bankruptcy

elsie2

hello all, I am new to the forum and was hoping to get some help
.
I am in the process of applying for bankruptcy, (after trying to keep above water for so long, ) have bit the bullet
I was hoping someone would be able to give me an idea of the whole process, and what the O R does. I am working full time and live in a rented house, I own my car which is worth about £4000, my debts are £19,000. how much of my wages will the O R take per month and for how long?

Thanks in advance for any help

dojoman

Hi and welcome to the forum, have a look at the link below, most of the answers you will need are in there:)



https://forums.moneysavingexpert.com/discussion/1056083

IF

Hi elsie2 and Welcome to the Bankruptcy (BR) Board. First step is to make a list of all your creditors, debts and assets. Secondly and most important is contact one of the following debt charities. Please try these they don't charge and are impartial. They will go through all your options with you and if they suggest bankruptcy then come back to this board and we will help you all we can. Also if your not ‘clicking’ with one of the Debt charities do try another. We advise you to try at least two others for your own piece of mind.
Your BR could be refused if you have not sought advice. (Advice on here does not count, this has to be from one of the Debt Charities, an IP, an Accountant or a Solicitor. The Judge just wants to be sure that you can never come back and try and overturn the order on the basis that you were not aware of all the consequences).

* Blue text on this forum usually signifies hyperlinks, click on the blue links below *

Main recommended sources of help:

• National Debtline - Website: National Debtline Telephone: 0808 808 4000
• Citizens Advice Bureau - Website: Citizens Advice or visit your local CAB centre (find nearest)
• StepChange (formerly CCCS) - Website: StepChange Telephone: 0800 138 1111

Others:

• Business Debtline
  - Website: Business Debtline Telephone: 0800 197 6026
• Christians Against Poverty
• PayPlan
• TaxAid - Help with tax debts.

Please don’t do anything rash take your time and weigh up your options and read everything you can.

For ‘essential’ BR info the ‘Look here first’ sticky by Fermi.

BR friendly home insurance thread.

BR Friendly Bank Accounts ~ [Updated Sep 2012 re: Co-op Cashminder withdrawal]

BR Abbreviations

Beth's Guide Reasons for your BR

Charities who help with BR Fees

Bankruptcy NDL Guide

Basic Bankruptcy Advice & Guide NED CAB


And do remember we’ve all been through this and anything you don’t understand don’t be afraid to ask.


Best wishes
IF...x

National_Debtline

Hello there,

Here's a link to our Bankruptcy fact sheet, hope you find it useful.

Best wishes,

David.

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=01_bankruptcy

IF

National_Debtline_representative wrote: »

Hello there,

Here's a link to our Bankruptcy fact sheet, hope you find it useful.

Best wishes,

David.

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=01_bankruptcy

I've posted your link in post 3??

National_Debtline

ifwisheswerehorses... wrote: »

I've posted your link in post 3??

Oops! I missed that. Profuse apologies!

David.

IF

National_Debtline_representative wrote: »

Oops! I missed that. Profuse apologies!

David.

No, I'm sorry David, just read my post back and it was unnecessarily sharp! :o

arcon5

An IPA can last up to 3 years.

Whether one is applied or not depends on your circumstances and income. Do you have an SOA available? Or at the very least tell us your income, other household income, number of dependents, other people in the household, your rent and other outgoings.

If your car on HP or anything or do you own it outright?