Bankruptcy Form Help Please

facingthemusic

Hi everyone - I'm a long time lurker, first time poster. I have a question about the bankruptcy forms but my Debt Advisor at the CAB is not back in the office until Wed and my BR day is Thursday so I was hoping someone here could help me as I would like to have them all but complete for him to review.

1st Q: assets I own, in the last box about home what exactly do people put? Im going to put my Laptop down but do they expect you to put TVs and if you put TVs do you put DVD players, Xbox etc. There is nothing in my home more than around £100s worth as most of our things are a few years old now. Should I list all electricals anyways?

2nd Q: About life insurance - is this any policy you own or just related to a mortgage as it says something about endownments next to it? We have a policy with tesco as we have a dependant (our son, 1). We pay for it monthly £15 per month. Its would be worth £150k if 1/both of us died. Is this what we need to list there?

3rd Q: Outgoings. My wife does not work - therefore no income apart from CTC and CB. On her form does she put my wages in the "income from other members of the household" and then all the same outgoings as myself?

4th and final Q!: In the statement, what is the OR looking for? An essay on how it happened (which it would be if I wrote it!) or a straightforward "got this CC card x of x 2002...." and just the facts? I don't want to put too little... but I don't want them saying I've wrote a lot when all they wanted to know was the facts? How did people on here tackle the question?

If anyone could help I would be very grateful and thanks for reading my post and getting this far. I just want to crack on and get these forms out of the way now.

Thanks again.

gettingitsorted

facingthemusic wrote: »

Hi everyone - I'm a long time lurker, first time poster. I have a question about the bankruptcy forms but my Debt Advisor at the CAB is not back in the office until Wed and my BR day is Thursday so I was hoping someone here could help me as I would like to have them all but complete for him to review.

1st Q: assets I own, in the last box about home what exactly do people put? Im going to put my Laptop down but do they expect you to put TVs and if you put TVs do you put DVD players, Xbox etc. There is nothing in my home more than around £100s worth as most of our things are a few years old now. Should I list all electricals anyways?

2nd Q: About life insurance - is this any policy you own or just related to a mortgage as it says something about endownments next to it? We have a policy with tesco as we have a dependant (our son, 1). We pay for it monthly £15 per month. Its would be worth £150k if 1/both of us died. Is this what we need to list there?

3rd Q: Outgoings. My wife does not work - therefore no income apart from CTC and CB. On her form does she put my wages in the "income from other members of the household" and then all the same outgoings as myself?

4th and final Q!: In the statement, what is the OR looking for? An essay on how it happened (which it would be if I wrote it!) or a straightforward "got this CC card x of x 2002...." and just the facts? I don't want to put too little... but I don't want them saying I've wrote a lot when all they wanted to know was the facts? How did people on here tackle the question?

If anyone could help I would be very grateful and thanks for reading my post and getting this far. I just want to crack on and get these forms out of the way now.

Thanks again.

Hi i will try and help as much as possible

1) household goods is such things as plasma tvs any antiques or a van gogh if you have one ,things like laptops (unless top spec and new ) fetch no money so are of no value to the OR so if you dont own any of the fore mentioned then leave it blank .

2.) not sure on this one but i have an idea you would haft to put it down,you will be given the chance to buy it back by the OR .

3) you still haft to put down the ctc and cb on the forms but these are not taken as income by the OR

4) just facts will be fine as if the OR needs more information they will generally ask .

Hope this helps

tight_jock

facingthemusic wrote: »

Hi everyone - I'm a long time lurker, first time poster. I have a question about the bankruptcy forms but my Debt Advisor at the CAB is not back in the office until Wed and my BR day is Thursday so I was hoping someone here could help me as I would like to have them all but complete for him to review.

1st Q: assets I own, in the last box about home what exactly do people put? Im going to put my Laptop down but do they expect you to put TVs and if you put TVs do you put DVD players, Xbox etc. There is nothing in my home more than around £100s worth as most of our things are a few years old now. Should I list all electricals anyways? As GIS says. Only the mega plasma screen or stash of Krugerrands need be declared. Normal household goods are of no interest to the OR

2nd Q: About life insurance - is this any policy you own or just related to a mortgage as it says something about endownments next to it? We have a policy with tesco as we have a dependant (our son, 1). We pay for it monthly £15 per month. Its would be worth £150k if 1/both of us died. Is this what we need to list there?The OR will take any life insurances in the BR name. You will be given the opportunity to buy it back.

3rd Q: Outgoings. My wife does not work - therefore no income apart from CTC and CB. On her form does she put my wages in the "income from other members of the household" and then all the same outgoings as myself?If you are both going BR you will be allowed to duplicate the forms. ie submit two forms with the same info but different names. The OR should be notified that you have done this (just to make sure) when you have your initial interview. CTC and CB should both be included as income . The CB will be exempt

4th and final Q!: In the statement, what is the OR looking for? An essay on how it happened (which it would be if I wrote it!) or a straightforward "got this CC card x of x 2002...." and just the facts? I don't want to put too little... but I don't want them saying I've wrote a lot when all they wanted to know was the facts? How did people on here tackle the question?
Those who have done the ded recently appear to have done a short sharp bullet opoint list.
Any further detail will be requested during the interview .
If anyone could help I would be very grateful and thanks for reading my post and getting this far. I just want to crack on and get these forms out of the way now.

Thanks again.

Best of luck. If your CAB bod is as good as ours was then everything will go as smooth as silk.
:beer:

gettingitsorted

you should have a page at the end of the forms so just write on there saying what the CAB advised you to do with the cards and it should be fine .

tight_jock

If you haven`t got the numbers. you`ll need to supply the account name and holding branch from which the OR should be able to get access. Or if you have/had internet bank, you could get the details from there or any statement.
:beer:

gettingitsorted

There will be a bankruptcy clerk at the court who will check over your forms so dont worry to much (i know thats easy for me to say ) .