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Questions about Bankruptcy - Please Help!
Comments
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But doesnt the income tax you would have paid go straight to the OR?You dont actually see it?BYould wrote:Another point to remember when going bankrupt which is related to Bankruptcy is that you do not have to pay income tax whilst bankrupt, this was quite a surprise to me. It would help in your case if you have to pay a deposit back to the council.0 -
how much is the house worth?
how much is the mortgage and how much are the secured loans for?
is the house jointly owned?
are the mortgage and secured loans in joint names
are the unsecured debts in joint names ? if not which are which?0 -
If the is no or little equity in your house then bankruptcy may be ok. I can't see that renting is a cheaper option for you and what will you get for less than £650 per month? Maybe an IVA would be better or even a DMP. Maybe phone cccs or payplan for a second opinion before doing anything drastic.0
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can you do a full SOA with all the other things TV license, council tax, mobile phone bills, estimate on what you are spending on food etc
I notice your sons GF lives with you- how old is she?:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
BYould wrote:Another point to remember when going bankrupt which is related to Bankruptcy is that you do not have to pay income tax whilst bankrupt, this was quite a surprise to me. It would help in your case if you have to pay a deposit back to the council.
Hi BYould,
You're right about not paying income tax but I think the tax you would have paid goes directly to the Official Reciever; would love to be wrong.
Rich0 -
Mortgate and Secured loans in joint names. Other debts are mixed. House is worth approx 99k. Mortgage (1) is for 36k, mortgage (2) 45k and loan 6k. My sons g/friend is 17 and at college with a p/time job. He has just started a f/time job but need to sort out some board with them.0
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sick as a chip
my understanding is that the child benefit for her if she is full time education should be paid to you as you are "informal carer"
Speak to the DWP about it
:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0
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