Help Please, Im Bankrupt and didnt Know!!

confused?

tigerfeet2006 wrote: »

Right I've only got a couple of minutes before I have to be out the door, DH will go mental if he knows I've popped on here But wanted to see if you had put this on. Will check in again tomorrow sometime.



Have a play around with those.

Thanks all. Gonna have a play tomorow. Had a weekend trying not to think about things too much.

Just a point to note though. I have put down total household income. I actually only recieve £xxxx of the income the other is the mrs's income hence the high insurance and phone bills etc. Surly if they want to know all the household income then all expences come into it? ( she's not bankrupt )

miss_spooky

Hi Confused?, this is where it can get confusing. As it is only you going BR, then you do not need to put your partners full income.

If any of the benefits or other income are in joint names then you will have to show these, but you can reduce her income as she still has her own debts to pay.

What you could do, is it work out her car costs as per your SOA, i.e her ins payments, MOT, parking etc, and then add any payments from her debts together with above costs & take this figure away from her income and put the difference down. It may not be much as she only earns a little, but as long as you can clarify this with the OR, then they can't really argue.

I fail to see where they got £512 pm from. Are you sure this isn't to do with the NT IPA.

There are two IPA's, one is taken through the tax office, so you won't pay any tax until the end of the tax year, and the other is based on what your surplus income is after essential living costs have been taken. Even with the NT tax code that only adds to approx £200pm.

Don't agree to anything you can't afford to pay.

Good luck.

confused?

miss_spooky wrote: »

I fail to see where they got £xxx pm from. Are you sure this isn't to do with the NT IPA.

There are two IPA's, one is taken through the tax office, so you won't pay any tax until the end of the tax year, and the other is based on what your surplus income is after essential living costs have been taken. Even with the NT tax code that only adds to approx £200pm.

Don't agree to anything you can't afford to pay.

Good luck.

The £500+ is the amount from the supposed surplus They calculated, the amount to be taken from the tax is £400. :-/

confused?

Hi all thanks for the help I'll look at the numbers andpost them back on.

In the meantime does anyone know if I transfer my beneficial intrest to the missus for the house. Does this mean she has to pay the
Mortgage or can I still pay it? The or also says we both need a solicitor to deal with the transfere, is this normal as it's alteady half in her name?

confused?

Hi all does anyone know if I transfer my beneficial intrest to the missus for the house. (shes not bankrut) Does this mean she has to pay the Mortgage? Reason being due to her v low income she couldnt afford it, so Even though she would own the intrest is it ok for me still to pay the mortgage. Also the OR says we both need a solicitor to deal with the transfere, is this normal as it's alteady half in her name?

tigerfeet2006

confused? wrote: »

Hi all does anyone know if I transfer my beneficial intrest to the missus for the house. (shes not bankrut) Does this mean she has to pay the Mortgage? Reason being due to her v low income she couldnt afford it, so Even though she would own the intrest is it ok for me still to pay the mortgage. Also the OR says we both need a solicitor to deal with the transfere, is this normal as it's alteady half in her name?

Nope! it just means that your missus is entitled to all the equity in the house when you sell it. The mortgage doesn't change at all, you are still on the deeds etc. and you still have to pay it or you get repo'd.

You don't need to get a soliciter. The process is simple and can be done by just signing a few bits of paper. The OR's soliciter will deal with the rest. They just have to recomend you use one to cover themselves.

JCS1

Mortgage will continue to be in joint names - BR covers unsecured debts only, so ok for you to continue to pay this.

confused?

JCS1 wrote: »

Mortgage will continue to be in joint names - BR covers unsecured debts only, so ok for you to continue to pay this.

How Come they Say we both need solicitors to deal with this?

Thanks

confused?

I have just had receipt of a letter from Hamptons legal in reply to me asking for the CCA.

It reads as follows:-

---

Dear Mr Confused?

Lowell Portfolio 1 Ltd –v- Mr Confused?

Claim Number:
Current Balance: £xxx1.00

Thank you for the Agreement request relating to account :00000 previously held with HFC Bank Limited and with outstanding balance of £xxx2.00

We have requested a copy Agreement request from HFC Bank Limited which will be forwarded to you upon receipt

Please note payment in full will be required once the statement is received.

Yours sincerely
Mr T Pot
Litigation Manager for
Lowell

(Payment in full? Do they not realise they bankrupt me?)

Anywho, my question is do i need to send them anything else?
Also is it not weird that if they have gone into proceedings and made me bankrupt that they don’t have the credit agreement already?

JCS1

confused? wrote: »

How Come they Say we both need solicitors to deal with this?

Thanks

Not sure, but have found this thread which may help (and there's a link within the link with more details)

https://forums.moneysavingexpert.com/discussion/2667395