Bankruptcy

Keeping_Positive

The or will have no interest in the car. Our family car is in my husband's name. There isa section kn the form for this.

Also the pension details need to put down but not as and asset. I just estimated for my new job using wages slips.

As per the other posters the worst bit is deciding to do it the rest isn't too bad

Angela230787

Thank yu Keeping Positive and Wharty your posts have helped me a lot, I will look through the forms again before filling anything out, and look where to put the car down and the pension.

I am hoping this will be a new start and I have learnt from my mistakes and will not have a credit card again, to easy to get into trouble with them things. I will live off the money I get and if I want something I will save for it rather then use a card and then pay for it.

Losing

Hello All,

I've been reading through this thread and it has really helped!!

My husband and I have been battling debt for years now and have finally decided its time to put our hands up and admit defeat. After a lot of advise and research our only option is BR!

The issue, we are still waiting for our IVA company to terminate our contract with them! They are being an absolute nightmare (to be expected as they won't be getting anything more from us)! I read that the court can still make us bankrupt whilst in the IVA and write to the company themselves to get the certificate, is this true? Can we still submit our petition whilst tied up in an IVA??

Thank you in advance!!

tigerfeet2006

Hi, Losing and welcome to the board.

Just to say it is usually better to start your own thread with questions as they can get lost in the middle of someone elses thread.

The best thing to do re: the IVA certificate is get in touch with the court you would plan to go BR at and ask them if they require the certificate. Some will be ok with out it, some will want it.

Angela230787

Hi thank you everyone for your replies. I have another question now, my parents where going to pay my bankruptchy fee for me, but now there Boiler has broke and they are looking at a lot of money to repair it.

Could I use money from my overdraft to pay a bankrupthy fee? I havent used my overdrafts at all for about 2 years, but I am having trouble getting £525 any other way, I am hoping it will be £525 thats what CAB said because I am not working they should waver the court fee.
Does anyone know if I use money from my overdraft then that goes into my bankruptchy if there will be problems?

Thank you

alastairq

I'm not sure if it is still the case, but, in the past, BRs who have used a bank overdraught to pay for BR fees [then subsequently including that in the BR]....have maybe raised an OR's eyebrows, but...since the money is paying their fees, such action has indeed been ignored.

After all, one could argue the O/draught has been used to meet essential household expense [with one's 'cash' being used for the fees instead?]

Bella_Smythe

if youve got the time, you could draw money out on your overdraft in say £100s then it wouldnt be so obvious what it was for it could be just normal living expenses or whatever?

Angela230787

Thank you for the replies, all is ok now as my parents went to get a bigger loan to consolidate there debts into one payment, and they got a bit extra for my bankruptcy fee then I pay them back when I can.

I am looking at filling for bankruptcy soon as in the next week or two, I did use my credit card though back at the beginning if June just after losing my job, to pay a catalogue payment of £1100 this was for a washing machine and dishwasher, will this go against me? I wanted to get them paid off this was before I knew I was going bankrupt, but after I lost my job. I also paid my phone contract up to its end date and this was £700 again done at the same time as the catalogue on the same card.

Will I be better off waiting? I have depression at the moment quite bad and just want to get the bankruptcy out of the way I don't want people ringing me and sending letters demanding the money at the moment.

Thank you for any help

tigerfeet2006

You will be asked about it and what your thinking was behind paying them off. But depending on how much your total debt is and the ratio this forms of it then you will probably just get a slapped wrist, so to speak.

Angela230787

Well says that £1800 by total debt is £21500 ish.

I will of course say why I paid them it was so I had less people chasing me for money and these ones I thought easy to get rid of, and then I was going to CAB and see what happened I wasn't thinking of bankruptcy till then.

I thought about the smaller payments a month to each creditor, but got told bankruptcy is the best option in this case.