thinking of bankruptcy

dancingfairy

I don't think you can get housing benefit if you are staying with family (someone will correct me if I'm wrong).
Whilst I can understand that your family may be devestated (they may have 'old' ideas regarding bankruptcy and may feel it is a disgrace to the family) and obviously they will be upset at loosing a large amount of money, at the end of the day you have to do what's right for you. Yes it is a really infortunate situation and you never asked to be in this mess but if there is a lifeline to stop you drowning you would take it surely? Hopefully by talking to your family they will come around and support you and whether you are able to repay them in some way is up to you - perhaps you can babysit for extended family - cousins or nieces/nephews etc? or help with jobs around the house - painting/decorating, shopping, cooking meals - anything to show that you are really grateful for all the help they have given you and that won't cost you any money.
I'd also check on a benfits checker - try turn2 us or Martins benefits checker what the situation would be if you did need to move out - hopefully you would be entitled to additional benefits and you never know a bit of space between you all may just help and get things back on track.
Best of luck
df

stuckinrot

just called iva and they said to cancel the iva i must write in.
so here goes.

stuckinrot

i have canceled my iva how long before i should apply for bankruptcy at the moment i don't have the fee money.
how long does one wait?

also some said debt collectors come around and can take anything they like, though nothing in the house i live with is mine apart from my tv and laptop

sniggings

each court is slightly different.

Mine was a case of handing the forms in on the Friday and I was then given an appointment for Monday for BR.

Some areas will do BR only once a week or some everyday.

Give your court that deals with BR a ring and they will send out the forms,and tell you when they do BR cases and what you need to do.(they may say you have an option to print them off the web but there are a lot of pages and you need 3 copies of each so to save paper and ink I got them posted out).

Also ask at the same time about claiming for the fees as you are on benefits.

Get saving as soon as you do then get it sorted you will feel better, also you need to do it as soon as you know you are going BR as waiting is adding interest etc so you are meant to go BR as soon as you can.

They cant take anything that is not your, you don't even need to let them in as they have no right to force their way in.

Chances are they will not even come around so don't worry about that.

stuckinrot

thank you. i assume by aug i will have all the the companies my debt was sold to calling me chasing me for money.

i somehow need to know how my benefits are included and expenses are worked out.

sniggings

stuckinrot wrote: »

thank you. i assume by aug i will have all the the companies my debt was sold to calling me chasing me for money.

i somehow need to know how my benefits are included and expenses are worked out.

if on benefits that is said to be as much as you need to live on.

In BR you are allowed reasonable living expenses which in many cases is more than benefits.

also as you get some benefits because you are disabled they are not allowed to include some of these benefits.

maybe fill in this form and post it in a new thread and people on here will help you fill it in, it is not the same form you fill in on the BR forms, that is a lot smaller, only about 5 spaces, but this form breaks it down a bit more in case your OR wants to go into every detail, but like I say you will be ok.
http://makesenseofcards.com/soacalc.html

copy in and paste it to a new thread.

dancingfairy

Right let's clear a few things up:
1) debt collectors have no powers. In fact some companies rarely send debt collectors (normally the threat of debt collectors is enough to scare people into paying up if they can afford to). A debt collector has the same rights athe paper boy or milkman (ie none) if you don't want them there then you tell them to get lost or you'll call the police.
2) Bailiffs are slightly different- these have different powers depending on whether it is a credit card debt for instance or for council tax. In order for people like credit card companies/bank companies to appoint a bailiffs they need to firstly have got a court order against you to prove you owe the debt and then secondly have asked the court for the bailiffs - you will receive letters if/when this happens and you should have time to sort the matter out.
3) regarding bankruptcy - when you go bankrupt you have to fill in a form to state what assets (if any) you have over a certain limit. The OR will trust you on this. They do not appoint a bailiff or anybody else to come around to your house unless they think you have gold/picasso paintings stashed under your bed! they would also need to have some reason to think you had assets so don't worry as the possibility of this happening is probably 0.000000000001% or something! I think most people are slightly daunted/scared by the prospect of going bankrupt and wouldn't dream of lying to the OR as they know that if they were to lie they would get into a lot of trouble.
Some courts/or's will want to see proof that the IVA has failed. I believe that it is if you miss 2 or 3 payments then the IVA was failed but hopefully your letter will speed things up and the IVA company will fail you a lot quicker (if that's what you want).
Don't worry you will get through this.
df
P.S it is highly unlikely the OR will want your laptop or tv as second tvs and laptops aren't worth that much in general. Unless of course you happen to have the worlds biggest, shiniest newest plasma screen, in which case the OR might have a different view! I'm sure if you post up what they are worth people can advise you if the OR will be interested if you are worried at all.

rossireps

when i went br i owned a laptop and a tv also my bike.
examiner had no interest in them and didnt come round either