Please Help, Advice wanted

tigerfeet2006

As long as you do not sell the car for under value then you will be fine if you then use the money for a new car, fees and essential furniture then you will be fine.

As suggested get yourself onto https://www.freecycle.org and get free stuff. Also use the local papers for things as well. Ebay is good for cheap items to. You do not HAVE to have new things. My house is filled with second hand furniture.

INAMESS

Hi thank you for the
Ive now had my parents having a go at me and saying DO NOT go BR cos it will have a bad affect on them and also affect their rating etc, is this true? I know going BR is serious etc but what are the long term affects it has? Would i be able to get car insurance? Mobile phone contract? I know it will affect me getting a mortgage or becoming an mp etc but theres no chance of that anyway lol. Thanks in advance

tigerfeet2006

If you have no joint accounts or anything like that with them then it will not affect them what so ever. It is the person going BR who is affected not the address they live in.

You will be able to get those things, though it may require a bit of work sometimes.

INAMESS

Hi so let me get this right, i can sell my car and then use some of the money to pay deposits/advance rent and get furniture etc? TV? Bed? Settee etc? And the OR wont be interested in my personal possesions such as camera, hifi, walkman, cds etc? Only my car which i can sell and still be allowed to purchase a cheaper one for getting to and from work and seeing my son?

Merry_Gentry

Basically yes. But you need to be prepared that the OR might take the cheaper car you purchase if you do not need it for work. You have to prove that it is essential rather than just convenient. It's not always about how much the car is worth, but them being able to disallow expenditure on the car in order to get an IPA. It might be an idea to do an SOA

http://makesenseofcards.com/soacalc.html

INAMESS

Hi i have spoken to various people now who say that i would be allowed a cheaper car for getting to and from work and for seeing my son, today i spoke to the bankruptcy advisory centre who are a free advice company and they said that i wouldnt be able to keep a car and i would be expected to get the 3 buses required to get to work and make alternative arrangements for seeing my son who lives approx 20 miles away, what do people make of this? Is this true or is it just worse case scenario and unlikely? Thanks

miss_spooky

Hi,

Just to put my bit in. I've had a quick look at the site and though they offer "free" advice it could be that they are trying to scaremonger you into taking out a dmp or IVA which would be a fee paying service.

No one can really answer your question with complete honesty except the OR. We can only offer what has happened to us during or BR experiences. It's a gamble you will have to take. Why don't you contact your local OR's office and ask them hyperthetically? They are not allowed to advise but could give you some info. I called mine about my car on HP and they were really helpful. You could run through the above senario, selling car for max, buying cheeper one, furniture etc and get a feeler.

tigerfeet2006

The people to talk to about your money situation are the ones that you see on this site. The ones in my sig. and the others that are mentioned in the Bankruptcy Help sticky. Please do not talk to anyone else, they are not free and impartial.

On the time on this board, which is for a good few years I have NEVER seen an OR who will make you do as you have described to get to work.

INAMESS

Thank you all for your help, the bankruptcy advisory centre claim to be an advice centre only and dont do things like arranging IVA's etc, they just ask for a one-off subscription of about £25 i think. Do people think its best to sell my car now and get a cheaper one or just wait and see what happens should i end up having to go bankrupt after a couple of months of living in my flat? Thanks

INAMESS

Hi also should i get a new bank account before i possibly go BR as i have 2 overdrafts and a credit card with my current bank, should i change my account straight away even though a new account will probably get frozen once i go BR?