Bankruptcy with no missed payemnts

saranomoredebt

Update: I went to the Co-op branch and they opened it for me yay :j the member of staff asked me why do I need this account, I felt embarrassed so I said because I don’t want bank charges, he said other bank account do not charge I can offer you better ones.

I then said I am thinking to go bankrupt, he said I am sure you can still have other current accounts, I said no you can’t be he insisted, and called someone, and they told him what I just told him.

PippaGirl_2

Well done. Amazing what staff in branch don't know! It takes about 2 weeks to get the stuff bank for your opened account but meanwhile you can concentrate on the next steps.

StepChange_James

Hello,

I've just noticed this threat and thought I might be able to help. If you've not yet spoken to the CAB it might be worth giving our online advice tool Debt Remedy a go (http://www.stepchange.org/msehelp).

It'll help you plan a realistic budget and present you with the options available. Depending on your situation it can recommend a DMP, an IVA or bankruptcy alongside all the other options that might be available.

It sounds like bankruptcy is the way you're looking to go, but it can be useful to get advice before going through with it just to be sure it's the best option.

If you've any questions about bankruptcy, feel free to post them up on our sticky thread in the bankruptcy forum.

Regards

James

saranomoredebt

Thank you very much for the link, what a great tool. I did the test and it suggested bankruptcy, and with no payments. They include payments to a loan from a family or friend, other SOA did not allow me this. Am I allowed to include this?? also there is a budget for meals at work.
I am too stressed about all this, and terrified missing payments especially the payday loan as I think they will be the worse.

PippaGirl_2

No, fraid not. The debt is included in the BR and you're not allowed to favour one creditor over another, family or not. Of course even though you legally have no obligation to pay them back, once you are discharged you can choose to do so and many people do.

saranomoredebt

Hi all,

Thank you all for your help, thanks pippa girl, I suspected that will be too good to be true. Anyway I have a question, I have looked at the forms, and from the advice I got here, I had the idea that the SOA has a bit of allowance on holiday fund or emergency, the SOA does not include anything like that, only the below questions, which I answered. for two people me and my husband, any thoughts?


Mortgage payments or rent on £550
your home

Housekeeping (including food
and cleaning) £330


Gas, electricity, other heating £150


Water £37


Telephone charges £35


Travelling to and from work
and other essential journeys £145.60


Clothing £80


Maintenance payments and
fines

Council tax £137



Other essential payments Provide details of
(e.g. life/household insurance, these payments
car tax & repairs)
toral

Anondebtadvisor

You can include:
Meals at work
Car tax
Car servicing/MOT
emergencies
dentist/opticians
perscriptions
Telephone
Hairderessing
Sports and hobbies
holidays
Insurance

saranomoredebt

Anondebtadvisor wrote: »

You can include:
Meals at work
Car tax
Car servicing/MOT
emergencies
dentist/opticians
perscriptions
Telephone
Hairderessing
Sports and hobbies
holidays
Insurance

Thank you but where do I add it? it is not in the bankruptcy SOA form?

Anondebtadvisor

There is not a lot of space on those forms, sometimes i think this is deliberate to keep your expenses to a minimum!

I would add as much as you can and then break it down further on the pages at the back where you can explain further.

sniggings

saranomoredebt wrote: »

Thank you but where do I add it? it is not in the bankruptcy SOA form?

you just do the best you can, if an IPA is likely the OR asks for a more detailed break down, just put them in food or what ever one best fits.