Newly bankrupt

advise-wanted

My husband was taken to bankrupcy we got behind for one reason or another and here we are hearing date was tuesday just gone and he
decided not to attend the hearing as would mean a day off work unpaid so not worth it as we were happy for it to go ahead, today should receive paperwork in post we are told... Then just waiting for the OR phone call which im dreading

I wonderes if anyone knew if i can help him with the phone call/interview as only he dont have any idea on bills or anything he dont deal with this side on things as ive taken over his finances so therefore would be unable to answer questions asked ??

Also he has unstable mood personality disorder which i beleive is why we are here today as his conditions means he dont take tthings serious and leta things slip... Would this go in our favour to being this up???

egrescrimp

It's probably time to get him up to speed with your outgoings, easiest way is to put it down on paper and go over what the outgoings cover. Have you got a SOA yet? One will be needed so that they can work out whether an IPA will be implemented.

I'm not sure what you mean by go in his favour? The OR isn't going to rip into him and tell him off, they will just want to build up a picture of how he reached the point of bankruptcy.

The phone call isn't that bad to be honest, it's about an hour of your time will be over before you know it

advise-wanted

I have done a SOA which i think is accurate?.
I will of course write it all down for him but just wpuld like to be present if possible due to his illness to make sure everything goes ok and i know whats gone on ect,

egrescrimp

Post up your SOA and we'll let you know if any changes need making

Shouldn't be a problem with you being present for support, but might be worth asking the OR if that's fine when you find out when the interview will be.

advise-wanted

Husband Income is £2000 month, less Tx & Ni usually left with approx - £1605

Mortgage 790.02
Basildon council Tax 155.00
Eon Gas & Electric 170.00 - ( this is made up of arrears we owe to joint names thou so not sure what happens here as im not bankrupt so still would be this amount??)
TV Licence - (3 monthly £37.62) 12.54
prescription 8.20
Sons Swimming lessons (£42 - 6 weekly) 24.00
Water Rates - (3 Monthly average £210) 70.00
Food Shopping - (£85 a week average) 340.00
Emergency Fund 40.00
Total: 1,609.76

egrescrimp

If in joint names, the debt would still exist and would be payable unless you went bankrupt.

Is this the only income you have in the household? No benefits such as tax credits? Do you work? What amount of your money contributes to the running of the household?

How many people does this SOA cover?

advise-wanted

Included me husband and 2 young kids.

I am at college, I get tax credits & Child maintence. my breakdown is...

Income
Tax credits 363.05
Child Benefit 136.20
Total: 499.25

Less
Child Care - Nursery 217.75
02 mobile 40.00
Admiral Car Ins 42.46
Petrol Car - 90.00
Credit card - £20
Phone, tv, internet 55
life Insuarance 10.77
Kids needs - clothes/School bits/college me 20.00

Total: 495.98

egrescrimp

Based on what you've put, I doubt he'll get an IPA. Because you don't work the benefits will be in both names so are likely to be included as his income too.

Good luck with the future, it should be much brighter for you

Former_E.ON_Company_Representative:_Malc

advise-wanted wrote: »

Eon Gas & Electric 170.00 - ( this is made up of arrears we owe to joint names thou so not sure what happens here as im not bankrupt so still would be this amount??)

Hi advise-wanted and welcome to the Forums.

Thought I'd pop on and confirm egrescrimp advice. If the account you have with us is in joint names or just your name, the debt will remain.

It would only be where the account was solely in your husband's name that our Insolvency Team will deal with it.

Hope you don't mind if make a few suggestions that I think could help in the future.

From your post, I assume the £170 you mention is part of an ongoing payment arrangement. Is this a Monthly Direct Debit?

If not, I'd think about setting one up. Accounts with a Monthly Direct Debit have lower daily Standing Charges. Might help a little.

Also, make sure you're on the best tariff for your circumstances. Pop your usage on to one of the independent comparison sites. This will list all the tariffs available to you, both with us and with the other suppliers.

You might also want to think about going on to a Prepayment Meter. This is where you buy energy in advance from a local retail outlet.

Not everyone's cup of tea, I know, but some find it a useful way to budget. We can put the arrears on to the meter, too, so it collects at a lower weekly rate than I suspect you have at the moment.

There's no charge to fit a Prepayment Meter.

Additionally, we can help you save money by saving energy. There's lots of tips on our website to help you cut back. In particular, check out the Saving Energy Toolkit.

Hope this is of some interest advise-wanted and best wishes for the future.

Malc

advise-wanted

Husband has just received information from his Official receiver.

He has to attend an interview this week, have been asked to complete the PIQB questionaire.

Having looked its very in dept as to expect.

can i ask when filling it in do i take into consideration things i his wife own/have bought do i note them down or exclude. like tv for example ive bought do i include that? household furntiure chairs ive boughts?

alastairq

Hi...no you don't.

Besides, domestic goods, household items, etc are not considered by the OR.

If you have the odd asset, like an expensive painting, or a Ming vase, then the OR will want to know about things like that...ie, if the BAnkrupt owns them, then they become an asset in the Bankruptcy.

The main sorts of asset, aside from those examples I quoted, would be property [houses, etc] and things like cars, motorcycles, etc.

There are specific rules about cars [ie, getting a car exempted-as-an-asset?}....to be found in the stickies at the top of this page.