The Bankruptcy Club & Supporters Club

scootw1

Just spoken to nationwide. They said I would keep my bank account but it would be frozen until the OR tells them otherwise. All DDs would be cancelled and I would have to set them up again

Mike_St_Helens

scootw1 wrote:

Just spoken to nationwide. They said I would keep my bank account but it would be frozen until the OR tells them otherwise. All DDs would be cancelled and I would have to set them up again

My OR told my bank the same day.... Never frozen...

scootw1

The lady in Nationwide phoned their Bankruptcy division and that is what they told them.

Anyone any thoughts on my other question? About drawing all the money out before goign bankrupt? Whether the OR will question it?

scootw1

In fact, they said I should inform them before going bankrupt

Mike_St_Helens

scootw1 wrote:

The lady in Nationwide phoned their Bankruptcy division and that is what they told them.

Anyone any thoughts on my other question? About drawing all the money out before goign bankrupt? Whether the OR will question it?

Again mate, Like I said the other day. I have been doing this for a few months now. If it gets questioned, Ill simply tell them that it is my new way of trying to budget and live with what cash I have. Which infact is the truth.

If they ask, Simply tell...

scootw1

But the difference being that I am in an IVA. They may think that I was just trying to get away with payments for a month before filing around christmas

scootw1

Mike_St_Helens wrote:

Thats better... here is the IPA Calculator...

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

Actually, my student loan debt will return from the IVA so my surplus should be £400

Mike_St_Helens

scootw1 wrote:

But the difference being that I am in an IVA. They may think that I was just trying to get away with payments for a month before filing around christmas

And the problem is?... You have to save up for the bankruptcy fees. You have to have enough cash to live on after bankruptcy and before your next payday... It wont even gert questioned as long as you are sure you are going to go bankrupt.

monkeyy

Mike_St_Helens wrote:

Following on from that. Beware on what they do say. They are very good when they want to be. But they can give increadibly bad advice, incorrect and can be somewhat judgemental when they want to be. They are bvolunteers, not experts remember.

Went in and Have an appointment, today at 5 so fingers crossed, apparently the woman said %70 of the people she deals with are to do with debt.hopefully will get some decent advise.

scootw1

Mike_St_Helens wrote:

And the problem is?... You have to save up for the bankruptcy fees. You have to have enough cash to live on after bankruptcy and before your next payday... It wont even gert questioned as long as you are sure you are going to go bankrupt.

Quite sure