Bankruptcy Assets

MicheH

fiveyearplan wrote: »

Who would have £500 over?;)

I don't know, maybe someone earning megabucks but has megabucks of debt too, where £500 equates £1 for every day strugglers, I guess it must happen

confused76

fiveyearplan wrote: »

Who would have £500 over?;)

well indeed! they might as well do away with that box on the forms!!!:rolleyes:

debtinfo

again more applicable to businessess that may keep accounts for repairs or money owed for VAT for example

chrisb1357

I have just added my bank accounts to that section. Might as well add it instead of leaving it out.

confused76

confused76 wrote: »

someone told me that if the money you have at br date is what is allocated for monthly living expenses, then you don't put anything under cash assets. however if you have £500 above what is allocated, then you declare this.

is this right peeps?

sorry the £500 was an example, i meant to say if you have 'for example £500 above...'

jeez ignore me tonight

kerrypn

confused76 wrote: »

sorry the £500 was an example, i meant to say if you have 'for example £500 above...'

jeez ignore me tonight

Bad day? Do you need to crash the beverages at the bankruptcy inn?

chrisb1357

In section under Assets that says "In the last 2 years have you made any payment to a creditor, other than in the ordinary course of business, with a view to improving the position of that creditor in case you became subject to insolvency/bankruptcy proceedings?"

I have been making payments via CCCS over last 4 years and never made a payment direct to them.

kerrypn

I think that is more if you have paid a creditor over and above any others eg you owe money to 10 creditors, but paid all your available surplus to one creditor so they would be owed less when you went BR.

I think payments through CCCS are deemed "ordinary course of business"

HTH

kerrypn

As promised...


http://www.makingsenseofcards.co.uk/soacalc.html

chrisb1357

On section of the form its asking for 'Please provide details of your previous residential address(es) where you have incurred debts or liabilities'

All my my debits where started at my old address some years ago. Is that the address i only need to put or do i need to put the other 2 address i have also lived at after when the debt started.

Chris