The Bankruptcy Club & Supporters Club

skylight

I wouldn't worry about it too much Lou - the ORs are human beings too and know that you need money to live on over the month. The OR is unlikely to to freeze the account until you have spoken to him (her) anyway, so will know all about the wages and why you removed them becuase you will have told them.

scootw1

Mike_St_Helens wrote:

Nah Scoot... I can spend that in 10 mins in my big tesco....

Your right though, it all depends on if they say yes. We had a lender that wanted to make us B and also sent us the notification crap... I chose stuill to do it myself. Also on some applications for things they say has anyone ever made you bankrupt or initiates civil proceedings against you, if you do it yourself, your answer will be no still....

Well, yes I could spend that as well (nice PC I've seen) but I don't think the OR would be too happy with that. Guess the best thing to do would be to wait for the meeting and see what happens. I have contacted the insolvency website as well to see what they say.

tammyfshr

hi
did ask before but no luck.can someone help me with figures for my forms?
(two adults and a 18 month old)

Mike_St_Helens

tammyfshr wrote:

hi
did ask before but no luck.can someone help me with figures for my forms?
(two adults and a 18 month old)

Sorry.... Well... here is what I put for 2 adults

Council Tax £100.00
Building Insurance £35.00
Gas £60.00
Electricity £50.00
Water £30.00
Hols £60.00
TV Licence £12.00
Telephone/PAYG Mobile £50.00
Road Tax/MOT £20.00
Car Insurance £40.00
Petrol £200.00
Car Maintenance £40.00
Breakdown Cover £10.00
Food £320.00
Dry Cleaning £20.00
Clothing £40.00
Haircuts £20.00
Prescriptions £15.00
Dentist/Glasses £15.00
Pet Insurance £10.00
Pets £25.00

Brokeandbothered

Mike_St_Helens wrote:

Rats.... :eek:

I'll have you know that my rattie babies can read, and they're not very happy with you..........:rotfl:

Mike_St_Helens

Brokeandbothered wrote:

I'll have you know that my rattie babies can read, and they're not very happy with you..........:rotfl:

OMG theyll nibble my nibbly bits !

Whoops_Apololypse

Hi - well we've now spent 5 hours in the lovely company of the CAB man, but we're almost none the wiser! Their various specialist are arguing over our situation and our action plan! It's because we have negative equity of £80K due to secured loans and £50K of unsecured debt. We need to know if we should let the house be repossessed then the negative equity becomes unsecured debt, then go bankrupt or go bankrupt now with the high chance of the OR not selling the house because of negative equity then it being repossessed anyway by the mortgage lender and loan company in due course. PLEASE can someone shed some light on this. The CAB have said there's nothing more they can help us with other than help in filling out the forms. I think you guys are more helpful than they've been.

bluejulie

It's my first time on this board and I would appreciate any help with my current debt situation.
I made a contact with CCCS and had my phone interview today. I was advised to go bankrupt. My situation is complicated as I am getting divorced, moved out of a joint property and rent at the moment. My debt is thanks to my ex-husband who is refusing to pay a joint loan, joint account etc.
I am a teacher and I’m not sure if bankruptcy will affect my job, it will probably. I am paying my rent monthly and I am up to date with my payments but I am concerned that the agency will evict me from the property if I go bankrupt. And what happens to the salary in case of bankrupt and closing all bank accounts?
I was thinking to apply for a DMP with CCCS and probably change to IVA next year when our property is sold-Is that possible?

less2303

lou031205 wrote:

Hi, I've just had the following conversation online with a Myvesta UK Senior Advisor:

Chat InformationYou are now chatting with Len, a Myvesta UK Senior Advisor.
Len: Hello, you are chatting with Len. How can I assist you?
louise: hi len
louise: i file bankruptcy tomorrow with my husband.
louise: he has just found out that this month's pay has already been processed, and will go into our current bank account.
louise: the bank account has no debt, but will obviously be frozen. how do we deal with this?
Len: is there any overdraft limit on the account or do you have any other debt withy that bank
louise: no, we were considering IVA originally, so opened new bank accounts as advised, and deliberately asked for no o/d. account does have cheque and debit cards.
louise: this account is Barclays, we have debt (lots!) with Lloyds
Len: that should be fine then. You should still be ok to use the account
louise: Barclays, before we knew about this, told us that they would be freezing account as soon as notified of BR by OR. They also said that under no circumstances would we get to keep it - bank policy is cashcard account only.
louise: I also read that illegal to use account once BR without asking permission from OR. Just worried, 'cos no guarantee that we will see an OR soon....
Len: when you spoke to Barclays were they aware you had no debt with them
louise: Yes. We explained our situation, and said that as we had no debt with them, and had read that some customers had kept their well-run accounts, we were hoping they would consider it.
louise: The bank manager showed us his online procedure manual, which stated that the only account possible is cashcard.
louise: we live in a very small town
Len: you are still entitled to open basic bank account. You could try asking barclays to open one for you, or you could try Nationwide or Coop. All 3 advertise that they will open basic bank accounts for anyone
Len: the problem is getting access to the salary.
louise: absolutely
louise: That is my only worry.
louise: I will only have about £300 wages, so all bills come out of ben's wage, which will be frozen
louise: Don't want to default on bills first month of BR
Len: It may take a day or so before barclays are notified of the bankruptcy, so you may have time to get to the cash
louise: But i thought this was illegal without permission from OR
Len: is it that you have your hearing tomorrow or just filing the papers
louise: both
louise: papers already submitted online. Court hearing 09.30
Len: there is nothing to stop you drawing the money out if you can before the hearing
louise: wages not paid until Friday
louise: but already confirmed, so no changes possible from payroll
Len: It mat still take a day or so before barclays are told. You need to get the money for food etc.
Len: The Official receiver will not have a problem with this

I have read masses of posts, and info, in preparation for the big BR day. Am I wrong? I thought that I would be breaking the law if I did any of the things highlighted in red?

Am confused why I would get that advice from a Senior advisor, but now am REALLY confused.

Hope you can help.

Louisex

Hi Louise,

The first thing to remember is it is the bank that freezes your bank account, not the OR.

From what you have said previously about Barclays policy is a bit concerning, and possibly indicates a bit of a hard line response from them, with them automatically freezing it.

From what you have said you are going BR tomorrow, and you OH wages are paid in Friday, and you have concerns about what you have read about `it being against the law` to withdraw funds without the OR's permission.

Can I perhaps suggest the following.

When you have your telephone interview tomorrow, let them know about your situation, and explain how important it is that you have the money for bills etc. If you do this, the OR's office MAY fax the bank and inform them that the have `no interest` in the money being paid in on friday. This course of action keeps everything above board for you, and avoids any potential problems.

It has been known for OR's to fax banks with notice of the BR and also stating that they have no interest in the account, which has resulted in the account remaining open, but please remember that it is solely down to the banks disrection.

Unless anyone else comes up with any other way round it, I think this is the best course of action, and then you havent done anything open to critisism from the OR.

There have been alot of problems similiar to this in the past, with varying results, some still have been frozen and some have remained open.

I know its of no consolation to you, but these circumstances are why it is always advised to open an account after BR, even as soon as you leave the court!

Mike_St_Helens

Whoops_Apololypse wrote:

Hi - well we've now spent 5 hours in the lovely company of the CAB man, but we're almost none the wiser! Their various specialist are arguing over our situation and our action plan! It's because we have negative equity of £80K due to secured loans and £50K of unsecured debt. We need to know if we should let the house be repossessed then the negative equity becomes unsecured debt, then go bankrupt or go bankrupt now with the high chance of the OR not selling the house because of negative equity then it being repossessed anyway by the mortgage lender and loan company in due course. PLEASE can someone shed some light on this. The CAB have said there's nothing more they can help us with other than help in filling out the forms. I think you guys are more helpful than they've been.

1st welcome....

You sound like you need to get rid of that house you know... peeps will be here soon to advise.

Mike x