Any advice is great - We have made a big decision - BANKRUPCY IS HERE....

MrsV

From what I have read in other cases, as you have no equity in the property, you should be able to keep it subject to a relative buying the beneficial interest. You will find very good information on this on the moonfruit website I gave you the url for.

As to the car, you will normally be allowed to keep a car worth up to 2k but if yours is on hp it will be going back anyway, so you will need to save for one and there are plenty of decent cars around for 1000.

You will need the money for the fees probably best to stop paying everything and save up as quick as you can.

There is a wait at some courts so you may need to make an appointment; give your local court a ring to check this.

Any chance of one of your creditors actually making you bankrupt? It would save you the fees!

Mike_St_Helens

How does a creditor make you BKY... I thought after the CCJ process, it goes to bailiffs, charging orders etc and we surley cant be living for years looking out the window to see if its a bailiff or not...

Ta

spud30

Mike,

Have you still got the interview on Monday for the extra £3k pa job?

If you have, why not wait to see if you get it before making any definite decisions?

The extra money could help you get straight.

Mike_St_Helens

Yeah, Ive still got it... But 3k a year after tax isnt much and isnt gonna make a dent in £130k+ worth of crap...

Thanks though spud, it just shows people do read and follow your plight !

MrsV

I know the taxman makes people bankrupt sometimes. I think they like to clear their books if there is no prospect of payment. Not sure of the process though.

spud30

Of course we read and pay attention.

I totally ignore my OH while I'm on here, but take I everything you lot say :rotfl:

MrsV

I agree Mike, you need a lottery win really!

You should try and get expert advice on this though; many insolvency practitioners offer a free hour's advice.

If you are with Payplan, they should also be able to answer all your questions regarding bankruptcy. Relying on anonymous posters on a bulletin board is great for general info but remember we could all be talking complete tosh!

Mike_St_Helens

I know what you mean... After what we have been through today, my 1st thing was to come on here.... to the sounds of grumble grumble.....

Thanks Mrs V... I think thats more the case... rememeber all the big media cases and they just go bust... Jim Davideson for one most recent

Mike_St_Helens

The annonimity helps.... I will call payplan... How do you get a free hours advice?

spud30

Mike_St_Helens wrote:

I know what you mean... After what we have been through today, my 1st thing was to come on here.... to the sounds of grumble grumble.....

My OH is beginning to see the benefits of MSE now.

I've had some fantastic advice today on how to handle a recent HUGE problem at work (was sacked). He's been able to see today how helpful and supportive MSE is.

I'm sure I'll still get comments occasionally, but he'll just have to get used to it