The May 2009 Bankruptcy & Debt Relief Order Club!

gettingoutofdebt

The choice of whether to petition for BR is yours so the CAB should still respect your decision and provide assistance. I spoke to a IP who suggested that I have a DMP or IVA but I have decided to petition for BR and they were still very helpful.

Jo_Bla

Sorry if I seem a bit confused but I though you had to have been told that BR was your only option to file for BR?

I have been worrying for a while now that CAB would tell me that a DMP would be my best option and I would therefore not be able to go BR! Thanks


also how do i thank people for their information?

wordsfan

Thing that's putting me off is i NEED a bank account with a debit card and can do direct debits. think current bank - hbos - will bin me if i go BR esp as my main creditor id Lloyds. What do others think? ps already applied for co-op account 2 years ago and got turned down!!

gettingoutofdebt

The judge can refuse the BR if you haven't sought advice about your options from either the CAB, CCCS or Insolvency Practitioners so it is always best to mention this on the BR form (6.28). Just because these agencies have recommended something other than a BR doesn't mean you have to take their advice. They will point out the implications of being declared BR but it is still your decision and the judge may also ask you if you are aware of the implications.

There should be a 'Thanks' button at the bottom of each post. Posts you make will have an 'Edit' and 'Quote' button and other posts will have a 'Thanks' and 'Quote' button.

Jo_Bla

Cheers for this i found it, staring me in the face.:T

gettingoutofdebt

wordsfan wrote: »

Thing that's putting me off is i NEED a bank account with a debit card and can do direct debits. think current bank - hbos - will bin me if i go BR esp as my main creditor id Lloyds. What do others think? ps already applied for co-op account 2 years ago and got turned down!!

Try the Co-op basic account again. My credit rating is shot to pieces but I called them and advised that I was going BR and they approved me over the phone there and then. Their basic account also has an Electron card if you need this. Another option is the Think bank who don't do a credit check however you have to pay £12.50 per month for the account.

DON79

Welcome to debrag and dibs88!

Are Jo Bla & Wordsfan joining us in May going BR or did you just have queries?

Jo Bla - are you in Scotland at all? the rules for going bankrupt in Scotland are different and it is harder to declare bankruptcy. You do need professional advice/recommendation in Scotland I believe in order to declare bankruptcy. Unless I am wrong which is entirely possible!

Jo_Bla

Hi Don I am in Newcastle, and I will probably be going BR in June, need to make an appointment with CAB, I have one for 2nd June but I start my new job on the 1st so I can not take the 2nd off, I will try some other CAB offices to see if I can be seen earlier, would I be ok I ask a question about Guarantor for property? On here!

:rolleyes:

So_Sad_Angel

Hi Jo....ask whatever you like I hope someone will be able to help.

There is also CCCS/Nat Debtline if you can`t get to Cab

Well done on the new job.

Angex (just realised when I sign my name like that it looks like a well know brand of loo roll:rotfl::rotfl:)

Jo_Bla

I currently have around 90k of debt (27k unsecured) and then a mortgage (56k) worth 60k and is currently on the market to buy, I do have a tenant in at the moment but he only moved in 2 months ago and has not paid any rent yet.
My partner has around 140k including mortgage (102k) house only worth 89k this also has 20k secured loan on it and with (18k unsecured including 9k for a car loan).
we currently live separately as we can not afford the 600pm fees for my daughter to be in full time nursery so I am claiming CTC and WTC to cover this fee, I am living in my stepfathers flat and do not pay any rent etc but I do contribute to my partners bills as he can not afford them, my partner has his property but with such a large mortgage he had to get his uncle to be his guarantor, so I really would like to know what will happen about his house etc if we both were to go bankrupt, I have accepted the fact we should live together and stop claiming the benefits and will eventually have to find alternative accommodation but was just after a bit of advice on this matter, if anyone can help me it will be greatly appreciated, if you need any more info let me know.

Does anyone know if you have signed to say you will be a guarantor if you need to keep signing up to it ( say if you remortgage or get on a new deal etc) or is it when you have signed it is there for the life of the mortgage?