The Bankruptcy Club & Supporters Club

Mike_St_Helens

Now Now.... Ill be putting my foot down if this doesnt stop guys.

lou031205

So my little 2p's got put in the penny jar instead of being spent wisely, I see.

Doesn't really matter who works for who, in my opinion. Bad advice is bad advice wherever it comes from, and I'm sure no-one intends to deliberately misinform.

ANYWAY:

If I post later, it will be as a broke, exhausted debt-free[/I] member of the BCSC (oh, and bankrupt!).

THANK YOU GUYS FOR ALL YOUR SUPPORT. I hope I can start doing some of the supporting soon :T

Louisex

less2303

Good luck for this morning Louise, I'm sure it will all go well for you!

sarah_ace1

someone is going bankrupt today so good luck to you and post your info please to reassure those of us waiting!

MIKE, cani have a number please cosi'm still waiting for the 29th jan..eeeks,,,less than 2 weeks now...

bluejulie

tight_jock wrote:

My OH teaches and is unaffected careerwise as a teacher.

The rental company may not need to know ! Check your lease agreement to see if any mention of bankruptcy in it regarding your tenancy. If not , there are no arears and you can show your regular payments by DD then the OR may not have to contact your Landlord. We asked that the OR did not contact opurs - and he didn`t. :j

As soon as you make the decision to go BR , go and speak to your bank - or another if they are one of your creditors - and ask them if you can open a Basic Account (cashcard only) for your salary. You can also set up your DD from this type of account.

Thank you very much for your advice!
I already have a Nationwide cash card account.Can I keep it and transfer my salary and direct debit before I apply for BR or I need to have a new cash account after I am declared.
Thanks

sandralovescats

installspark wrote:

It has been known for an OR to make an IPA where the income source is made up of benefits.

To quote from the technical manual can be misleading as this is currently out of date and is subject to TO's which are not made available in the public domain.

Please bear this in mind, especially as the technical manual is open to varying degrees of interpretation by OR's and IP's and should be referred to for guidance only.

State Benefits are NOT included as part of any IPA calculation, or for the setting up of an IVA

There have been examples on this thread of just that scenario.

sandralovescats

The fact remains that Myvesta were a godsend to me when no-one else would listen, including other "famous" companies.

We are here to help others along a pathway which we have all trodden. I have spent numerous years in counselling people - to help them not to worry or frighten them about the basic facts of living.

jewelsss

My apologies, I've only just found this thread so I'm sure this has been asked before but there are 111 pages to try to go through!
So can someone point to an article/thread/whatever that actually lists the consequences of going bankrupt?
My partner is getting to the end of his tether but worries they will take the house off us, even though it's in my sole name and that he'll never get credit or be able to run a business again

tight_jock

boo-boo wrote:

Thank you very much for your advice!
I already have a Nationwide cash card account.Can I keep it and transfer my salary and direct debit before I apply for BR or I need to have a new cash account after I am declared.
Thanks

That all depends on your banks policy. I think I have seen people recommending Nationwide on here before so it may be a case of going into local branch and letting them know the situation and ask them if they can give you advice about what account to open or if you can use the existing account. This should not cause any problems unless they are one of yoour creditors.

I was told it is the individual bank which will freeze your account when notified of your status by the OR and not the OR who directs it. Pretty sure this is the case.

tight_jock

jewelsss wrote:

My apologies, I've only just found this thread so I'm sure this has been asked before but there are 111 pages to try to go through!
So can someone point to an article/thread/whatever that actually lists the consequences of going bankrupt?
My partner is getting to the end of his tether but worries they will take the house off us, even though it's in my sole name and that he'll never get credit or be able to run a business again

Hi and welcome

Try https://www.isolvency.gov and spend a few minutes on there. Lots of further advice available on here - probably best to ask specific Q`s for ease of reply.

If house is in your name and you are not going to be BR then it is not an asset of the BR estate.

Credit can be obtained at a later date but you may pay higher interest. Credit files should show nothing after 6 years

He will still be able to run a business but there will be restrictions for the period of the BR until discharge.

Hope these basic answers help. Others may be able to give specific advice when they come along later.

TJ