going bankrupt. scared

crowmans4

il try keep this short as posted all info on here before and got advice.
due to voluntary repocession of my home as i cant sell and its subject to my broken marriage and weve all moved on and house is empty etc etc etc and a lot of debt left in my name thant i dont know about i.e by my ex partner etc etc........

i find i am now going to have to declare myself bankrupt. im in northern ireland but i assume most of the law is the same.
http://www.detini.gov.uk/deti-insolvency-index/insolvency-bankruptcy.htm got most of my info here.


so i am scared that ive to close my bank account. i have worked hard last few months to save and try rebuild my life and start again. im moving into a new home with new partner alls in her name as i cant get credit. the savings ive build up to move is for appliances tv washing machines etc etc as been in furnished rented housing past few years........ i am scared it says they will freeze account and any money in it.......yes maybe i should empty it and put in partners. but what about my wage that goes in to pay direct debits. does this mean i stop working any extra shifts to earn extra to pay for new home and for my kids for new school outfits etc etc. they dont live with me but i pay maintanence and look after them once a week and feed and supply clothes entertainment etc....
i have no assets as such. i drive a 10 year old car my partner bought tho taxed and insured in my name she got out the loan. i need it to drivre the 70 mile trip to my work. the new house is in her name. the only assest i have is my home that i am handing back. its in my name and my ex wifes. i havent been able to pay is for last 6 mths. it was beingf rented but now cant rent or sell. ive an offer on it but its 20k less than what i owe. santander wont sell for a loss unless i pay fees etc for them to value. so i do all running and trying to sell even at a loss and they still chase me for shortfall so may as well hand it back as they can then sell and still chase me for shortfall hence the br.
advice on here says open a basic account i.e cashminder. however link above ive posted says even if you do it will still be frozen. i just want it to pay my wage into and pay my direct debits out of. i cant get credit due to debt in my name not being paid i was unaware off. again the br will clear this.
my fear is the above link says for 12mths i can have a wage but any extra money other than what they say you need for reasonable living expenses can be seized. this scares me also ?
my basic wage minus car,car insurance,petrol,child maintenance,rates,my half of new home i.e mortgage electric insurance food, i am lucky to be left with £200 for the month. i dont include nights out or entertainment on this for me partner or kids. or clothes etc. thats why i work extra shifts to try build this up a bit. is there any point however now if they would take it or seize it.
sorry i know this isnt short.
final scary bit above link says also i have to apply to court to travel abroad. now given last sentence no money for hols but i am trying to rebuild a life a lost. 20 year broken marriage and as a result kids i didnt see for a long time as they were kept away from me and my family. so trying to rebuild my broken life with them. they were used to hurt me and did. unfortunateky hurt them too but others didnt think of that. so yes be nice to get away maybe next year on a hol with them to try live normal again once i get away from my debt thats pulling me under.
thanks for reading and any help advice greatly appreciated...

mattannar

Quick question, why are you paying for the car if it is in your partner's name?

crowmans4

due to ex partner taking out credit in my name and taking out an iva and unable to get credit. she since stopped paying iva and being chased for it too as joint names although not mine. thought nothing of it at time as married didnt expect all this.
so quick answer i cant get credit. needed 2k loan to buy a car. my now partner got it in her name for me and i pay her it each month

fermi

Bank account: yes, it says it will be frozen, but the advice for England & Wales says the same, and as long as the account is a basic one with Barclays or Co-op then it virtually unheard of for it to happen.

They do not seize wages. You may be asked to make an agreement to pay surplus income, but it should be just that. Surplus. In extreme cases where the bankrupt clearly has surplus, but refuses an agreement, they can go to court for an order to make you pay, but that again is very very rare. The essential thing is that the OR or the court should be asking you to pay only a genuine surplus, and must leave you with enough for your reasonable domestic needs.

crowmans4

fermi wrote: »

Bank account: yes, it says it will be frozen, but the advice for England & Wales says the same, and as long as the account is a basic one with Barclays or Co-op then it virtually unheard of for it to happen.

They do not seize wages. You may be asked to make an agreement to pay surplus income, but it should be just that. Surplus. In extreme cases where the bankrupt clearly has surplus, but refuses an agreement, they can go to court for an order to make you pay, but that again is very very rare. The essential thing is that the OR or the court should be asking you to pay only a genuine surplus, and must leave you with enough for your reasonable domestic needs.

thats the thing. whats classed as resonable domestic needs. as said minus bill on a flat month ive about 200 to do me for the month. if i work extra shifts depending on whats i can get i can have 500 or 600 xtra to myself for the month ...so hardly extreme surplus i wouldnt have thought.
my debt all in is approx 170k. my house has an offer of 130k on it that they wont accept as said without me payin fees etc. so if it went to auction and is my only assett. say it went for 120k ive 50k owed therefore so if ive surplus of 500 a month would they take from that to clear the 50k shortfall. 500 a month would be average with shift work. at most 600 700 but thats a month remember so not a lot each week

crowmans4

and as you say about account. my plan is next week while off to set up a basic account with barclays as ive a local branch. then contact my wages and start getting them paid in. and contact my 4 or 5 direct debits and get them to come out..... i can do this now before filing for br and it should be ok.........i can basically get out of this mess by paying the £640 fee. and of course for 3 mths to 12mths my account is monitiored i believe so during this time i would probably be advised to do no extra shifts???

luvchocolate

No point in doing extra shifts in my opinion and to be honest you have a massive surplus compared to most, bear in mind anything over £20 can be taken as surplus.
good luck x

crowmans4

only doing xtra shifts now to get furniture etc for my new home and to get kids school uniforms and pay school fees etc. once i am into my new home and kids are got thats it. massive surplus £50 a week really......... for working 60 hours a week........i dont think so.........people better off outa work than i am

luvchocolate

Hi £50 per week is a large surplus and yes I agree people not working with children do seen better of......my surplus is £9 per month!! so no I.P.A, I work long hours also and 61yrs old....oh well we will all get there in the end!! wherever it is......No offence meant by the way.
take care x

crowmans4

not a problem. no offence taken...just a bit confused by whats regarded as surplus and whats deemed as reasonable domestic needs....just saw a financial debt advisor and none the wiser......
and according to above post from fermi its unlikely . is that correct.
just hate to be working my guts off to go BR and any extra earning go towards clearing my debt. i thought you paid the £640 go BR and your debts and wrroies are cleared. not being selfish but the house in particular was joint names but all left for me to sort. why should i go BR and still pay towards this house. she clearly wont as no longer works and is now on benefits so wont be asked to clear any surplus way i will if doing extra shifts?

luvchocolate

Its awful being left in this position as I well know......cheating lying ex partner!! A great many people on this forum end up in br due to other people, I thought I was the only one so this forum has given me more strength and support than I could ever imagine, strangers helping each when "loved ones" did the dirty on us.
I found step change brilliant plus I have the most understanding trustee in world. roll on 14th August.
You will get there I promise its a long road with many twists and turns but there is an end to it. xx