A few more questions

MichMoor

Hi, can someone help with a few questions before I make my decision:

When you petition for bankruptcy do you have to go to a particular court, ie your local one or can you go to any, would prefer not to go to a local one if I do not have to.

I pay my car insurance monthly, what happens to that? Is it automatically cancelled? And when I want car insurance in the future will I have to pay upfront, not allowed to pay monthly.

I am in a contract with gym membership, would I have to list this on my forms so it is cancelled? I appreciate under the new IPA rules it is unlikely I will be able to afford it.

Thanks in advance

Two4Tuesday

You do have to go to the local court which has jurisdiction over the area where you spent more than half of the last six months - I fell foul of this originally as I moved from the North East of England back to London during separation, and six weeks later my petition for bankruptcy at the High Court was originally not heard because I hadn't lived in London long enough. I had to come back at the end of July (I couldn't go to my old court as I had been sectioned and the psychiatric hospital wouldn't let me go away that far)

I think your car insurance should be okay to keep paying but am not sure about it. Bear in mind that your car might be taken by the OR depending on its value.

If you intend to cancel your gym membership, it might be an idea to cancel it first and then petition for bankruptcy to ensure that they can't claim it's a new debt.

MikeJO

None of my monthly payments (car insurance, gas, electric, water, TV Licence, phone, satellite, internet) have been stopped.

Might be a problem if you want to change supplier/insurer in the future though.

dojoman

MichMoor wrote: »

Hi, can someone help with a few questions before I make my decision:

When you petition for bankruptcy do you have to go to a particular court, ie your local one or can you go to any, would prefer not to go to a local one if I do not have to.

I pay my car insurance monthly, what happens to that? Is it automatically cancelled? And when I want car insurance in the future will I have to pay upfront, not allowed to pay monthly.

I am in a contract with gym membership, would I have to list this on my forms so it is cancelled? I appreciate under the new IPA rules it is unlikely I will be able to afford it.

Thanks in advance

I still pay all my utilities, insurances etc monthly, I have twice changed utility supplier without a problem, the last time being only last week when I changed from Eon to EDF via Quidco. If you are still BR and the amount is over £500 tehn you would have to inform the insurer but if it is below £500 then you don`t. All you have to be careful of is the T & C in case they mention BR. As for your Gym, unless it was medically essential then you will not be allowed it on your SOA.

ontheroad_2

MichMoor wrote: »

Hi, can someone help with a few questions before I make my decision:

When you petition for bankruptcy do you have to go to a particular court, ie your local one or can you go to any, would prefer not to go to a local one if I do not have to.

as i understand it, you have to go to the court which deals with your residential address as long as you have lived there for more than 6 months

I pay my car insurance monthly, what happens to that? Is it automatically cancelled? And when I want car insurance in the future will I have to pay upfront, not allowed to pay monthly.

check your existing policy - I went BR less than a month before my policy renewal. If your existing insurers are not BR friendly you should cancel your policy and any remaining payments will go into your BR. You can get monthly car insurance premiums after BR - I did, with Co-op (very competitive they were too ).

I am in a contract with gym membership, would I have to list this on my forms so it is cancelled? I appreciate under the new IPA rules it is unlikely I will be able to afford it.

Thanks in advance

Don't know about the gym membership, sorry

andyf1980

Depends if you want to keep it or not. I was with David Lloyd and I sent them a copy of my br and they said they wouldn't bother me any more :j