The Bankruptcy Club & Supporters Club

rog2

bizzylizzy wrote:

Hi BR day on Weds, we have a new Nationwide Flexaccount which our benefits are paid into and my wages (from p/t job) went in today.
So, should I take out most of the money before Weds so we have money to live on (in case it is frozen) or would that be frowned upon?

You should be okay, but to be on the safe side - yes, I would take it out.

The very best of luck for Wednesday. :beer:

bizzylizzy

rog2 wrote:

You should be okay, but to be on the safe side - yes, I would take it out.

The very best of luck for Wednesday. :beer:

Thank you, at the moment we are feeling like this :eek: :eek: but we are taking comfort from all of you who have been through and come safely out the other side!
The OR won't penalise us for taking the cash out then?
(Sorry for all the questions :rolleyes: )

rog2

bizzylizzy wrote:

The OR won't penalise us for taking the cash out then?
(Sorry for all the questions :rolleyes: )

I wouldn't even mention it, unless you are asked and, even then just tell the OR that you took out the cash in order to buy necessities until you opened a new basic account.
It is quite probable that you will be able to keep the flex account.

bizzylizzy

rog2 wrote:

I wouldn't even mention it, unless you are asked and, even then just tell the OR that you took out the cash in order to buy necessities until you opened a new basic account.
It is quite probable that you will be able to keep the flex account.

Oh, I've already put this new account on my SOA, paper one so can't cross it out. Will they need to see a statement?
Also it asks for amount of 'cash in hand' in Assets column. Shall I put withdrawn cash in that?

Whoops_Apololypse

Thank you for everyone's support and big welcomes to the site - it's very re-assuring and we slept slightly better last night.

We've spent a couple of hours just reading Rog2's post on MBNA. We're now armed with more confidence to deal with them - scandrals!

We're scared to actually add up how much we owe - just a quick questimate is around £60K on cc, around £115,000 on secured debt and £160,000 mortgage and £2000 on store card.

We haven't spoken to any of our CC providers since missing 2 or 3 payments, would you advise us to stop sticking our heads in the sand and at least speak to them and tell them we're having financial difficulty or wait until the New Year before we file for Bankruptcy? We've also ignored all written communication - we're just ostriches :-(

The other worry is that my car is worth £10,000 - we have young children, go camping and I teach aerobics so have 30 exercise mats to cart around, so we bought a 7 seater last year. Are we right that this will be taken away in Bankruptcy but they will give us back £1,500 to replace it? How does this work? I need a big car for the mats - does anyone think this will be taken into consideration?

Advice on what to do next would really help - thank you.

Whoops Apocalype

gettingitsorted

Hi Whoops the best source of info is here https://www.insolvency.gov.uk they cover everything hope that helps

anything else just ask away

you will need to open a basic bank account and move any income and household dds to this new account

sarah_ace1

awww guys i'm intears reading your posts. i applied for a budgeting loan for my fees and was accepted, even after telling them what it was for lmao. going ot wait til after xmas to go ahead...3 wks waiting list in gloucester so looking at end of january to be bankrupt! i'm scared, nervous but looking forward to it.
oh and they can take my heap of a car...everything is going wrong with it at the moment ! walking ain't so bad, just dying for a ciggie at top of hill !!!

and can i add, thanks for this thread...i think it's the only thing keeping me sane at the moment too

gettingitsorted

Hi sarah ace,keep your chin up hun we are always here if you need anything

amc23

i`m lookin to go bankcrupt but no idea were to strat n cost involved any help would be great
thank you

Whoops_Apololypse

Hi Whoops the best source of info is here https://www.insolvency.gov.uk they cover everything hope that helps

anything else just ask away

you will need to open a basic bank account and move any income and household dds to this new account

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Hi - should I open an account now and start moving my DD's etc in readiness?