Ask a CCCS counsellor a bankruptcy question

toni_halls

Hi

Myself and OH are on the brink of going bankrupt. My OH has been made redundant 4 times in the last 5 months and have now signed on to jobseekers for the time being. He has at least £9k plus the mortgage (98k remaining) of debt in his name, I on the other hand have £300 o/d and the mortgage. The question is, do we both have to go bankrupt or just the OH? If both do we go jointly, seperately and do we have to pay seperate fee's???

Also do you think we would lose the house as I have an income of only £280 a month and would not be able to keep up the repayments and they're is no equity.

Thanks
Toni

elfieb

I am currently at the end of my tether regarding applying for a DRO.

NDL have my completed application form , and I was told yesterday that I would be having an interview with my intermediary today, only to have just been told by NDL, that I wont be having my interview today, and they dont know when!!!!!

I am extremely anxious regarding my application for a DRO as alot of my debts have been formed due to gambling, and as I understand, a creditor can appeal for a DRO to be revoked for this reason. Could you please advise as to whether you find this statement to be true?
There is no point applying for a DRO, if one of my creditors can appeal, and therefore my order revoked. Is it the case as in bankruptcy, that when an order is made, that is it? I mean you are either insolvent or you are not surely!!!!?????

rih09

i have just posted this .but havent got the anwers i was looking for .
apart from lossing our property
what are the main draw backs inbecoming bankrupt
our credit will be bad for 6 years but what else will be affected ?

babyfoxy

Sorry to post agin buy never got reply to my original post
PLEASE can someone clarify my position

Hi
I wonder if you can help. i have debts of around 30k consisting of 19k negative equity and 11k personal loan. Both these transferred to me when my expartner went bankrupt. I also have credit card debts of1.5k and a CCJ for £1k for coucil tax on former home(see N.E above) Havent informed any of the cos of my new address so havent heard anything from them for a couple of years which is very strange.
I have 3 children ,7 - eldest of who, is reg disabled. i am her carer.
We are in receipt of the following benefits
DLA,Carers allowance,Tax credits,Housing Benefit & CTB
Now also finally receive maintenance via CSA. Have received a huge chunk of arrears
My question is - if i go bankrupt to get rid of the NE can the OR take part of the CSA child maintenance ?? ANd can he seize the 3k i currently have recd in arrears? i wanted to pay this into 3 neaccounts for the girls to be held by my Dad(dont trust myself!!)
I have no other assets
CAB advised to just ignore it as the mortage co arent chasing - but Ive done that for 3 years now & cant stick my head in the sand any more
Please clarify for me as its making me sick with worry about what to do next
Thanks

Gboy2

Hello,

I quit uni a week after starting, and i signed on the other week. I had family probs so had to leave uni. I am returning to try at uni in September. not filled out forms yet - bu the uni said they would have be back...

I am 4k in debt. Overdrafts and a credit card - that I can't pay back. I have been trying since November to get a job and nothing! It's unbelievable....

Would going bankrupt give me a fresh start since the banks are getting angry...

Would going bankrupt effect my job seekers allowance benefits? would my bank accounts and credit card be closed. will i then be able to open a basic bank account with some branch?

How much does it cost to go bankrupt, if on job seekers allowance?

How long would the process take?

Would it effect student loans come late September?

Would it be all over and done by then? and I could have a fresh start at university with no debt? I'm pretty depressed which doesn't help because of my mums illness (reason I left uni this year)

Thanks for any help

Godiva500

Sorry to post again but didn't get a response last time.

Hi
I am going BR, and have a small surplus each month.
Am I right in thinking that if both myself and my husband are on pensions with no other income, that an IPA would not be allocated anyway?

I also would like to ask - on the BR form to fill in, it asks about tax paid in employment etc. I pay tax on my pensions. Where do I put that, or don't I?

Thank you

PabloEscobar

HI,
I have a thread open elsewhere, but would like to see what a CCCS advisor has to say about my situation.

Seriously looking at going BR now. I`m in a debt management plan anyway, and owe about £45k on this. Recent tax and VAT bills to total another £7k. ( I`m self employed, sole trader). The problem I have is regarding a house. My girlfriend bought a house in November 2005, and the deposit of £23k came from my account. The money wasn`t mine, but was leant to me by my folks. If I was to go BR, would this be looked into, and would my OH lose the house, even though it`s not mine, and my name is not on the mortgage or deeds?

All help would be appriciated, as I don`t want to enter into Bankruptcy thinking the house is safe, to later find that it could be taken away. If it makes any difference, the house is now rented out, and me and my OH are living with my folks.

weewillywinkie

Hi,

Looking for some advice pls, have been advised to go down the sequested route by New Tomorrow who are dealing with my husbands trust deed.

To give you a bit of history my husband is the bread winner i stay at home to look after our 3 kids as he travels a lot with his work and is away from mon-frid, we have a jnt mtg (house value 305k, secured loan against it of 83k and mtg value of 283k) all my husbands debts are being taken care of in the trusted deed including a jnt loan we have with NR(together mtg).

My worries are that i have 2 credit cards one at 10k and the other at 12k along with the jnt loan(that we have been told they will come after me for as second name on it) as i now cant afford to pay these back(all income / expenditure has been accounted for in the trusteed deed including our child benefit)............whats the best way to go down this route??????

My husband has 2 cars in his name one that has been paid off that i use and 1 that he uses and he has have been allowed to keep thes.

Would they want our house?......this is what worries me the most.

I am going to open up a sole bank a/c and close down our jnt and my OH is going to trf the housekeeping over to my sole a/c is that safe?


PLEASE PLEASE HELP as i really dont now were else to turn cant seem to get any help anywere...........

Some advice Pls

sycamore1

If i go bankrupt and my house is in negative eqitty is there a chance that i may still loosw my house having no other assets

Ethereal_Gaz

Hi, I'm a mechanical engineer and was told a few weeks ago that my contract is ending next week. I've been looking for work since but there's nothing about.

I owe £18k across 2 visa cards and am probably just about dipping into negative equity on our flat with the current mortgage of £120k. I will also owe around 7k to HMRC.

My wife looks after our daughter so manages to work 2 days a week.
I figure I can manage to be out of work for 2 weeks before things get difficult. What happens then?

Also, is there anything I should be doing now, before I get to that stage, which could help later? Should I pre-book a CCCS call now or wait until I'm out of work?

Thanks