newbie - Hello & HELP (please)

thatsyourlot

hi guys,
I am new to the forum but like all of you on here, my finances are not exactly peachy!!

After months & months of burying my head in the sand about my debt problem I finally plucked up the courage to do something about it. I fessed up to my other half who has been fab!! I Also contacted cccs & had my self employed/sole trader telephone interview earlier this week.

cccs have told me my best option is to go BR, I was hoping that I would be able to go for an IVA but I have so little money coming in each month as a sole trader, that I dont have enough money left after the bills are paid to be able to offer my creditors a bean..

I contacted my local court yesterday to ask them a few questions & they have sent the forms out to me here today.
There are just a few questions (well to start with) that I need a bit of help/advice with.

I am petitioning (sp) my own BR my other half has nothing to do with my own debts & we dont have any joint bank accounts/loans/cc etc.

On the form it asks how many adults there are in the property (we rent from the council) Daft questions but do I put 2 Adults, even though it is only me who is applying to go BR. I have 1 child so know I need to put that in.

Also, up till last month all the direct debits for the household bills were coming out of my bank account, we have now changed this so that they all come out of my hubbies account. I thought it best to do this so that at least all the household bills are up to date & safe. My own bank account now only has my cc/loan payments coming out of it.

When I go into fill the expenses part of the form in, do I put in the full amounts (ie) Our ctax is £135 per month or do I put in 50% of each cost (ie) £67.5, which is my contribution to the bills.

Im sure that I will have loads more questions & Im hoping that somebody will be able to help out.

Many thanks
xxx

EnslavedByDebts

Hi and welcome.

Ask as many questions as you need to there are many people who will assist you along the way.

You need to put both adults on the form as it asks for how many in household.

With regards to outgoings, you need to put the full household bills on then your husbands contribution to them as partners income. Also if you are definetly filing for bankruptcy then cancel all direct debits to your debts and save money for fees. No point paying them as it is throwing money away.

EBD

thatsyourlot

thanks for the quick reply:p

I will be stopping ALL d/d but I need to transfer a few payment into my husbands b account first - I get WTC CB & Maintenance for my son from my ex, so all these need to be changed into my husbands account.

Also forgot to ask this!!! My husband hasnothing to do with my own BR but do I still have to put down his wages on the form?? he is self employed to but in a diff business to me

Do you know how long it is before you start getting hasstles from your creditors once you cancel d/d ??.

Im so glad that I found this forum, its great to "share" our problems
xx

Angiepange

Hi

I cancelled our creditors direct debits about 2/3 weeks before they were due as knew couldnt pay them.
With hindsight wished i had left it to nearer the time cos started getting letters and calls almost straightaway as it seems the bank informs them almost immediately when you have cancelled a DD.

Egg put an immediate block on the account as having a DD set up was part of the agreement.

hope that helps a bit and good luck with it all
Angie

thatsyourlot

Angiepange wrote: »

Hi

I cancelled our creditors direct debits about 2/3 weeks before they were due as knew couldnt pay them.
With hindsight wished i had left it to nearer the time cos started getting letters and calls almost straightaway as it seems the bank informs them almost immediately when you have cancelled a DD.

Egg put an immediate block on the account as having a DD set up was part of the agreement.

hope that helps a bit and good luck with it all
Angie

Thanks for info Angie

I did think I should leave it nearer the time & Egg is 1 (of many) of my creditors, so I will leave it for now.

I actually have an o/draft with my bank, which will cover the next few months d/d payments & I very rarely went into my o/draft anyway, so I may as well let this take the strain & not actually cancel any of my debt related d/d until I petition my BR.

i have just arranged to have my tax credits & maintenance paid into my husbands account, so thats 1 small thing done.

It all seems so daunting when you first address it all, I just hope it all goes well. When I rang the local court yesturday, they told me there was a 6 week waiting list at the mo for BR.

My 1 & only worry is that my BR will effect my husbands business by being reported in the local paper, he is quiet enough as it is without some busybody seeing the info about my BR then going round reporting it, I just dont want to mess things up for him.

Thanks again
xx

dalip

thatsyourlot wrote: »

thanks for the quick reply:p

I will be stopping ALL d/d but I need to transfer a few payment into my husbands b account first - I get WTC CB & Maintenance for my son from my ex, so all these need to be changed into my husbands account.

Also forgot to ask this!!! My husband hasnothing to do with my own BR but do I still have to put down his wages on the form?? no you only put down his CONTRIBUTION to the household bills.he is self employed to but in a diff business to me

Do you know how long it is before you start getting hasstles from your creditors once you cancel d/d ??.

Im so glad that I found this forum, its great to "share" our problems
xx

As EBD says you put full amounts for rent,ct,water,gas,electric,phone food,ect for 2 adults and 1 child. Total them up and put what your OH contributes to this.This then goes in other/partners income coloum.You also put your own personal expenditure like mobile,haircuts,any travel costs,health costs ect these then get added to your total household expenditure. You add your income + OH CONTRIBUTION. You take total household expenditure from total household incom and see what is left. This is then YOUR surplus.:Deasy:eek: