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The Bankruptcy Club & Supporters Club

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  • I agree with sandra, you should only use the credit card or other credit facilities to raise the bankruptcy fee if you have no otehr option. You shoud not continue to use availabe credit with the knowledge you cant repay it because you are going bankrupt, this is definately grounds for your case to be investigated further by the OR with a view to obtaining a BRO.
    What a pickle!

    The OR will go by the latest up-to-date information given to him/her. Don't worry about that.

    You are not supposed to use any credit you have left!! It may be viewed in a very dim light by the OR. If it is only the fee for bankruptcy it may be okay. However, if you go mad and spend, spend, spend immediately prior to your bankrutpcy they view it as being reckless and it will result in a BRU. Not that a BRU matters much, it just lengthens the time you are not allowed any credit!
  • tammyfshr
    tammyfshr Posts: 343 Forumite
    so the time dalay shouldnt affect things?will the or see the new up to date form or have we cant to tell them the new details when we have the interview?
    we have only used some credit as the tv decided to blow up on new years day and then our house phones have packed up.it seems the closer we get to bankruptcy the more we are having to pay out.
    im due to take my diving test on 22nd jan as my husband cant drive because of epilepsy and we have a 18 month old.so the car would be an essential to us.we havent got one but should we get one before or after the court day.would the or take it?
    during our bankruptcy term if we come of benifits would we then have to start paying money towards the dedt?its a big if as my husband needs to get his medication right and we are waiting on specialist appointments.how much control does the or have over you during this time?do you have to inform them of jobs/housemoves etc?
  • tammyfshr wrote:
    so the time dalay shouldnt affect things?will the or see the new up to date form or have we cant to tell them the new details when we have the interview?
    we have only used some credit as the tv decided to blow up on new years day and then our house phones have packed up.it seems the closer we get to bankruptcy the more we are having to pay out.
    im due to take my diving test on 22nd jan as my husband cant drive because of epilepsy and we have a 18 month old.so the car would be an essential to us.we havent got one but should we get one before or after the court day.would the or take it?
    during our bankruptcy term if we come of benifits would we then have to start paying money towards the dedt?its a big if as my husband needs to get his medication right and we are waiting on specialist appointments.how much control does the or have over you during this time?do you have to inform them of jobs/housemoves etc?


    First of all your up-to-date forms needed to be handed in on the day of your bankruptcy hearing.

    I would buy a car after you are made bankrupt not before as it may cause problems.

    During your period of undischarged bankruptcy, maximum 12 months, the OR must be informed of any and all job/money changes within 21 days of that change.
    The OR has complete control and access to your details during bankruptcy.

    Any IPA must be started within the period of undischarged status so if you were to come off benefits within that time-frame and work, then yes it will affect getting an IPA in the first place.
    The IPA has nothing to do with your debts or your creditors - it has to do with surplus income after necessities are paid out of your income.
  • tammyfshr
    tammyfshr Posts: 343 Forumite
    if its just my husband that goes back to work is it just him that pays the money?.is it alot?
    how long do you pay it for?and if we get a bru will that mean a longer time that the or knows our details and a longer time for them to start a ipa in?
  • tammyfshr
    tammyfshr Posts: 343 Forumite
    can you get a IPA if you are just on benifits?
  • tammyfshr wrote:
    if its just my husband that goes back to work is it just him that pays the money?.is it alot?
    how long do you pay it for?and if we get a bru will that mean a longer time that the or knows our details and a longer time for them to start a ipa in?

    If you are going bankrupt jointly, which I think you are, the OR will combine income to work out an IPA.
    The IPA is around 50% of disposable income.

    A BRU lasts for between 5-15 years and really just means that you will not be able to get credit.
    An IPA can only be started in the initial 12 months of bankruptcy.

    An IPA would not be given if the only income is State Benefits.
  • tammyfshr
    tammyfshr Posts: 343 Forumite
    how long does it last for?
  • An IPA is for 36 months
  • tammyfshr
    tammyfshr Posts: 343 Forumite
    im sure im going to get a bru as i havent kept records and in the past year i have took out large chunks of money out of my accout to keep at home and spend to try and curb my spending.my mum has even transfered money to my account to help me pay of dedts but i even spent that.i have spent so long lying and being depressed and suicidal.bankruptcy seems my only option but it seems so complicated.my husband isnt helping.
  • By records you mean bank statements? The OR has access to all of those, plus all your credit card statements. Don't worry about that.

    Bankruptcy will allow you to make a fresh start.
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