Can someone who is unemployed go bankrupt

Ox1987

But how would that work with a family budget I imagine intially I would have £600 income (JSA/CB), could live rent free intially at parents and then get tax credits etc etc etc. That would go on food intially as that would be all I would have to pay and clothes for kids. I don't get it at all seems like a doomsday scenario.
trying to get DMP set up but my concern is trying to maintain this salary level job for the forseeing future

Rylynn

Okay Ox, what do you know about bankruptcy other than it means you cannot do the job you do now? Is there another job you could do, or more to the point would like to do?

I had no home to lose, so someone else here is going to have to explain that side of things to you from their own point of view of going through BR.

You are going to have to find the fees if you decide that is what you both want to do. How does your wife feel about this?

Can you please try to reply to my questions so I can then reply to you again.

Have you thought about renting a home? downsizing, moving to a cheaper area? You still have work for one year is that correct?

You said about moving in with your parents, do they live locally? and would your moving in with them make their home overcrowded? as these are things councils take into consideration or they used to, hopefully they still do.

If you go BR you are never chased around for your debts again that is the whole point I was trying to make to you. If you have money coming in that is over a reasonable living standard you pay into an IPA, if during the 3 years you lose the money coming in you simply let them know and it gets re adjusted, same as if you begin to earn more they will take more.

They will not live you on the bread line with kids going hungry and with no clothes which is what I think you think happens, ask people here it is not like that. No you cannot have Nike air trainers, no you cannot go blowing £1K on a nice dress or a nice ring, but you have a standard of living that feeds you, clothes you, pays the bills, rent. If you take a look on this board look for a thread that says SOA, and go and then look at what they have put, it will show you what people can put down for their needs.

RL

Rylynn

Ox1987 wrote: »

But how would that work with a family budget I imagine intially I would have £600 income (JSA/CB), could live rent free intially at parents and then get tax credits etc etc etc. That would go on food intially as that would be all I would have to pay and clothes for kids. I don't get it at all seems like a doomsday scenario.
trying to get DMP set up but my concern is trying to maintain this salary level job for the forseeing future

You have not put child tax credits on here, do you not get them or cannot you not claim them if you are on JSA I have no idea as I am not on JSA, until last month I was working.

Is all you would get a month £600 for all four of you? sorry I am not up with benefits.

Someone help me out here, as I really do not know what benefits Ox can get for in fact 5 of them, 3 kids and two adults. And can he get CTC on JSA again I have no idea.

Thanks.

tigerfeet2006

Sorry I'm out of the loop on benefits now as I don't live there anymore so I can't help. There is a good calculator though, let me just get a link.

Ox1987

Rylynn wrote: »

Okay Ox, what do you know about bankruptcy other than it means you cannot do the job you do now? Is there another job you could do, or more to the point would like to do? I would do anything I am degree educated, thought of retraining as a teacher but equally would stack shelves if kids were OK

I had no home to lose, so someone else here is going to have to explain that side of things to you from their own point of view of going through BR.

You are going to have to find the fees if you decide that is what you both want to do. How does your wife feel about this? She thinks we should try DMP and if not go BR (or F&F IVA if i can guarntee work will allow it)

Someone said something that has hit home I am stuck in the rat race making sure I get a salary to survive at my current standard of living (well a tighter version) maybe it is time to get off the wheel and restock

Can you please try to reply to my questions so I can then reply to you again.

Have you thought about renting a home? downsizing, moving to a cheaper area? You still have work for one year is that correct?
Cant sell house price means negative equity

You said about moving in with your parents, do they live locally? and would your moving in with them make their home overcrowded? as these are things councils take into consideration or they used to, hopefully they still do. They do live local and would take us all in, would be crowded but they would cope until we found a house

If you go BR you are never chased around for your debts again that is the whole point I was trying to make to you. If you have money coming in that is over a reasonable living standard you pay into an IPA, if during the 3 years you lose the money coming in you simply let them know and it gets re adjusted, same as if you begin to earn more they will take more.
I understand it is just that it was if we were not allowed to go BR

They will not live you on the bread line with kids going hungry and with no clothes which is what I think you think happens, ask people here it is not like that. No you cannot have Nike air trainers, no you cannot go blowing £1K on a nice dress or a nice ring, but you have a standard of living that feeds you, clothes you, pays the bills, rent. If you take a look on this board look for a thread that says SOA, and go and then look at what they have put, it will show you what people can put down for their needs. My point was where would my income come from I would have no job intially or am i missing something

tigerfeet2006

https://www.turn2us.org.uk

Put in various scenarios and see what happens.

In your circumstances, if you know for definite that you will lose your job on going BR I would stop paying the mortgage and debts, save the money towards rent, deposit ( if you save as much as possible and you are have difficulties getting a rental then you could offer them six months in advance), moving costs and BR fees. Find a rental house, move and settle and then go BR. If you then lose your job you should be at least entitled to housing and council tax benefit, which you wouldn't be in your own house.

But this needs to be your own desicion, nobody can make it for you.

Rylynn

Okay, tell me how you arrive at the figure of £600 coming in if you have no job and there are 5 of you?

Good I am pleased to hear you would re train as a teacher, you are not unemployable Ox, there must be loads of things you can do, you just have to apply your thinking to being more positive about it.

Okay spanner number one then is, your wife is reluctant to go BR, now if that is the case you have to consider why she feels that way. Why she thinks DMP would be a better option, and I am not saying one way or the other whether she is right or wrong.

Okay on the renting, many people hand back the keys to mortgage lender, they save up a deposit and find a rented house, but if you have No employment I see this is an issue.

By moving in with your parents you could then approach the council, and if the house is over crowded this helps you be housed quicker, unless that has changed as well!!! damn government keep changing the rules.

I take it all credit cards have been cut up, and there is no more buying from catalogues? Have you put up and SOA here? sorry I cannot remember.

RL

Ox1987

But I would already have defaults from DMP so screwed really would not get a rental, our hope would eventually be a council house. It is my job that is causing all these problems as I cannot work if BR and not sure about IVA

Ox1987

600 (JSA 111 a couple a week. 188.40 CB a month)

My current SOA is on Scared...

I dont think the wife is against BR she thinks we could rise again but the issue is that she thinks its the only option versus BR and to try one last time to protect house

All cards were cut up ages ago and no more catalogues

tigerfeet2006

It is not impossible to get a rental. Hundreds of people on here have done it on here with a little work. Have a look at the link to turn2us I posted a couple of posts back b