Bankruptcy - Can anyone offer any advice and help

HELP_4

I am currently filing for bankruptcy (gettin thru mountains of forms at mo) and nned some help in understanding process of OR and what's involved and how long it goeson for etc. I have read some people are discahrged after months but do not understand how this works, if you ave surplus cash each month foes the OR take this if so for how long.............I also have a car which my parents got on finance for me (finance in their name reg in mine) I urrently pay them abck each month......what will happen with this....

Can anyone help

Mike_St_Helens

Check out my private profile and have a look at my bankruptcy diary.

Im going through the same .

Mike x

HELP_4

Hi,

How do I do that (view your private profile????

HELP_4

u there mike

CLAPTON

'normal ' discharge is after 12 months but the OR may issue a release earlier ...you have no say in it.

if you have surplus income i.e. if income less essential spending is available then you may have to give the OR some of it (say about 50% ) but its up to the OR. this can be up to 3 year.
if the car is owed by your parents then the OR wont take it but the OR wont count in general the payments to your parents as essential spending.

needaspirin

All the information you need is on this sitehttp://www.insolvency.gov.uk/. Don't worry too much - its not as bad as it seems.
Hope this helps you

Mike_St_Helens

ops click on my name and you will see my threads that ive started. PM me and ill be more than happy to let youy know what I know. or ill email you if you put ur add there

M8ike