scottish questions

rockyroad_2

hi wanted to ask a couple of things
i earn 13 k a year but after tax this works out as 929 per month and the weekly figure is 233.does this rule me out of LILA bankruptcy?
if i was bankrupt could i get my wages paid into someone elses account if i have difficulties opening one?
i am applying for a trust deed but if it doesnt get protected been advised the trustee will probably push for bankruptcy and just wanted to know about these two issues

fiveyearplan

Hi rockyroad - I don't know much about BR in Scotland but hope by bumping this up someone else will. You could always PM coolcait.

worriedsik

hi rocky

Iam going the LILLA route on monkday i will be sending in my forms i got a lot off good help from this thread here is the link

http://forums.moneysavingexpert.com/showthread.html?t=1579759

worriedsik

That will be monday lol not monkday

fiveyearplan

worriedsik wrote: »

That will be monday lol not monkday

... you say tomayto, I say tomahto ...
... you say monkday, I say monday ..... lol

worriedsik

lol well it might probably be a monkey day !!!!!

coolcait

rockyroad wrote: »

hi wanted to ask a couple of things
i earn 13 k a year but after tax this works out as 929 per month and the weekly figure is 233.does this rule me out of LILA bankruptcy?

I'm afraid it would. The limit is £229.20 per week before tax, NI, etc are deducted. . You need to look at the top line on your pay slip when working this one out. Do you get working tax credits by any chance? If you do, then that would probably let you apply for LILA even though your income is over the minimum wage threshold

if i was bankrupt could i get my wages paid into someone elses account if i have difficulties opening one?

The folks on here have lots of advice and info about bank accounts you can have when you're bankrupt, so hopefully it wouldn't ever come to you needing to have your wages paid into someone else's account.

i am applying for a trust deed but if it doesnt get protected been advised the trustee will probably push for bankruptcy and just wanted to know about these two issues

But do you have enough disposable income to be able to apply for a trust deed? You're not earning that much over the minimum wage, and I guess you don't own property if you're looking at LILA. So a trust deed doesn't look like the best option on the surface... . Is this a suggestion which is coming from CAB or the like?

If you do sign a trust deed and it fails to become protected, the trustee can apply for your bankruptcy. It's more likely that they'll encourage you to do it, because then you'll pick up the costs :rolleyes:. If your trust deed fails to become protected, then that's proof of 'apparent insolvency', and you can use that to apply for bankruptcy even though you don't fit the LILA rules. And you can do it entirely by yourself (there is no need for your trustee in the trust deed to do any of it, much less charge for doing it). And you are not obliged to nominate the trustee in the trust deed to act as your trustee in the bankruptcy. If you are unsure, you might find it helpful to ask the trustee for his fee rates, and ask the Accountant in Bankruptcy for theirs, so that you can compare.

I hope that helps. I'm going to raid the freezer now, after reading your user name ...

rockyroad_2

Hi been offline for a while,
my Trust Deed meeting went ahead so I have to wait it out now.
Apparently you only pay £100 in Scotland to go bankrupt even if its not LILA which I find it hard to believe. I dont own property or assets so I'm told this is the right thing for me I just find it hard to believe the creditors will accept my offer of £110 a month considering I was paying that out to 3 of them. Been getting a lot of phonecalls but luckily Ive got a mobile so I haven't answered I just wish it was all over as my landlord is selling our house so we have to move and it's just one thing after another!