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

Mike_St_Helens

I was reading your thread today, sorry i havent posted... too much on my mind with all the SH**t we had today, The tax letter is actually very threatening !

What on earth are you gonna do! I for sure couldnt go back...

OH will be OK, just keep topping his wine up and told him to go and prepare supper....

spud30

Mike, he's had enough wine now.

Have sat him in front of the xbox for an hour :rotfl:

I haven't a clue what I'm going to do. The worst case scenario is that I'll carry on as I am. They can't make me go back, although the money was great, it's not everything is it

Anyway, don't you worry about me. Seems like we're both having a bad Saturday.

Will we see you at the slumber party later?

:beer: :beer: :beer:

Mike_St_Helens

Yeah... That sounds good !

Im still on the wine !

Addicted2Chocolate

re: house: see leaflet 'what will happen to my home' from https://www.insolvency.gov.uk
re: car on HP: HP company will be informed and will probably repossess, any shortfall a debt in the bankruptcy. you will not be able to save for a car, or save much, as if after essential outgoings there is a surplus you will pay between 50% and 70% of the surplus under an income payments agremment for 3 years
re: council tax arrears, also National Insurance debt, income tax, VAT arrears incl assessments/penalties: all debts in bankruptcy

Addicted2Chocolate

any savings you have will be an asset in the bankruptcy.

Mike_St_Helens wrote:

Thanks Mrs V... What are your views on my car, house and the not going BKY for 3 months so we can save for a car and the fees we need to go BKY.

TA

Mike_St_Helens

Thanks A2C, but can I try and hold off for 3 months so we can save for a car ?

Mike_St_Helens

What if the savings were purley 'cash withdarals ' and were kept at home away from any admissions or banks ?

Addicted2Chocolate

you will have to list cash in hand in the statement of affairs. so any cash at home would have to be disclosed. if you save and buy a small car worth £1000 and you can proove it is essential for work (travel to and from) then you may be able to keep it anyway, as it woudl be exempt.
for essenrial for work you woudl need to show you cant use public transport eg antisocial hours, woudl take much longer etc.

Mike_St_Helens wrote:

What if the savings were purley 'cash withdarals ' and were kept at home away from any admissions or banks ?

Addicted2Chocolate

wish i was on the wine! i am 2 days overdue to give birth...

Mike_St_Helens wrote:

Yeah... That sounds good !

Im still on the wine !

Mike_St_Helens

Ohhhh... a baby DFW could come at any time !

My plans are to get the car at least a day or 2 before the court date... would that be ok... that means the 2k would be gone !