Ask a StepChange (formerly CCCS) counsellor a bankruptcy question

Money_1977

Hi Mat,

Thanks for your reply.

The debt and costs associated with this have been repaid in full. If this is the case, can you bankruptcy be annulled?

Thanks

baggyann

Hi, I had an action plan put together for me and I am advised to make token payments. The agent said I'd be able to use the template on site to send to my creditors but I can't find one?

StepChange_Private_Messages

baggyann wrote: »

Hi, I had an action plan put together for me and I am advised to make token payments. The agent said I'd be able to use the template on site to send to my creditors but I can't find one?

Hi there,

If your plan is with StepChange Debt Charity please let us know and I can forward you the template letter we send to our clients to pass on to creditors.

Best regards

Rachel

StepChange_Private_Messages

Money_1977 wrote: »

Hi Mat,

Thanks for your reply.

The debt and costs associated with this have been repaid in full. If this is the case, can you bankruptcy be annulled?

Thanks

Hi there

I've looked into this for you with our bankruptcy team and they don't feel that you would be able to annul the bankruptcy in this case.

Best regards

Rachel

szracer

Thanks for the reply - Am just about to cross post in that forum.

James

szracer wrote: »

Hi there,

Not sure if I'm asking this in the right topic, and I feel guilty asking it as I know there are many on here with bigger problems than mine, but...

I was a director of a company with my wife, which unfortunately (After 10 successful years) went into pre-pack administration last year. My wife formed a new company, and I started up on my own, as self-employed. I was not personally made bankrupt or insolvent.

I am lucky enough to own the freehold of the retail premises which my wife's (old and new) company rents. This is personally owned, not through a company.

However, I just phoned NFU to renew my car insurance, and they told me that because I had been a director of a company which had gone into administration, the woman at my local office gave a 'tip' that would probably be unwilling to renew either my landlord insurance, or my car insurance this year.

I've since managed to get new car insurance from someone else, but every time I try to get a quote for landlord's insurance (from other brokers), I'm told that they won't insure me because my company wnet into administration.

I'm not personally bankrupt, and my insurance is through me personally, not a company. What can I do?

Shami_2

I am declaring bankruptcy in near future. What will happened to my matrimonial house which is solely in my husband,s name. We are separated now.
Please advice

madbadrob

If the house is solely in your husbands name then nothing can happen to it because it is not yours, unless of course you have recently signed over your share to him because then the receiver could say you did that to avoid paying the debts

baggyann

Hi Rachel, yes the plan is with Step Change. Is it my email address you'd need for the template?

StepChange_Private_Messages

baggyann wrote: »

Hi Rachel, yes the plan is with Step Change. Is it my email address you'd need for the template?

Hi there

I've just sent you the template via a PM. Please let us know if you need any more help.

Best regards

Rachel

System

Shami wrote: »

I am declaring bankruptcy in near future. What will happened to my matrimonial house which is solely in my husband,s name. We are separated now.
Please advice

Hi there,

Welcome to the forum.

If the property is in your ex-partner’s name it is not your asset so the house should not be affected – however, as madbadrob says in the post below, it is an offence to sign over assets to someone else in the knowledge you are intending to go bankrupt. I’m not suggesting this is what you did, it may be that you were never named on the mortgage but you’re best to provide as detailed a picture of your situation in your bankruptcy application as you can and communicate with official receiver if needed.

What’s more important for you here however is that you could have beneficial interest in the property. If you contributed to the home while you lived there, despite not being named on the mortgage, you may have certain obligations when it comes to the property that could affect your application for bankruptcy.

I would advise you gave us a ring to get some specialist advice. Contact us with your income and expenditure and after initial advice you’ll get bankruptcy help. If you do go bankrupt the courts will ask if you received debt advice – it will benefit you to speak to someone now.

I hope this helps.

Thanks,
Jess