all happened as my husband lost a well paid job and i had two children within 12 months. I now suffer with post natal depression diagnosed in july this year, and im sure our situation is making it worse. Any advice would be appreciated.

lancslass18

Hi there. I am very new to Forums but need some help. I was declared bankcrupt on 6 May 2009 and am still waiting to be discharged(fingers crossed)! I am currently unemployed, living in private rented accomodaton and in receipt of JSA, housing/council tax benefit. I am 52, single but want to get back to work after a couple of years on an emotional rollercoaster. How much will I be allowed to live on and keep from my salary if I am lucky enough to get a job before I am discharged and will I have to pay for many years?

lgc78

Hi,

please could someone help me with a question or point me in the right direction, regarding SOA form questions.


My question is: on the SOA form it asks what is my Partners income is? Do I just put down my Partners working income or do I need to add any Benefits, maintenance payments that she receives??

neverbeenknown

Hiya All

Just a quick question, though may come back with more ;-)

Filling in the Income section, and im currently on jobseekers allowance, which works out to about £278 a month, then it states "How much do other members of your household contribute each month to the household expenses" bearing in mind I moved back in with my parents, and at the moment they have been fantastic as im unemployed. What do I put in here as I really cant contribute to any bills at the moment, though things will change when I get a job. So do I state in this section what my parents are paying out each month, so when I get a job my soa will change to show payments to the household bills and etc or do I leave this question as zero?

Also in the section when I declare outgoings ive kinda filled in the section at the moment to show an outgoings of around £278 each month breeaking it down into all sections is this correct?

Any help would be appreciated

Thanks

Matt

CCCS_Matthew

Lummi wrote: »

Hi,

We are considering making my Husband bankrupt, at the moment his wages are paid into my Bank Account solely in my name, how would his bankruptcy affect my account?

Also we currently rent our flat from a private landlord (we have never missed a payment for over 4 years). Does the Bankruptcy mean they would be notified, as I feel this would count against us when we come to renew are tenancy and we are settled here?

Thanks in advance

Hi there.

Your account shouldn't be affected by your husband's bankruptcy if it's just in your name. If you're not in arrears your landlord shouldn't need to be informed of the bankruptcy. It's always best to check with your tenancy agreement though to make sure that the bankruptcy doesn't affected by the bankruptcy (it's not normally an issue though).

Regards,
Matthew.

CCCS_Matthew

bankrupt_now wrote: »

hi im looking to open up a new mens hairdressing business but im 7 months into my bankruptcy, can i put my name down on the lease ? will the OR be able take any earnings? would i still be able to get discharged once my years up? obviously i will not be earning much at first maybe just manage to pay the running costs but im unemployed at the moment and it could be a nice fresh start for me which i really want to take. thanks

Hello there.

You wouldn't be able to be the director of a limited company whilst bankrupt. You could work for the company, just not be the director. My knowledge of setting up businesses is pretty limited, but if you give Business Link a call I'm sure they should be able to advise you further.

If you started to take a wage from the business you would need to disclose this to the OR. If it meant that you had more than a £99 surplus after you've paid your living costs you may be asked to make a contribution towards creditors via an IPA.

It shouldn't have an affect on the timescale before you're discharged.

Hope this helps,
Matthew.

CCCS_Amanda

lauren_1 wrote: »

Will i lose my rented house if i go BR?
Can it be stipulated in a tenancy agreement?
Many Thanks

Hi Lauren_1,

You are always best to check your tenancy agreement, it can state that you are unable to live in the property and declare yourself bankrupt.

Regards,

Amanda