Bankruptcy process

dirtpoor

Hi All

I am hopefully going bankrupt in the next few months (being delaying it forever) what do I need to do?

Do I contact all my creditors and get balances at a specific date?

How do I manage DD for utilities if I can't use my bank account?

Do I set up an account with Barclays/Co-op before creditor know that I am bankrupt?

Are my bank statements scrutinized?

Will my name be in the papers?

I am on Incapacity Benefit following major op - will I qualify for a reduction in the fee?

I don't want any surprises when I do eventually go for broke!!!

philnicandamy

dirtpoor wrote: »

Hi All

I am hopefully going bankrupt in the next few months (being delaying it forever) what do I need to do? well...1st contact any of the FREE debt helplines to see where you could go from here..bankruptcy is the utter LAST resort when all other things are useless...

Do I contact all my creditors and get balances at a specific date? No need to...guestimates will be fine...

How do I manage DD for utilities if I can't use my bank account? transfer them to a new basic account..

Do I set up an account with Barclays/Co-op before creditor know that I am bankrupt? you can do...some people wait to open an acc till after BR BUT if its a co-op or barclays one then the receiver wont usually be interested

Are my bank statements scrutinized? Scrutinised? hmm well they'll look at your spending habits & the reasons why you became insolvent...

Will my name be in the papers? Hmm good question...rules changed a while ago & now its up to the OR but seeing as the ad costs money most now dont bother..

I am on Incapacity Benefit following major op - will I qualify for a reduction in the fee?

I don't want any surprises when I do eventually go for broke!!!

a few thoughts & a bit of "suggested" reading
http://forums.moneysavingexpert.com/showthread.html?t=1056083

(and welcome!!)

anything else just shout away!