Ask a CCCS counsellor a bankruptcy question

CCCS_Amanda

mummytotwo wrote: »

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.

Hi mummytotwo,

If you have looked into bankruptcy and decided that this is the best way forward then you would need to offer a token payment of £1 to your creditors. They may not like it too much and may contact you to increase your payment. If you let them know that you are going bankrupt when you can save up the court fee, they should give you some breathing space.

If you need any further advice on bankruptcy and the implications for you, contact our Client Support team – the number will be on your statement.

Good Luck!


Amanda

CCCS_Amanda

lancslass18 wrote: »

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?

Hi lancslass18,

If you find a job then you would need to contact the Official Receiver and let them know about your change of circumstances. They would complete a budget with you and they would ensure that you have enough money to pay all of your household bills, travel expenses, food, clothing, etc. Once they have deducted what you need from your income, they may set up an Income Payment Arrangement. This may mean you would be asked to contribute 50-70% of your surplus income for 3 years.

Regards,
Amanda

CCCS_Amanda

lgc78 wrote: »

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??

Hi there,

I think Matthew has answered this in a PM.

Regards,

Amanda

CCCS_Amanda

neverbeenknown wrote: »

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

Hi Matt,

As you are living with your parents in your parent’s house, and you are not contributing to the household bills, then you could leave this as zero. When you have your interview with the Official Receiver, just let them know that when you start working then you will need to pay board to your parents for your keep.

You have done the right thing by completing the outgoings appropriately and breaking it into categories. These will obviously change when you find employment.

I hope that this helps.

Regards,
Amanda

susannah1984

My partner and I are applying for bankruptcy. We have a British Gas bill we can’t pay and have been sent a letter from the collectors to make immediate payment, but we have no money to pay. Do I write to them to say we are going bankrupt and can’t pay, will they allow this? Also, we have a joint current account where all our wages and benefit is paid into, our bank will obviously freeze our account, so how will we get our money?

Please help?

lgc78

Hi,

I am new to all this, I have been looking about the forum for answers to the following question's if you could be so kind to help me or point me in the right direction. Please feel free to ask any questions that you might have.

This is my story......

I have a (joint)mortgage shortfall debt of approx £40k which was caused by the Ex walking out and not making any payment towards the monthly re-payments. (I tried to keep the house but couldnt make ends meet on my sole wage or get a fixed rate mortgage on my sole wage) which forced me/us to hand the keys back.....(Feb) this year.
Since the house was sold on by the mortgage company I have been making token payments as adviced by cccs. The debts have been caped and interest frozen. I make monthly payments every month.......then I find on the statement that the EX hasnt paid a thing..... just stupid old me.

I have had enough of all this now and I dont wish to go on a DMP or an IVA as I would have to pay back way to much and guess what the EX would walk away with out paying a thing, yet again.

I feel the only way for me to move on with my life and move on with my great new partner is to go BR as hard as it is my partner is 100% behind me.

Questions.....

1) My Partner has asked me to move in with her, will going BR cause any issues with my Partners house that she owns if I split the house hold bill down the middle with her?

2)could this be seen upon as an asset, now or in the future by the COURT,OR or any creditors?? if I am making 50% towards the house hold bills.

3) When going BR will they need to know about my Partners working income,
Benefits, maintenance payments that she receives??

4) My Partner owns her own house, can this have any issuse in bankruptcy??

5) If I go BR am I right that the (joint) Shortfall will be cleared off my debt and 100% passed over to my EX to deal with??

6) Would this mean that I would still have to make an IPA for upto 3 years as the debt is no longer mine or would I just have an IPA untill I am discharged??

I am asking for help with the above questions as one minute I get told one thing and the next another thing

Thank you.

msn1980

Hi everyone,

I hope Im posting in the right section...this is all a bit confussing for me so apologise in advance if I have hijacked somesones post !!

Please can you advise me on the following.

Im looking at going Bankrupt shortly and have my appointment booked for next week to see the judge but am also planning on going abroad before xmas for an extended period of time.

What are the implications of this , if any , and will this affect my application for bankrupcy ??
How long does the process take and will I be able to leave the country while this is going through ??

Any help and advise you can offer would be greatly appreciated.

Thank you in adance

CCCS_Sarah

susannah1984 wrote: »

My partner and I are applying for bankruptcy. We have a British Gas bill we can’t pay and have been sent a letter from the collectors to make immediate payment, but we have no money to pay. Do I write to them to say we are going bankrupt and can’t pay, will they allow this? Also, we have a joint current account where all our wages and benefit is paid into, our bank will obviously freeze our account, so how will we get our money?

Please help?

Hello,

Before you go bankrupt you will need to take your money out of your account so you still have access to this.

With regards your gas bill, you should contact your gas company and explain your situation and you may want to just make a goodwill gesture payment. Any outstanding arrears will be included in your bankruptcy.

Sarah

CCCS_Sarah

lgc78 wrote: »

Hi,

I am new to all this, I have been looking about the forum for answers to the following question's if you could be so kind to help me or point me in the right direction. Please feel free to ask any questions that you might have.

This is my story......

I have a (joint)mortgage shortfall debt of approx £40k which was caused by the Ex walking out and not making any payment towards the monthly re-payments. (I tried to keep the house but couldnt make ends meet on my sole wage or get a fixed rate mortgage on my sole wage) which forced me/us to hand the keys back.....(Feb) this year.
Since the house was sold on by the mortgage company I have been making token payments as adviced by cccs. The debts have been caped and interest frozen. I make monthly payments every month.......then I find on the statement that the EX hasnt paid a thing..... just stupid old me.

I have had enough of all this now and I dont wish to go on a DMP or an IVA as I would have to pay back way to much and guess what the EX would walk away with out paying a thing, yet again.

I feel the only way for me to move on with my life and move on with my great new partner is to go BR as hard as it is my partner is 100% behind me.

Questions.....

1) My Partner has asked me to move in with her, will going BR cause any issues with my Partners house that she owns if I split the house hold bill down the middle with her?

2)could this be seen upon as an asset, now or in the future by the COURT,OR or any creditors?? if I am making 50% towards the house hold bills.

3) When going BR will they need to know about my Partners working income,
Benefits, maintenance payments that she receives??

4) My Partner owns her own house, can this have any issuse in bankruptcy??

5) If I go BR am I right that the (joint) Shortfall will be cleared off my debt and 100% passed over to my EX to deal with??

6) Would this mean that I would still have to make an IPA for upto 3 years as the debt is no longer mine or would I just have an IPA untill I am discharged??

I am asking for help with the above questions as one minute I get told one thing and the next another thing

Thank you.

1) My Partner has asked me to move in with her, will going BR cause any issues with my Partners house that she owns if I split the house hold bill down the middle with her? The Official Receiver will look into this, If you do not currently live in the house its not a problem, However if you moved into the house you may have some beneficial Interest in the property the amount would vary depending on timescales and amounts.

2)could this be seen upon as an asset, now or in the future by the COURT,OR or any creditors?? if I am making 50% towards the house hold bills. Same answer as above.

3) When going BR will they need to know about my Partners working income,
Benefits, maintenance payments that she receives?? No, the court will just be looking at your income and expenditure.

4) My Partner owns her own house, can this have any issuse in bankruptcy?? Same answer as number 1

5) If I go BR am I right that the (joint) Shortfall will be cleared off my debt and 100% passed over to my EX to deal with?? It is true; if you were to go bankrupt your ex would be liable for the full balance.

6) Would this mean that I would still have to make an IPA for upto 3 years as the debt is no longer mine or would I just have an IPA untill I am discharged?? If an IPA is set you would need to pay this for 3 years, unless there was a change to your situation and you could no longer afford to pay this.



If you have any other questions, please feel free to ask

CCCS_Sarah

msn1980 wrote: »

Hi everyone,

I hope Im posting in the right section...this is all a bit confussing for me so apologise in advance if I have hijacked somesones post !!

Please can you advise me on the following.

Im looking at going Bankrupt shortly and have my appointment booked for next week to see the judge but am also planning on going abroad before xmas for an extended period of time.

What are the implications of this , if any , and will this affect my application for bankrupcy ??
How long does the process take and will I be able to leave the country while this is going through ??

Any help and advise you can offer would be greatly appreciated.

Thank you in adance

Sue has answered this for you via the PMs, if you have any other questions let me know.