help im bankrupt

lions67_2

hi there, can anyone advise me on how to get a 1000 pound for twelve months. thing is as in the title ive been made bankrupt. i dont want to be paying loads of interest but realise i will be seen as a liability. any aadvice welcome

Tixy

Are you still bankrupt or have you been discharged?
If you are still bankrupt you have no chance of a £1k loan from anywhere.

Even if discharged your chance is very slim and certainly not at a cheap or even average rate.
If you have been discharged how long ago and have you done a post bankruptcy credit file clean up to check all your accounts show as they should?

opinions4u

Ask your brankruptcy trustee.

They'll give you some honest advice.

Emmzi

what is it for? the kind if thing social services can help with?

poppasmurf_bewdley

If you are still bankrupt, it will be illegal for you to try to obtain a loan.

Legally speaking, if you are bankrupt and got the money, it would belong to the Official Receiver and not you.

mumtomany_2

poppasmurf_bewdley wrote: »

If you are still bankrupt, it will be illegal for you to try to obtain a loan.

Legally speaking, if you are bankrupt and got the money, it would belong to the Official Receiver and not you.

Is this strictly true?? I do beleive the rule is that it is an offence to try to obatain credit of £500 or more from one or more creditors without disclosing your status as an undischarged bankrupt.

If you are not yet discharged i do not think you should be trying to obtain credit anyway, as it would be rather foolish to get yourself back in debt straight away! Also how could you possibly have a dispossible income to make the payments with? As if you did have dispossible income you would be asked to make payments under an IPA. If you are on benefits then its unlikely your going to get that credit!

boogiemaster

What restrictions will apply once I go bankrupt?

From the date that you go bankrupt you will be subject to bankruptcy restrictions which mean you cannot:

• Get £500 or more of credit either alone or jointly with any other person without informing the lender of your bankruptcy
• Carry on business (directly or indirectly) in a different name from that in which you were made bankrupt, without telling all those with whom you do business the name in which you were made bankrupt
• Be concerned (directly or indirectly) in promoting, forming or managing a limited company, or acting as a company director, without the court's permission, whether formally appointed as a director or not

mumtomany_2

boogiemaster wrote: »

You cant not obtain more than £500 of credit when your bankrupt

What restrictions will apply once I go bankrupt?

From the date that you go bankrupt you will be subject to bankruptcy restrictions which mean you cannot:

• Get £500 or more of credit either alone or jointly with any other person without informing the lender of your bankruptcy
• Carry on business (directly or indirectly) in a different name from that in which you were made bankrupt, without telling all those with whom you do business the name in which you were made bankrupt
• Be concerned (directly or indirectly) in promoting, forming or managing a limited company, or acting as a company director, without the court's permission, whether formally appointed as a director or not

I am sorry but that surely that mean that you can obtain £500 or more as long as you inform the lender of the bankruptcy??? It also means you can obtain upto £500 without disclosing.

Or am i misreading this???

of course its all a bit insignificant cause a un-discharged bankrupt isn't going to get 1k anyway!!

maginot

lions67 wrote: »

hi there, can anyone advise me on how to get a 1000 pound for twelve months. thing is as in the title ive been made bankrupt. i dont want to be paying loads of interest but realise i will be seen as a liability. any aadvice welcome

The best advice is not to get a loan.
There is almost no chance of you getting credit and if you did you would be paying loads of interest and would just cause you more financial difficulties.

What is the money for as you may get advice on where to buy cheaper or alternatives or even government grants/benefits/loans that may provide this?

lions67_2

thanks everyone for your thoughts and advice. somethings i never knew. the thing is i have disclosed my bankruptcy and been offrered 1k over 12 months at 117 a month. the money is to get my car back up and running, so i can get my career back on track

Tixy

What company is offering you the money?
Do they ask for an upfront fee?
If its an online broker - have they asked for your bank details?

Are you still bankrupt or discharged?