Considering Bankruptcy

Jennie_2

Hi Alan,

Been following this thread with interest. I really feel for you and I think the people that have posted here have been so kind and supportive.

What sort of comics have you got? Could you sell them onto an existing shop or maybe on ebay?

I too was wondering if you could do some extra tuition - Parents who want to get their children into certain schools, especially fee paying schools will gladly shell out the money for tuition.

I don't know where you are in the country - you can see where I am. If you are not far away I would be very keen to offer my support to Dawn. The nature of the work I do is beneficial for pregnancy and lifestyle. PM me if I can be of help.

Keep your chin up, your doing great matey! Remember... baby steps...however small they all make a difference! :kisses3:

loopy_lou_6

oh dear, im filling up again after a quick peek at this thread, people are just so great, i am truly truly humbled and this is not even my situation. gonna go and blow my nose. Alan you are truly not alone with all these people giving you such good advice

Richard_S

loopy_lou wrote: »

oh dear, im filling up again after a quick peek at this thread, people are just so great, i am truly truly humbled and this is not even my situation. gonna go and blow my nose. Alan you are truly not alone with all these people giving you such good advice

Steady on loopy,

You starting to make me feel all melancholy now

Rich

AlanD_3

Thank you to all of you for your kind replies and support.

I will contact Payplan or one of the others suggested next week.

Thank you all again, you are very wonderful.

We're looking at saving up from selling things (comics, our bodies etc), budgetting and so on to go Bankcrupt at half term. That gives us about 6 weeks to get ourselves together, to collect the money and seek advice. Although that is depending on how well we get ourselves together in that time.

We've a lot to consider and I'll post properly again soon.

THANK YOU AGAIN.

AlanD_3

This is the plan thusfar:

Week one

List all shopping. Note all outgoings. Go back through clothes shopping etc for last year and try to work out cost and frequency for that. Try to come up with a realistic figure.

Search out any other creditors and try to bring about a full list.

Read all the literature on MyVesta about Bankcrupcy and on other sites.

[STRIKE]Open a MyVesta Mastercard account.[/STRIKE] Done x2

Work through spending etc.

Search out what to sell for cash.

Contact Payplan or similar.

Week two

STOP SPENDING START SAVING.

Week three

??? Well its a start isn't it ???

I think we'll keep a list of what we've saved on here which should reduce our chance of spending it.

gettingitsorted

great plan of action Alan giving yourselves goals is a great way of keeping yourself motivated

goldy

Hi Alan,

Good to hear you sounding a little more positive.

Another thing to look into if you go bankrupt is opening a basic bank account.

I opened mine before the bankrupcy and was allowed to keep it running. Mine is a flexi account with Nationwide.I know some other people have waited until after they have been made bankrupt to open a basic bank account just to be on the safe side.

Other banks that deal with undischarged bankrupts are barclays which doesn't have online banking and the coop that does have online banking and a electron card which is accepted by some shops and occasionally on line too.


If you are decided on going bankrupt don't pay any money to your creditors now, just save up the money to help you with the fees and to keep you going over the immediate bankrupcy period.

AlanD_3

I thought it was best not to open the basic account until after bankcrupcy was declared in case it got frozen too?

I'll have to investigate if our account would be ok... it only has electron. We can't use the cheque book as no one takes anything without a card to go with it. We have no overdraft so it'll need investigating.

*************

As far as I can tell... please correct me where I am wrong... it will go like this...

Before starting speak to PayPlan or similar...

a) Save up for the filling fee.
b) Save up for cash to survive through the first month.
c) Cancel all the direct debits - maybe move some to my parents' account ie Sky and Broadband and make arrangments to pay them for it.
d) Make sure all the utilities etc are paid up for at least that month. Tell them what is to happen.
e) File for Bankcrupcy and appear in court.
f) Stop using present bank accounts.
g) Open a new account (if that is required, see above).
h) Put all the necessary direct debits onto new account.
i) Arrange for pay and all benefits to go into new account.
j) Have interview with OR find out how much of our money has to go to OR (probably direct debit) and if anything of ours has to be sold.
k) Inform OR of change in wages to come in September (downwards 75% timetable). Inform of baby on the way. If baby is female it will need all new clothes.
l) Live with reduced income (or not...) for one year (or less).
m) For 3 years avoid winning the lottery or taking a promotion. Inform OR if either happens.
n) Start rebuilding life, credit and so on.

*************

What about claiming bank charges back? If our account is frozen and if they don't unfreeze it after the year of bankcrupcy will we still be able to claim back bank charges from them?

Thanks again everyone.

NekoZombie

I'm realising how lucky I was when I petitioned bankruptcy. I just stopped paying my bills for a month - they were so high I had enough for the fees without having to try and save. As for living expenses - I guess that's the joy of having a regular wage with monthly pay.

Do you need to inform the OR of a change of wages *before* it actually happens? Won't that confuse things? Just wondering...

AlanD_3

NekoZombie wrote: »

I'm realising how lucky I was when I petitioned bankruptcy. I just stopped paying my bills for a month - they were so high I had enough for the fees without having to try and save. As for living expenses - I guess that's the joy of having a regular wage with monthly pay.

Do you need to inform the OR of a change of wages *before* it actually happens? Won't that confuse things? Just wondering...

We may do something similar when it comes down to it.

I don't know. I just thought it might make them more sympathetic if they know the wages will drop in September rather than rise... plus the new baby angle too.

Will doctors' notes for both of us help? What about shrink notes?

Thank you again to everyone.