Saving up for Bankruptcy

James&Shell

Hi Guys & Gals,

Shell has decided that she will go bankrupt as this is the best route of action for her.

What my question is,

How long did it take you to save up for your bankruptcy?

What were they creditors like?
Any help and advice would be fantastic.

Shell has been on a dmp and the creditors keep hassiling her.

Cheers

James

earwig

hi sorry cant help with your question but i am in the same boat as you my oh went bankrupt and is now discharged but i am on a dmp but would like to go bankrupct as we still struggle to pay our dmp and stop spending on my credit cards and i am saving to go bankrupct to good luck to you with it and i hope it all gose well i will be glad when it is all over and we can start living again instead on getting by each month

less2303

If she is going BR in the near future I would suggest that she stops paying her creditors, and puts that money towards the fees.

tight_jock

less2303 wrote:

If she is going BR in the near future I would suggest that she stops paying her creditors, and puts that money towards the fees.

I agree with less. First get advice, then stop paying any one as soon as you have made your definite decision. Then get your forms done and apply for a date.

The professional advice is important as the judge will probably ask if you have taken any.

Best of luck

Mike_St_Helens

We stopped our DMP about 3 months before B day.

Dont forget any utility bills she may have in her name will be included in B so if she pays monthly for any of them and its a fairly short time till B then Id stop paying them too.. The same goes for council tax....

James&Shell

HI Guys thanks for your responses.

all of the ulility bills and the council tax are in both names so we will continue to pay them s and when they are due.

We have decided to top paying the dmp now and save the money aside i have now written to all the creditos concerned and informed them that she is preparing to go bankrupt

Mike_St_Helens

James&Shell wrote:

HI Guys thanks for your responses.

all of the ulility bills and the council tax are in both names so we will continue to pay them s and when they are due.

We have decided to top paying the dmp now and save the money aside i have now written to all the creditos concerned and informed them that she is preparing to go bankrupt

Thats good... Will it take you long?

James&Shell

it will probally take 3-4 months but i figured out that the worst they could do is to give her a ccj and as all the money to pay them comes out of my wages and the only money that she gets is child benifit at the moment.

she wouldnt have to pay more that say £1-2 each and then sh will go br anyway.

Sorry for the ramble

James