questions from my brother

bradleigh1977

My brother has got himself in debt and for whatever reason wants to go BR. Now when i had to do it, i was the only breadwinner so it was simple.

What he has is around £15000 of debt plus his business has been put in trouble for around £10000.

He is married and his wife works, but the business overdraft (£10000) is guarentorred ???? by his wife. And i think another 10000 in personal debt is a joint loan.

So he is wanting to know what would happen if he went BR.

Would his wife be liable for the business debt and the other debt as its joint?

If this is the case then he will need to re think his options, i have told him to contact national debt line, but i thought id ask here first as i got a lot of advice for myself.

Can you put joint debt in single Bankruptcy?

Thanks in advance



brad

philnicandamy

Once someone is declared bankrupt then ALL joint debts will fall to the person not bankrupt...

has he spoken to any of the debt helplines yet??

Best 1st try here

http://www.bdl.org.uk/

bradleigh1977

No he hasnt yet, it only been in the last hour or so....So al the joint debt going to his wife isn't going to help at all. Unless they both go BR? i know its 2 lots of fees but 2 lots of fees is better than the worry and grief they have now i suppose?

philnicandamy

thats why he needs to speak to one of the debt helplines really ASAP to see what options are available out there to him

bradleigh1977

what we have found out that one of his debts is barclaycard. Now he asked me what i did for a bank account, and i walked form the court to barclays and got a new account.

He wants to know if he gets an account at barclays the same day he is made BR, obviously barclaycard wont know for a while, will they then shut down his account at barclays, when barclaycard find out they have been made one of his debtors?

Or is barclaycard seperate to barclays?

Thanks in advance

brad

skintandscared_2

Barclays isn't the only bank in existence. Can't he just use a different one?

Ineedaname

The other BR friendly bank account is the Co-Op Cashminder, he can get that.

BUT, as Phil has said twice, he needs to speak to Business Debtline sharpish to get free professional advice relating directly to his circumstances.

We can only suggest on here and it's more difficult to do that as you are asking on his behalf.

bradleigh1977

he has spoken to debt line now. And the reason he asks me as i am a discharged br, but it was easy for me. He is going to get a barclays and a co op i think, and if barclays close it then he has th co op.

Ineedaname

I understand why you are the one asking on the forum and wasn't critising that. Just explaining it's difficult for members to say much based on second hand information.

Glad he's called them now though.

He'd probably be best just getting the Co-Op account for now, he can always try and open a Barclays account later if he needs two accounts, or just open another Co-Op one...

tigerfeet2006

Barclays will allow you to open their basic account after BR even if he owed them money. If he opens it before they will close it.

Co-op Cashminder can be done over the phone 08457 212212 and you can do it before BR unless they or Smile are a creditor, then they generally won't give you an account.

Cashminder will give you DD and SO, telephone and Internet banking, a visa debit card, you can use any Post Office or Britannia BS to deposit money or cheques, you can use any link machine to withdraw cash.

Barclays you will have to go in branch to open, you have DD and SO, visa debit card, they do NOT allow telephone and Internet banking to BR's, you can go into any branch to deposit money or cheques and withdraw money from any link machine.

bradleigh1977

tigerfeet2006 wrote: »

Barclays will allow you to open their basic account after BR even if he owed them money. If he opens it before they will close it.

Co-op Cashminder can be done over the phone 08457 212212 and you can do it before BR unless they or Smile are a creditor, then they generally won't give you an account.

Cashminder will give you DD and SO, telephone and Internet banking, a visa debit card, you can use any Post Office or Britannia BS to deposit money or cheques, you can use any link machine to withdraw cash.

Barclays you will have to go in branch to open, you have DD and SO, visa debit card, they do NOT allow telephone and Internet banking to BR's, you can go into any branch to deposit money or cheques and withdraw money from any link machine.

When you say they dont allow for BR internet etc, when i was made BR, i walked across the road from the court into barclays and opened the account. within 4 days i had everything, except credit obviously. i mean DD,SO, internet and telephone banking, visa debit?


Have they changed the rules? i went BR in november 2009?

Thanks again for everyones replies, the reason i asked as i said, my situation is different from my brothers, i was the sole bread winner. My brothers company has been knocked, so hes used his own money etc to try and keep it going but with no success, so he is facing bankruptcy.

Him and his wife are spending the weekend discussing there options, as they are both going to have to go BR or she wil be stuck with half the debt.

Anyway thanks again for the advice on partners and banks.:money: