The Bankruptcy Club & Supporters Club

Badlands_2

This bankruptcy lark seems too easy - i must be missing something some where.

Rack up £60k worth of debt - have a good time in doing so, then have a friendly chat with CAB.

Declare bankruptcy, then after a few years start over?


Seems too easy to me.

sandralovescats

Badlands wrote:

This bankruptcy lark seems too easy - i must be missing something some where.

Rack up £60k worth of debt - have a good time in doing so, then have a friendly chat with CAB.

Declare bankruptcy, then after a few years start over?


Seems too easy to me.

I hate to say this but it has to be said - you are missing rather a lot.

I can answer this question for you as a non-bankrupt (by the skin of my teeth, I might add). If you care to go back to page one of this thread and work your way through the messages you will find the trauma, the tears, the soul-searching, the heartache and the pain that bankruptcy brings with it.

No-one can wave a magic wand whether the debt is £500 or £300,000, it has to be sorted out and worked out.

To an outsider it might seem an easy way out. Take a look at the inside and you will see a completely different viewpoint.

Mike_St_Helens

Badlands wrote:

This bankruptcy lark seems too easy - i must be missing something some where.

Rack up £60k worth of debt - have a good time in doing so, then have a friendly chat with CAB.

Declare bankruptcy, then after a few years start over?


Seems too easy to me.

You havent got the hand of these boards yet have you. Id suggest you have a good ol read before you comment.

return of the troll....

sandralovescats

Got another Claim Form from the County Court today.

Tesco Personal Finance.

I am on a DMP with them, for token payments, granted. They have been kept informed by myself, the DMC and GT and they are still doing this.

I am ready to run away - as far as possible.

PAW75

HI Guys, I have read your replies and can agree with you, Going through Bankruptcy is really hard. How some people can say, people rack up debt have a good time and go bankrupt with no questions asked just isn't the case. The Insolvency service looks at everything believe it or not.

For people who have gone bankrupt from no fault of their own my hearts go out to you,

As I am new to this site, I will make an effort to look at this thread daily. For the people who are struggling with the thoughts of entering into an IVA or bankruptcy please feel free to IM me and I can see if I can help ya. Bankruptcy isn't something to entered into lightly, nor is the IVA as the companies seem to take more money off you for their pocket than to pay your creditors.

Regards.... Welshfeathers (recently passed insolvency law) CCCS

Mike_St_Helens

welshfeathers04 wrote:

HI Guys, I have read your replies and can agree with you, Going through Bankruptcy is really hard. How some people can say, people rack up debt have a good time and go bankrupt with no questions asked just isn't the case. The Insolvency service looks at everything believe it or not.

For people who have gone bankrupt from no fault of their own my hearts go out to you,

As I am new to this site, I will make an effort to look at this thread daily. For the people who are struggling with the thoughts of entering into an IVA or bankruptcy please feel free to IM me and I can see if I can help ya. Bankruptcy isn't something to entered into lightly, nor is the IVA as the companies seem to take more money off you for their pocket than to pay your creditors.

Regards.... Welshfeathers (recently passed insolvency law)

Thank you - Your advice and thoughts will be invaluable !

The new outgoings would be good too !

Mike

tammyfshr

hi
both myself and my husband have just filled in the bankruptcy forms online ready to hand in on tuesday but we need some help.
1)we rent privately.it comes out of my bank but what shall i do because my account will get closed.i have already got another basic bank account.shall i swop it to that or will that get closed aswell?
2)will our landlord be informed?
3)we are both on benifits.how can we have them paid to us if our bank accounts get closed?
4)shall i ring the court before gong down to drop of the forms?
5)will we lose our personel items ie tv,computer etc.does someone come around to check what we have?
6)im already on a management with cccs shall i inform them or just cancel the direct debit?
any help will be great as ive finally told my husband the full truth concerning how much we owe and i want to make this year a new start.

sandralovescats

tammyfshr wrote:

hi
both myself and my husband have just filled in the bankruptcy forms online ready to hand in on tuesday but we need some help.
1)we rent privately.it comes out of my bank but what shall i do because my account will get closed.i have already got another basic bank account.shall i swop it to that or will that get closed aswell?
2)will our landlord be informed?
3)we are both on benifits.how can we have them paid to us if our bank accounts get closed?
4)shall i ring the court before gong down to drop of the forms?
5)will we lose our personel items ie tv,computer etc.does someone come around to check what we have?
6)im already on a management with cccs shall i inform them or just cancel the direct debit?
any help will be great as ive finally told my husband the full truth concerning how much we owe and i want to make this year a new start.

First of all, when your benefits are paid into one account the OR will express no interest in it, so it will not be closed - provided that it is a basic bank account with no overdraft etc.

You should discuss br with CCCS.

Have you phoned the Court to see if you need to make an appointment? There may be a long waiting list.

You must declare your assets, ie computer etc. You may be allowed to buy a computer back at a fixed sum.

No, no-one comes to search your home. That happens when it is a business premises.

Please do post any more questions you have.

Mike_St_Helens

sandralovescats wrote:

First of all, when your benefits are paid into one account the OR will express no interest in it, so it will not be closed - provided that it is a basic bank account with no overdraft etc.

You should discuss br with CCCS.

Have you phoned the Court to see if you need to make an appointment? There may be a long waiting list.

You must declare your assets, ie computer etc. You may be allowed to buy a computer back at a fixed sum.

No, no-one comes to search your home. That happens when it is a business premises.

Please do post any more questions you have.

I second what sandra says. Dont be alarmed about what posessions you are putting on the form, I simply put normal household appliances only and that was sufficiant, dontlist everything separatley.

You must get advicefrom CCCs, Payplan or someone as the judge will ask what professional advice you have had. He wont make the order if you havent had any !

Good luck !!

Here is another site which has some very good answers...

http://www.debtquestions.co.uk/debt_forum/

tammyfshr

ive been advised by the cccs but my husband hasnt.shall i get him to give them a call and will he need any proof from them that he has called.