The Bankruptcy Club & Supporters Club

jbaugh

ohhh and how long are in the court room for

and when you fill the online form in thats correct at the moment in time what if it changes due to charges and intrest etc

ty

jbaugh

does a creditor ever object ? can they.......stop the br

jbaugh

i have a halifax saving acc with 15 pounds in do i declare it?....its just my bit of money i save for christmas etc

less2303

i have spoken to debt line ...is that enough advice

Yes that should be fine

sorry if asked this already what are the time spans how do you make appoint at court??

Just ring up your local County Court and they will book an appointment for you.

you say benefits what type of benefit?

I would mention it to the Court when you ring for an appointment. What they will probably do is tell you to fill in an application on the day, and they will work it out from there.

It is not so much to do with what benefits you are receiving, as based on your income.

do you just phone court up and say what you want?

Yes.

ohhh and how long are in the court room for

It depends on how bust the court is, but usually no more than a couple of hours start to finish. This includes and initial telephone interview with the Official Receiver.

Alot of this time may be sat about waiting, but you are never in with the judge more than a couple of minutes. At some courts you may not even see the judge at all.

and when you fill the online form in thats correct at the moment in time what if it changes due to charges and intrest etc

Dont worry about this. The OR will be in contact with all you creditors, and will receive the correct figures from them.

does a creditor ever object ? can they.......stop the br

No

i have a halifax saving acc with 15 pounds in do i declare it?....its just my bit of money i save for christmas etc

Yes you must declare all bank and building society accounts that you have.

less2303

Addicted2Chocolate wrote:

If you acquired a car after the bankruptcy order you wuld have to write to your OR and inform them, as with all assets you come into after bankruptcy but before discharge, its called after acquired property. The OR would have 42 days to claim it, if they dont claim it you keep it. Whether it is claimed would depend on the value of the car. It would be better if someone else bought the car and just let you have use of it.
When considering what you should repay, if anything, savings are not allowable as outgoings. But you should be left with some money todo what you want with: eg if income £2000 and reasonable essential outgoings £1500, surplus £500 and IPA of £300 approx would be sought, leaving you with around £200 to do what you want with. These figures stated are not accurate: they take betweeen 33% and 77% of the surplus i think, the biggrer the surplus the more is taken.

Also, if you need a car for your business, then the OR may allow you an amount to purchase another cheaper vehicle, especially if by not having a vehicle would affect you income.

less2303

Addicted2Chocolate wrote:

When considering what you should repay, if anything, savings are not allowable as outgoings. But you should be left with some money todo what you want with: eg if income £2000 and reasonable essential outgoings £1500, surplus £500 and IPA of £300 approx would be sought, leaving you with around £200 to do what you want with. These figures stated are not accurate: they take betweeen 33% and 77% of the surplus i think, the biggrer the surplus the more is taken.

This is a table of IPA percentages that you can expect to pay on any surplus income:

1st Column=SURPLUS INCOME
2nd Column=AMOUNT TO BE PAID
3rd Column=% OF DISPOSABLE INCOME


50 Nil
60 Nil
70 Nil
80 Nil
90 Nil
100 50 50
110 55 50
120 60 50
130 65 50
140 70 50
150 75 50
160 80 50
170 85 50
180 90 50
190 95 50
200 100 50
210 105 50
220 110 50
230 115 50
240 120 50
250 150 60
260 156 60
270 162 60
280 168 60
290 174 60
300 180 60
310 186 60
320 192 60
330 198 60
340 204 60
350 231 66
360 238 66
370 244 66
380 251 66
390 257 66
400 264 66
410 271 66
420 277 66
430 284 66
440 290 66
450 297 66
460 304 66
470 310 66
480 317 66
490 323 66
500 350 70
510 357 70
520 364 70
530 371 70
540 378 70
550 385 70
560 392 70
570 399 70
580 406 70
590 413 70
600 420 70


Hope this helps.

tammyfshr

hi.got a really stressful week this week.driving test today and going bankrupt on wednesday.just some more questions.
1)do we have to declare every bit of money we receice before we are discharged to the or?
2)are you allowed to sell on ebay during bankruptcy ie before discharge?
im only thinking about having another cleanout of household clutter.
3)do i have to declare any money on my paypal account?i have about £80.
4)im starting a open university course in febuary.the course has been funded but i am also receiving 3 weeks after my course starts a grant of £250 for books etc and i will be receiving a cheque for £250 for towards a laptop to complete my course as it is all online and my husband uses this pc nearly fulltime as he is learning web design.should i inform the or of the course and money?
5)when you get a new bank account do you have to inform the or and do they keep checking it?
6)i will have about £1500 in cash the day i go bankrupt.this includes next months rent and for any other household expences.will the or take this?can they take any money that you draw out of the bank the day before?

less2303

tammyfshr wrote:

hi.got a really stressful week this week.driving test today and going bankrupt on wednesday.just some more questions.
1)do we have to declare every bit of money we receice before we are discharged to the or?
2)are you allowed to sell on ebay during bankruptcy ie before discharge?
im only thinking about having another cleanout of household clutter.
3)do i have to declare any money on my paypal account?i have about £80.
4)im starting a open university course in febuary.the course has been funded but i am also receiving 3 weeks after my course starts a grant of £250 for books etc and i will be receiving a cheque for £250 for towards a laptop to complete my course as it is all online and my husband uses this pc nearly fulltime as he is learning web design.should i inform the or of the course and money?
5)when you get a new bank account do you have to inform the or and do they keep checking it?
6)i will have about £1500 in cash the day i go bankrupt.this includes next months rent and for any other household expences.will the or take this?can they take any money that you draw out of the bank the day before?

1) Day to day money, no. Anything like a lottery win, or inheritance yes.

2) No, as long as it's small amounts. Any large amounts could give rise to the OR thinking you have withheld information about valuable assets!

3) Most people don't, especially if its a small amount.

4) I wouldnt worry about it. If the OR picks up on it for any reason, just have the paperwork available to show where it has come from.

5) No, there is no need to, if any large amounts go into it, the OR will probably be alerted anyway.

6) No, it is reasonable for you to draw any monies you need for day to day living and monthly bills before BR.

Mike_St_Helens

tammyfshr wrote:

hi.got a really stressful week this week.driving test today and going bankrupt on wednesday.just some more questions.
1)do we have to declare every bit of money we receice before we are discharged to the or?
2)are you allowed to sell on ebay during bankruptcy ie before discharge?
im only thinking about having another cleanout of household clutter.
3)do i have to declare any money on my paypal account?i have about £80.
4)im starting a open university course in febuary.the course has been funded but i am also receiving 3 weeks after my course starts a grant of £250 for books etc and i will be receiving a cheque for £250 for towards a laptop to complete my course as it is all online and my husband uses this pc nearly fulltime as he is learning web design.should i inform the or of the course and money?
5)when you get a new bank account do you have to inform the or and do they keep checking it?
6)i will have about £1500 in cash the day i go bankrupt.this includes next months rent and for any other household expences.will the or take this?can they take any money that you draw out of the bank the day before?

Ooooo.... Let us know how you get on with yout rest....

Good thoughts.......

Mike_St_Helens

less2303 wrote:

Yes that should be fine



Just ring up your local County Court and they will book an appointment for you.



I would mention it to the Court when you ring for an appointment. What they will probably do is tell you to fill in an application on the day, and they will work it out from there.

It is not so much to do with what benefits you are receiving, as based on your income.



Yes.




It depends on how bust the court is, but usually no more than a couple of hours start to finish. This includes and initial telephone interview with the Official Receiver.

Alot of this time may be sat about waiting, but you are never in with the judge more than a couple of minutes. At some courts you may not even see the judge at all.



Dont worry about this. The OR will be in contact with all you creditors, and will receive the correct figures from them.



No



Yes you must declare all bank and building society accounts that you have.

Thanks for answeing those.. couldnt make it up any longer so had to go to bed !! You were up early !!