My parents are considering BR & some advice please

reallygladtheirdoingit

Hello,

My mum & dad are seriously considering going bankrupt & we have been reading this forum for a few weeks now, which has been very imformative and very helpful for us.

We just have a few questions to ask first - there will be many more i imagine!

When we complete the paperwork for the BR do we need to book an appointment at our local court?

They also want to give up their house & rent, as they are not getting any younger and want a to rent a flat. (I have read that trying to rent via an agency can be hard work, especially as their credit rating is zilch & going to go bankrupt anyway) so how would they go about being able to rent somewhere & finding out private landlords? I have heard about having a guarantor and having to pay 6 months rent up front too.

I will so be glad when they do go bankrupt, hence my name , I do not like seeing them so stressed with letters and phonecalls from creditors, my dad lost his job due to the recession last year & they have been struggling ever since, they are nearing retirement age too, i just want the best solution for them & BR seems it as they have had advice from the cccs, as their DMP isn't keeping the wolves from the door :mad:.

Thanks in advance for your replies.

sizzler

Hi there and welcome.

Ask as many questions as you like and we will try to help.

Firstly are you doing the forms on line?

Each court is different some have a walk in service and some appointment. Ring your local one to enquire or go to court services on line.

If possible I would try and rent some where before going bankrupt.

Sizzler:)

IF

Hello and welcome RGTDI, As sizzler has said try and rent before BR if pos.

First thing Make a list of all their creditors, debts, assets.
Secondly and most important is contact one of the following debt charities. Please try these they don't charge and are impartial. And ask away, we'll try and help.

Please click on links below:-

http://www.citizensadvice.org.uk/index/getadvice.htm

http://www.nationaldebtline.co.uk/

http://www.cccs.co.uk/

For more essential info and ‘more’ Debt charities:-

http://forums.moneysavingexpert.com/showthread.html?t=1056083


And to find their court, click on link below:-

http://www.hmcourts-service.gov.uk/HMCSCourtFinder/

Hope this helps
If...x

reallygladtheirdoingit

Thanks Sizzler & Ifwisheswerehorses. My parents are now looking to rent but via an agency as unable to find a private landlord in the area they want to live. They have a guarantor (my brother) & 6 months rent (from me) so fingers crossed they will be able to get the property they have seen.

My dad has a dmp with CCCS & has taken specialist advice from their bankruptcy team too so is looking to go bankrupt in May 2010 after contacting the local court, when he has saved enough for the fees. The CCCS have also told him because of his low income that he can be exempt from paying the court fee of £150 so thats something too.

So next is all the form filling so no doubt be posting again very soon!

Thanks again for your help.

sizzler

Hi and thanks for the update,

Are you going to help them with forms online or do paper copies.

Excellent advice from ifwishes if you need help from charitys to guide you.

Ask any thing and we will try and help, let us know how you progress.

Best of luck for you all:)

reallygladtheirdoingit

Hi Sizzler, Yes I am going to help them with the forms, we will do a paper one first, then post the SOA on here & then complete the forms online (i think!) once we have feedback from this forum.

Thanks again, its nice knowing we have this forum and the lovely people on here to help us fall back on as its the unknown at the moment.

sizzler

no probs, weve all had some sort of thing with the BR:(

Sounds like your doing good job, If you do forms online at insolvencey site please save them as often as possible. If not you have to star again. The site also has some excellent help for BR. I especially liked the MP3 parts as it explains it well.

sizz:)

reallygladtheirdoingit

Oh didn't know about the MP3 bit, thats great & thanks for the tip on saving the forms as we go too, can imagine how long they are going to take to complete so would be sole destroying to start them all over again!

KR