What happens with Bankruptcy

plumduff-2

An IP will not visit your home to see what goods you have hidden under the bed... they are generally overworked and underpaid and do not have the resources to do this... Unless tthey have reason to believe you have substantial assets.. your postcode or the fact you own a betley could alert them to this...

Re the ad - ask yourself... have you even noticed the ad in the classifieds..? If not, then you can usually expect no one else you know has... I look at them, but dealing with BR is part of my job, and im nosey... it is very small and tucked in between the local councils road notices and all that crap... your parents and friends probably dont read the classifieds, so dont let this stop you...

Oldernotwiser

wonawin wrote:

Hi
Going bankrupt scares me as I understand that it is published in local newspaers and on a register. I would hate my family to know that I have gone bankrupt. I have been paying minimum payments on my credit cards for years paying one to pay another it has esculated to 59k have entered a DMP and I am paying 400 per month into that. I can only do this as my husband is keeping me and I have only incapacity benefit. He is not aware that I have entered into a DMP. The debts esculated after I finsihed work through ill health 10 years ago, I feel I have already done a life sentence as the debt is really all interest charged by the credit card companies.

I understand the IP visits you at your house for discusions and I wondered what sort of things they ask etc. I am in rented property and have no assets. Is bankruptsy published in local newspapers??? Please advise thanks

How can you be paying out £400 pm and your husband doesn't notice?

wonawin

Hi thanks for your messages. He doesnt know I am paying £400.00 per month because this is money that has gone into my account for 10 years since i finished work. It is every penny of income I have as it is incapacity benefit and small pension. He has his own salary.

I had a couple of visa cards 10 years ago and after finishing work I could not afford to pay them only the min payments. I used them to draw cash back off them to pay them again. I think I probably owed about 15000.00 at that point and my incapacity benefit was much lower then. However over the years the interest etc has spiralled together with a loan I took out I now owe 59k. One credit card company has charged me £10.000.00 in interest over last 2 years, I only paid min payments and drew cash off to pay another card and so on.

I feel I have already given all my incapacity benefit and private pension to visa card interest over the last 10years and got deeper into debt. I have not used them for luxury items or holidays or anything like that. Hubbys salary ahs paid for those things. I will need to pay this money for another 10 years at least and that means I would have paid for 20 years and not a thing to show for it. I feel I have served a prison sentence. I could not face having my name in the local newspapers showing the amount of debt I had.owe. My hubby has a bank loan from our bank and it is a joint loan. Thanks

Q Would my hubby need to pay toward my bankruptcy if the debts are in my name???