The Bankruptcy Club & Supporters Club

piggeh

Congrats Marwartooth, welcome to the family

rog2

marwartooth wrote:

well ive done it now 342 0f 2006 , went to court yesterday , met by a very nice clerk who checked all the paperwork and took the fee ..
He then asked us to have a seat in the waiting room whilst the judge signed the paperwork , didn't even meet Him.
all done in an hour then phoned the OR who was pleasant asked a few questions mainly about Car ownership , told me who woulod be dealing with my case which is where I am at now waiting for the Phonecall to sort out my case.

Well done mwt - could take a week or so for the phone call, then you can look forward to a stress-free Christmas.:beer:

rog2

mactheinsomniac wrote:

:A Hi everyone.
first post tonite and was wondering if anyone can help please ?
My OH has been Br since April 05,due to be being robbed at his business premises 6 times during a 14 mth period. you could say weve had a pretty crap time....

the problem lies with me though.He hasnt really looked back since his BR. retrained through job centre and skills training board and about to get back out there.not sure though if he is discharged,which worries me.can he be made to pay money out of his earnings ?

anyway.back to me . i bailed his business out with numerous personal loans and ccs to keep him afloat.I currently have a dmp through cccs .i pay £146.00 pm and my debt is approx £70,000. i really want to get my debt paid but at this rate i will never be debt free.

I have considered BR myself because some of my creditors are now applying for charging orders on my home. I managed to borrow money from family to buy my OH interest in our home. Would he be able to do the same for me ?

Hi mac - first of all, your husband should be discharged from April 06, under current legislation, and should have been informed of this by OR. If he needs to he can apply for a 'Certificate of Discharge' although there is a £60 fee for this - he should contact his OR/Trustee who can advise.
Once your husband is/has been discharged he is free of all the constraints and limitations of bankruptcy and will be able to 'purchase' your beneficial interest in the house. He will, probably, have difficulty in obtaining credit for the next six years, but this should not be impossible.
Unless there were special conditions on his bankruptcy it is unlikely that he would have to pay any of his wages to the OR, unless there is an IPO/IPA in place (which lasts normally for three years). If he was not given an IPA/IPO during his bankruptcy period, due to low/non earnings, then he will not get one now.
Hope this is of some help.
Cheers
Rog2

mactheinsomniac

Thanx for the reply rog,

I will contact trustee early next week to clarify his posistion.He didnt have any restrictions on him as far as im aware.We havent had any notification that hes been discharged tho ?.

Do you have any idea how to go about getting a business bank account ? He is currently banking through Gregory pennington with a basic account. It takes 14 days for chqs paid in to clear. He wants to register himself asap as he has done the odd job so far but not sure if anyone will want him ?

Any tips would be helpful thanx .

sandralovescats

Thought this might put you in the mood for Christmas!


This is my all-time favorite E-Christmas card (its back
!!!)...Watch Santa's leg...


> http://www.mesasoftware.com/merrychristmas.htm

rog2

sandralovescats wrote:

Thought this might put you in the mood for Christmas!


This is my all-time favorite E-Christmas card (its back
!!!)...Watch Santa's leg...


> http://www.mesasoftware.com/merrychristmas.htm

Brilliant Sandra :T :rotfl: :rotfl: :T
How did you get on in Manchester?

rog2

mactheinsomniac wrote:

Thanx for the reply rog,

Do you have any idea how to go about getting a business bank account ? He is currently banking through Gregory pennington with a basic account. It takes 14 days for chqs paid in to clear. He wants to register himself asap as he has done the odd job so far but not sure if anyone will want him ?

Any tips would be helpful thanx .

He should be able to apply for an account at any of the main banks, now, although he will, probably, be asked about his br and may only be able to get a 'basic' account - there is a good link to the fsa website - I will look it up for you.

Lone_Traveller

Hi Mike and members

Im new to this thread but not the forum.

I currently feel like Im staring Bankruptcy or "Sequestration as I live in Scotland"
down the Barrel of a Gun!

Im suffering from all the illments ie Sleepless nites, can,t concentrate on my job, isolated, guilty etc the list goes on.

I had a light bulb moment 2 weeks ago worked out my SOA (see below.) Registered with CCCS had a telephone interview was told i'd be better off going for Sequestration in the long term, but as Im a home owner, car owner for now they put me on a DMP, told me to wind up my Bank account TX all my Direct debits to a new account and contact my Creditors with there standard letter and attempt to make token payments prior to the DMP starting in Feb 07.
They worked out 38 years for the DMP to finish which is :eek: hence the possible sequestration (SQ) route. IVA was briefly looked at but told needed at least £460 a month in surplus income to be viable.

As I stand at present im not in arrears with any creditors monthly payments so have a little breathing space, however that will change in Jan 07.

My questions are:

Is there any member out there who,s been through the process of BR or SQ in Scotland ?

How did you find it?

Are the general procedures rules, laws the same as in England and Wales?

Are they harsher in Scotland?

Ive checked out the Scottish Insovency Service website so am aware of Temp and Permanment Trustees etc.

On a different note in regards to housing have any BR or SQ members rented property privately whilst BR or have they found Brickwalls going up down this route?

As obviously if I go down this route my future housing is one of my main concerns.

Thanks in advance for any help in these matters and just somewhere to go to ease the burden.

Yours Lone Traveller.
SOA and footnote

I’m married have no dependent children living with me however I am pay Child Maintenance for 1 Child aged 15. I work away from home 8 months out of the year split 4 months away and 2 at home.

I currently are not in arrears with any debts due to using my savings to pay outstanding debts and to live on , however Im down to my last £300 this month. with arrears coming up fast once the savings are gone

My Current SOA

Income £1333.05 Paid to me monthly
Pension £439.36 Paid to me monthly
Total £1772.41

Outgoings (all figures quoted are monthly)
Priority Debts
NR Mortgage £646.50 APR 6.34% Total owed £95020.51 House Value £105000
CSA £200.92
Council Tax £119.21 currently not paying as paid in full to April
TV License £10.99
Electric £30 currently changing suppliers for cheaper price (USWITCH)
Gas £38 (as with electric)
Telephone £30
Sub Total £1075.13
Non priority Debts
Broadband £17.99
Gas Service Plan £7.88
Contents & Building Insurance £21.64
Food and Housekeeping £260
Car Insurance £18.33
MOT £18
Car Tax £14.58
Petrol £45
Hair (Me and Wife) £22
Vodafone 2 x mobiles Plus Datacard £100 (I know these need to go got 10 months left on Mobile contract and 2 on the datacard.
Prescriptions £6.50
Dog £13
Travel Costs myself whilst away £20
Sundries/Toiletries whilst working away £15
Sub Total £579.92

Debts
Northern Rock Loan £196.50 APR 6.34% total owed £28877.88 (no secured taken out same time as mortgage if I change mortgage APR rises to 11.59 %.)

Nationwide Loan Unsecured £319.46 APR 6.7% total owed £19452.21
Abbey National Loan Unsecured £195.22 APR 6.6% total owed £6259.23
Abbey Platinum Visa Credit Card £75 APR 24.9% total owed £3133.54
Lloyds TSB Credit Card £38 APR 14.8% total owed 31925.33
Wife
Kays Catalogue £40 total owed £343
ACE Catalogue £10 owed £150
Sub Total £874.18 Total amount owed £59991.19: mad:

Total outgoings and debts monthly payments £2529.23

DECIFIT £756.82

rog2

Lone_Traveller wrote:

Hi Mike and members

Im new to this thread but not the forum.

I currently feel like Im staring Bankruptcy or "Sequestration as I live in Scotland"
down the Barrel of a Gun!

Hi Lone Traveller and welcome to BCSC

I appreciate that Sequestration varies a little from the English Bankruptcy process, but it is, basically, similar.
I am amazed at the lack of information available on sequestration, but for a good overview of the process, have a look at the following link:

https://www.payplan.com/sequestration.php

Forget the idea of 'the barrel of a gun' - the process is not as scary as it seems. It is one way of 'dealing with debt' and there are many of us who have had to go down that road.

We will try to help you.

Cheers
Rog2

Lone_Traveller

Thanks Rog2 There was so useful items on that link.
Cheers Lone Traveller