Ask a StepChange (formerly CCCS) counsellor a bankruptcy question

StepChange_James

angelic_enigma wrote: »

hi
i hope you can help i went bankrupt in september 2013 and i have tons of paperwork regarding the debts that i have included into my bankruptcy including dca letters, bank statements and mortgage statements etc, what paperwork do i have to keep as i currently have round about 3000 pieces of paperwork.
kind regards

michelle

Hi Michelle,

Wow that's a lot of letters! While I can't imagine the Official Receiver would want to wade through the lot of it, there's always the chance there might be something in there that they need to see.

You could give them a call to see what stage your case is at, it may be that they've got all the information they need already. It's better not to risk throwing away something that you'll later need.

If you wanted to play it safe you could put it all in a box and then get rid of it all once you're discharged, that way you'll know it's all done and dusted.

If storing it is an issue then I'd recommend a quick call to your OR's office.

All the best.

James

StepChange_James

Piggywinkle wrote: »

My husband and I recently moved into a smaller rented property as the one we recently left was costing us too much. I am only a 'named tenant' in the property, with my husband being the 'lead tenant.'

I have no income of my own, other than Child Benefit and Child Tax Credit, which are joint claims between my husband and I. The rent and all other priority outgoings get paid on time from my husband's bank account. I have been on token payments to my creditors for 18 months now and some of them are starting to turn nasty.

When I finally raise the fees to go bankrupt, will the OR notify my landlord? I'm a little worried as we have only been here for about 2 months into a 6 month contract. I'm worried we'll be evicted. Is it always the case that the OR will notify a private landlord when a tenant (a named tenant at that) declares BR?

Hello,

Thanks for posting.

If you have rent arrears then the OR will definitely be in touch with your landlord. As you've only been there two months I suspect you're probably up to date or at least would be at the point you went bankrupt.

If you can provide the OR with evidence that your rent payments are up to date then the chances of them getting in touch are lower - though it's not possible to rule out them contacting your landlord.

Something like a rent book or bank statements showing payments would usually be enough to prove this.

I'd suggest having a look at your tenancy agreement to see if there's anything specific about bankruptcy in there. That might give you a bit more information.

Even if your landlord were to find out about your bankruptcy it wouldn't usually mean they'd want to get rid of you. If you're paying on time and not causing any bother then most are happy to carry on.

Kind regards

James

edthebus

I was made bankrupt and just received a letter from the Insolvency Service regarding income I only work part time usually 24 hours a week we have 4 children between ourselves living with us and receive working and family tax credits will they want any payments from myself many thanks

woodforthetrees

Speculative IPA?

Hi, I was declared bankrupt March this year. I filled in the questionnaire etc at the ORs office in relation to my outgoings.
We filled in household outgoings and I said that I contributed up to 50% of them when my earnings allowed. My husband chose not to declare his income.
I wasn't at the time earning 50% of the bills (I am self employed) as I was unwell, but most months now I earn much closer to 50%, although still under and my husband is still subsidising my half of the bills.
I wasn't given an IPA, but just wondered, as we're past the six months mark now, whether I will get one that will be based on any earnings that I might make over and above that 50%, or whether I will only be given an IPA if my earnings do rise above that figure.
I know that the IPA has to be given in the first year - but I'm unsure whether they will set one, speculatively, in case my earnings rise. Or whether one will only be set in place if my earnings rise within that first year.
Any help/advice would be welcome.

antony7820

Hi

I declared myself bankrupt in August 2009 and was discharged a year later. Recently I have been trying hard to improve my credit file. I have managed to get all my debts marked as satisfied although a couple of the dates are wrong, I'm still working on that.

What I really need some help with is CCJ's, I have 5 all dated before the bankruptcy but none of which say satisfied. I have called the courts that issued them and they were not much help to be honest, they told me to contact the OR, which I did who told me to contact the court and so on.

Has anyone managed to get CCJ's marked as satisfied after bankruptcy or is it a case of waiting for them to drop off once the 6 years is up. If you have managed to do it could you please let me know what I need to do.

I assume that this is the right thing to be doing it may be that this will make no difference weather they say satisfied or not, if you think i am wasting my time please let me know.


Thanks in advance


Antony.:eek:

ianbalby

StepChange are really good

SCAMHUNTER_2

Yeah i know of this company... hearing good things

Former_StepChange_Rachel

edthebus wrote: »

I was made bankrupt and just received a letter from the Insolvency Service regarding income I only work part time usually 24 hours a week we have 4 children between ourselves living with us and receive working and family tax credits will they want any payments from myself many thanks

Hi there

When you go bankrupt, it's normal procedure for the insolvency Service to contact you and ask you some questions regarding your income and cost of living. It might be a good idea to clarify the letter with the Official Receiver who handled your bankruptcy. Please rest assured that your living costs and those of your children will be treated a a priority throughout your bankruptcy.

Best regards

Rachel

StepChange_James

woodforthetrees wrote: »

Speculative IPA?

Hi, I was declared bankrupt March this year. I filled in the questionnaire etc at the ORs office in relation to my outgoings.
We filled in household outgoings and I said that I contributed up to 50% of them when my earnings allowed. My husband chose not to declare his income.
I wasn't at the time earning 50% of the bills (I am self employed) as I was unwell, but most months now I earn much closer to 50%, although still under and my husband is still subsidising my half of the bills.
I wasn't given an IPA, but just wondered, as we're past the six months mark now, whether I will get one that will be based on any earnings that I might make over and above that 50%, or whether I will only be given an IPA if my earnings do rise above that figure.
I know that the IPA has to be given in the first year - but I'm unsure whether they will set one, speculatively, in case my earnings rise. Or whether one will only be set in place if my earnings rise within that first year.
Any help/advice would be welcome.

Hello,

At the moment it sounds like your income from your business is consistent with the figures the Official Receiver (OR) used to decide that you shouldn't go on an Income Payment Arrangement(IPA). So it sounds like there's no issue as things stand.

If your income was to be consistently higher than the amount you agreed with the OR then it would be worth calling your OR to explain that your income is now higher. This might not automatically lead to an IPA as your outgoings may well have gone up too and it might still be the case that you've not got any spare income to pay towards debts.

My understanding of these things are that they'll base the IPA on your income rather than what your income might be. Obviously these things are easier to work out for people with a fixed income but the OR should be able to guide you on this.

If you've any concerns it is probably best to call your OR's office to clarify things with then, then you can be happy that you've given them all the information they need to make a decision on this sort of thing.

Kind regards

James

Former_StepChange_Rachel

antony7820 wrote: »

Hi

I declared myself bankrupt in August 2009 and was discharged a year later. Recently I have been trying hard to improve my credit file. I have managed to get all my debts marked as satisfied although a couple of the dates are wrong, I'm still working on that.

What I really need some help with is CCJ's, I have 5 all dated before the bankruptcy but none of which say satisfied. I have called the courts that issued them and they were not much help to be honest, they told me to contact the OR, which I did who told me to contact the court and so on.

Has anyone managed to get CCJ's marked as satisfied after bankruptcy or is it a case of waiting for them to drop off once the 6 years is up. If you have managed to do it could you please let me know what I need to do.

I assume that this is the right thing to be doing it may be that this will make no difference weather they say satisfied or not, if you think i am wasting my time please let me know.


Thanks in advance


Antony.:eek:

The CCJs will drop off your credit file 6 years from the date that they were logged on there. Once your bankruptcy comes off your credit file (again, this will occur 6 years after it was logged) that should improve your credit rating too.

Best regards

Rachel