Help With Bankruptcy Arghhhhhh

tanya6

can anyone give me any advice on this please, me and my partner are currently in an iva but we had alot of problems last year and now we cant keep up with our payments as a result we are £2200 in arears we have looked into bankruptcy and the clerk told us that we should be allowed to keep our nationwide flex account open but we owe nationwide nearly £1000 from a credit card, we came up with the idea of transferring the balance to a seperate card with a new firm so we dont owe nationwide any money and then we may stand a better chance of keeping our flex account and does anyone know how you are expected to pay the fees of the court when you have no money at all HELP ME PLEASE !!!!!!!

also we had two contract phones with the 3 company but we just couldnt keep up with the payments so we have cancelled but they have told us we cant do that as we still have 6 months left with them and they want all the monthly payments so this will be nearly a years worth with the two phones?

any advice will be great
tanya6

fermi

With regards to transferring the CC balance, if you do this knowing that you are going Bankrupt the 'Official Receiver' will not be impressed to say the least.

Paying one creditor in preference to another in order to gain yourselves an advantage when you go BR can be grounds for a Bankruptcy Restrictions Undertaking.

Do you owe anything to the Co-op or Barclays as they do the other accounts available to a BR? See:

http://forums.moneysavingexpert.com/showthread.html?t=474254

The contracts for the phones can be included in the BR, but they must technically be in arrears on the BR date.

philnicandamy

The First thing you should do is...

Get an appointment to see a 'money advisor' at your local 'Citizens Advice' office.
Call the Consumer Credit Counselling Service. Tel: 0800 138 1111 http://www.cccs.co.uk/
National Debtline. Tel: 0808 808 4000 http://www.nationaldebtline.co.uk/
Payplan.Tel: 0800 917 7823 http://www.payplan.com/
All the above numbers/websites are totally FREE they DO NOT charge for any advice & assistance given.
If you have any questions about the process of going BR, it's implications, pitfalls etc then feel free to start your own thread on the board.
Useful info can also be found on: http://bankruptcysupportersclub.co.uk which is a site run by a recent member here. If in certain cirmumstances your unable to pay for BR fees some of the utilities companies offer trust funds that could help pay fees

Some examples of these Trusts are below, but an exhaustive list can be found here.

http://www.edfenergytrust.org.uk/doc...ersDec06 .pdf















As far as transfer of debt to another card it'd probably be difficult to find another new card with your current IVA & credit status as well as if you do go BR the Official receiver may question the fact and possibly extend your BR period so its probably not worth it, there are other bank accounts for bankrupts around as well as nationwide so you'd not really struggle to find a replacement, I applied for a co-op cashminder account they are the bankrupts choice of account..never had any problems with them & everything is hassle free. As far as mobile phones go I had a contract phone with O2 & that had a few months left on it..I put down on the BR paperwork I owed them & left the Official recevier to contact them & becasue it was a debt incurred with bankrupcy they COULD NOT make me pay the rest of the contract, you can contact them yourselves should you decide on BR but they usually won't take any notice.







(thanks to Fermi info from a prev post)

EDIT GOT ME AGAIN FERMI!

debtmonkey1

Hi-You can get a pre-paid maestro card issued by newcastle building society (google 'bread card')-I've just got one & it's great. Also, you can get a pre-paid-mastercard-google 'cashplus'.

I mention these because if you have a basic bank a/c with barclays/co-op-these are two additional vards that BR can use-so you're banking facilities will be just about as normal as a non-br!!!

Definately definately DON'T clear the debt with Nationwide Anglia-the official receiver will not look kindly on this.

The outstanding years contract on the mobiles WILL be included in the BR.

Bin off the nationwide flex a/c-always best to start afresh (at least 1 day after declaring BR!)-THE NATIONWIDE COULD IF THEY WANTED TO CLOSE YOUR A/C AT ANY TIME.