now its the only option...

Tigger2703

OH and I have decided bankruptcy is now our only option. We owe nearly 35k (at last count, I will confess to having burried my head recently and so am not sure of the exact figure), and earn just above nmw. We are receiving daily letters from creditors and I'm constantly worried the bailiffs will come round while I'm home alone (OH works 12 hr nights). It's making me physically ill (high bp, acid stomach and anxiety attacks) and the stress is going to finish our relationship if we don't deal with it now.

Now that we have come to this decision, there are a few things (even after days of research) that I am unsure about. If you can answer any of the following, either as a professional or speaking from experience, we would be very grateful.

1. I work for an agency, and so can be sent anywhere within a 30 mile radius at short notice, so the bus is impractical for most places and impossible for many, especially if I'm to get there on time! Will I be allowed to keep my car (it's a Peugeot 206 04, but in pretty poor condition, so valued on parkers guide at 2.5K), since I know nothing about cars and so would not be able to maintain a banger. Also my partner works too far away to bike/walk and there is no bus service (it would take him nearly 2 hrs bus hopping).

2. do all debts have to be included? I rely on the catalogue in emergencies and owe just over 1k on it but am making timely repayments above the minimum.

3. is it always in the local paper? I have no intention of involving my family, as my grandparents are weak and unwell and my father will basically end contact (you may think this sounds dramatic but i can assure you is accurate). Plus I would hate to cause them the embarassment of someone they know seeing it.

4. we considered this option before and opened a basic bank account with the yorkshire bank which we are now using as our only bank account. Will this be frozen/closed, and if so how are we supposed to pay the rent/groceries/travel to work etc.?

5. Is there any way we could keep the laptop, as I apply for several jobs a night, and this would be impossible to keep up if I had to go to the library or otherwise to search and apply.

6. I don't know if this was a scare story or not, but someone told me they saw on beat the bailif that they can take pets away? I have two moggies who would be worth nothing in monetary value but mean the world to me

7. Do I have to declare it on job applications when it is not a specific question? If not required, is it advisable to tell them anyway?

8. Most of our furniture was given to us by family, or brought second hand, and so has seen better days. What do they class as necessary when deciding what to leave you with?

9. Can debts to utility companies be included?

That's all for now, but after another sleepless night I'm sure I'll come up with some more. Many thanks for reading, and for any advise you can offer.

V + A

debtinfo

Tigger2703 wrote: »

OH and I have decided bankruptcy is now our only option. We owe nearly 35k (at last count, I will confess to having burried my head recently and so am not sure of the exact figure), and earn just above nmw. We are receiving daily letters from creditors and I'm constantly worried the bailiffs will come round while I'm home alone (OH works 12 hr nights). It's making me physically ill (high bp, acid stomach and anxiety attacks) and the stress is going to finish our relationship if we don't deal with it now.

Now that we have come to this decision, there are a few things (even after days of research) that I am unsure about. If you can answer any of the following, either as a professional or speaking from experience, we would be very grateful.

1. I work for an agency, and so can be sent anywhere within a 30 mile radius at short notice, so the bus is impractical for most places and impossible for many, especially if I'm to get there on time! Will I be allowed to keep my car (it's a Peugeot 206 04, but in pretty poor condition, so valued on parkers guide at 2.5K), since I know nothing about cars and so would not be able to maintain a banger. Also my partner works too far away to bike/walk and there is no bus service (it would take him nearly 2 hrs bus hopping). The decision of whether it is nescessary is down to the OR but you would look to have a case.

2. do all debts have to be included? I rely on the catalogue in emergencies and owe just over 1k on it but am making timely repayments above the minimum. Yes all assets must be included.

3. is it always in the local paper? I have no intention of involving my family, as my grandparents are weak and unwell and my father will basically end contact (you may think this sounds dramatic but i can assure you is accurate). Plus I would hate to cause them the embarassment of someone they know seeing it. Most bankruptcies are no longer placed in a local paper, all are placed in the london gazzete (this is a financial/legal paper, not many "normal" prople read it)

4. we considered this option before and opened a basic bank account with the yorkshire bank which we are now using as our only bank account. Will this be frozen/closed, and if so how are we supposed to pay the rent/groceries/travel to work etc.? It May be, it is down to the bank, The Co-op and barclays are bankrupt friendly

5. Is there any way we could keep the laptop, as I apply for several jobs a night, and this would be impossible to keep up if I had to go to the library or otherwise to search and apply. Most households items like the laptop will not be taken unless they are very expensive or very new.

6. I don't know if this was a scare story or not, but someone told me they saw on beat the bailif that they can take pets away? I have two moggies who would be worth nothing in monetary value but mean the world to me Baliffs cannot enforce after the bankruptcy order is made, there is a very limited reason where an animal maybe taken as a bankruptcy asset, but this is where the bankrupt is breeding high value pedigree pets only.

7. Do I have to declare it on job applications when it is not a specific question? If they dont ask you are not required to tell If not required, is it advisable to tell them anyway? up to you

8. Most of our furniture was given to us by family, or brought second hand, and so has seen better days. What do they class as necessary when deciding what to leave you with?see above

9. Can debts to utility companies be included? Yes

That's all for now, but after another sleepless night I'm sure I'll come up with some more. Many thanks for reading, and for any advise you can offer.

V + A

Hi hope that helps, feel free to ask away, if you have not already get some free advice from CAB, CCCS or national debtline, details in the sticky at the top

brighter_side_of_life

Hi there Tigger :hello:

I am not an expert and can only speak from experience, but I am sure that someone will be along with advice as well.

Before I do comment, I would like to add that you would be best advised to seek some help from the free charitable debt advisory people such as Citizens advice or Debtline. Its important that you do this prior to going bankrupt.

1. I work for an agency, and so can be sent anywhere within a 30 mile radius at short notice, so the bus is impractical for most places and impossible for many, especially if I'm to get there on time! Will I be allowed to keep my car (it's a Peugeot 206 04, but in pretty poor condition, so valued on parkers guide at 2.5K), since I know nothing about cars and so would not be able to maintain a banger. Also my partner works too far away to bike/walk and there is no bus service (it would take him nearly 2 hrs bus hopping). The Official Receiver let me keep my car - it was 04 and I explained it was tired, a few dents and scratches and worth about £1800 to £2000. I told them I needed it for work. They didnt ask anymore questions, nor did they want to see it. They rely on your honesty. Thankfully it was made exempt.

2. do all debts have to be included? I rely on the catalogue in emergencies and owe just over 1k on it but am making timely repayments above the minimum. you will be asked about all debts and creditors in your statement of affairs. It wont matter if you not in arrears, it will still need to be mentioned.

3. is it always in the local paper? I have no intention of involving my family, as my grandparents are weak and unwell and my father will basically end contact (you may think this sounds dramatic but i can assure you is accurate). Plus I would hate to cause them the embarassment of someone they know seeing it. they dont tend to do this anymore. I live in a small village so shared the same nightmare! It never appeared. It will however appear in the London Gazzette, set in stone forever! Mind you, I have never come across anyone who spends time trawling through that looking for people they know! So guess theres no worry there either.

4. we considered this option before and opened a basic bank account with the yorkshire bank which we are now using as our only bank account. Will this be frozen/closed, and if so how are we supposed to pay the rent/groceries/travel to work etc.? I opened a basic account prior to bankruptcy and just made sure there was no money in it on the day I went to court. (left £10 in). The OR had no interest in it so I phoned the bank told them I was made bankrupty and they were happy for me to keep my account (lloyds tsb - although I hear from the forum this is not usual practice and is down to each individual branch. Basic accounts dont usually cause a problem. Speak to the bank first. Oh, make sure they are not connected to anyone you owe money too..... they might take the money back freeze the account in that instance!

5. Is there any way we could keep the laptop, as I apply for several jobs a night, and this would be impossible to keep up if I had to go to the library or otherwise to search and apply. The OR never asked about my lap top. Dont volunteer any information unless asked. If the computors are used for school work or your work they wont take it. Not enough value in it anyway to be of interest.

6. I don't know if this was a scare story or not, but someone told me they saw on beat the bailif that they can take pets away? I have two moggies who would be worth nothing in monetary value but mean the world to me NEVER heard of that ! No need to worry there ! Could you imagine!

7. Do I have to declare it on job applications when it is not a specific question? If not required, is it advisable to tell them anyway? I wouldnt tell them unless they asked. Its mainly financial organisations, solicitors, accountants, civil service or that sort of thing.

8. Most of our furniture was given to us by family, or brought second hand, and so has seen better days. What do they class as necessary when deciding what to leave you with? They wont take your furniture unless you have some valuable antique hidden away! Or some sort of Monet hanging about the place !

9. Can debts to utility companies be included? Yes, I think so... although I wasnt behind on mine so not sure. I think its only those accrued prior to bankruptcy.... someone will be along to correct me on that.....

Hope that helps a bit..... Good luck.

brighter_side_of_life

sorry - forgot to use the quote button, hope it makes sense. xx

paul01609

hope they dont want my parrot she would kill her self with out me,left her with my parents for a year and she ripped all her feathers out so i trying to get her back to health

brighter_side_of_life

Oh Paul ! your poor parrot..... not a pretty polly with no feathers! Hope she gets better soon xx

paul01609

shes getting there but still pulling the odd one out,had no option to leave her with my mum and dad we moved in with the inlaws after putting up with 7 years of hell living next to our old neighbours,so one saterday afternoon i blew my top with them and we left there and then me wife 2 kids slept in 1 beddrooom for a year

brighter_side_of_life

My goodness, that must have been hard for you. Still, what matters is that you are all together....

I worry about my animals more than the my children sometimes! We are so soft arent we!!!

Good luck and all the best with everything. Keep us posted! x

Tigger2703

Thanks to you both for your replies.. they were very helpfiul and I feel much better about it all. We're going ahead and filling in the paper work this weekend although we wont have the money together for a couple of weeks.

Paul...glad to hear your parrot is starting to feel better, fingers crossed for a speedy recovery!!

I do have one more question though...we earn about £21,000 between us, and so don't appear to qualify for any help paying the fees. If we include OH's few small debts as well (one is an od on a joint bank account so maybe we have to anyway?), do we have to pay the fees twice, and how much and when do we have to make pay?

Thanks again guys, it's very kind of you to take the time out to reply.

V xxx

debtinfo

When you go bankrupt your partner will be left to pay all of his sole debts and all of the joint debts, if he can afford to do this then he should crry on paying these debts. If he needs to go bankupt as well then he will have to pay a seperate set of fees

Tigger2703

Ouch...so for both of us as a couple to go br we will need £1,800?! Wow, they don't wanna make this easy do they? If I had that much money I could clear a whole credit card!