The Bankruptcy Club & Supporters Club

Richard_S

Mike_St_Helens wrote:

Yeah... Theyll want the tax off you....

You can have an NT tax code though for many reasons. If I get pulled into HR about it, Our bankruptcy actually states the business details and the fact that it went bust with trading details.. Ill let them know its all to do with tax etc etc....

Hi Mike,

Do you know how they recover any tax rebate, or income that would otherwise have been paid in tax, if your salary is paid directly into a bank account.

The house that we're renting at the moment needs a lot of money spending on it to bring it up to a reasonable standard, (things like six person sauna, spa and jacuzzi lol) and that extra money would be very helpful.

Rich

scootw1

and I can submit those forms printed off from the web instead then?

Just checked some of the guidelines and they say I should not draw out any money from the account. Is this after you take the forms in? Should I draw all the money from the account before I go bankrupt?

sandralovescats

scootw1 wrote:

and I can submit those forms printed off from the web instead then?

Just checked some of the guidelines and they say I should not draw out any money from the account. Is this after you take the forms in? Should I draw all the money from the account before I go bankrupt?

You are supposed to submit and print off the forms online as near to the actual br day as possible so that it is totally up to date.

As soon as you click on the submit button on the site, it sends the forms online, and allows you to print the copies.

You must not take any money out of a bank account from the time you are declared bankrupt in court.

Yes, you need to draw the money out - the day before maybe.

Hope this helps.

scootw1

if I drew the money out and the OR asked to see the bank statements would they not question the big withdrawal? how many statements would they want?

You wouldnt be able to draw money afterwards as the account would be frozen. How long before the account is unfrozen and do they have control over it?

Mike_St_Helens

Richard_S wrote:

Hi Mike,

Do you know how they recover any tax rebate, or income that would otherwise have been paid in tax, if your salary is paid directly into a bank account.

The house that we're renting at the moment needs a lot of money spending on it to bring it up to a reasonable standard, (things like six person sauna, spa and jacuzzi lol) and that extra money would be very helpful.

Rich

Hiya Rich...

I think they go direct to the HRMC and any refunds go directly to the insolvency account.

Ive just had a claim on my kitchen ... N0b of a neigbour ! 3k spent on it, but ive been able to do most myself as i know the bulider.. so a kitchen has turned ito a fully fitted kitchen with new hob, back door, and dining and living room wooden floor...

have you not got a daft neighbour ?

Mike_St_Helens

scootw1 wrote:

if I drew the money out and the OR asked to see the bank statements would they not question the big withdrawal? how many statements would they want?

You wouldnt be able to draw money afterwards as the account would be frozen. How long before the account is unfrozen and do they have control over it?

I have been taking out all my wages out for months, If they ask why we take 2k + out in cash each month, ill tell him.. I manage better with cash.

The account is not always frozen, My OR wrote and said that she would like to keep the acc open for us.. Lloyds have done, and we keep the debit card and cheque book.

Mike_St_Helens

sandralovescats wrote:

You must not take any money out of a bank account from the time you are declared bankrupt in court.

Hope this helps.

Unless the OR tells you when you see them. We were able to continue using the acc the same day.

scootw1

Do they control the bank account? In other words, do they check everything you draw out etc

sandralovescats

Mike_St_Helens wrote:

Unless the OR tells you when you see them. We were able to continue using the acc the same day.

I have already moved to a basic account so mine won't be frozen.

You were very lucky to be allowed to keep your cheque book!

Ames

Wow, been away for a few days and took ages to catch up on all the posts! I've decided to wait for the br, I need to pay for heating so I'll save up for the br over a few months rather than blow everything on the fees and freeze through winter. Also decided to do the forms online rather than the paper ones since I can't actually write enough to fill them in, it's too painful.

Just a quick question though, I think one of my lenders is in breach of the bankers code and so I want to make a complaint, is there any point if I'm going br, since if they are at fault surely the OR will deal with it?

Couldn't believe the letter I got the other day, egg know that I'm in financial trouble but they wrote and increased my cc limit. No idea how their charges work, they told me to keep £10 below my limit so I wouldn't go over and get fees, so I stayed £20 below and somehow incurred £70 of charges. But not to worry, they've increased the limit to cover the charges. What on earth goes through their minds?! Also getting stroppy letters of Mercers, who were so friendly when I spoke to them on the phone. Don't suppose for a second though I'll be 'lucky' enough to get them to make me br and save myself money.