Where do I start

rog2

Hi Madeliene - Do as Payplan suggest - stop ALL payments to your DMP with IMMEDIATE effect.

I doubt very much that you will lose your computers - the OR didn't even ask me about computers - given your circumstances I don't think the OR will be interested in the fact that you have a PC and a Laptop - they are generally only interested in high value assets, such as antiques. He's CERTAINLY not going to be interested in your children's gaming consoles.

Ditto for the car - I think that someone else will confirm, but I don't think that they can take a car that is supplied on a 'motability' lease.

fermi

I agree with rog2. The laptop, PC and TV etc aren't worth the OR bothering with (no need to even list them on the forms). The consoles aren't your assets anyway, and again wouldn't be worth listing even if the were.
As said, it just isn't worth the OR's time/effort to deal with these types of assets.

The motability car should be just fine. It shouldn't be touched.
Read through the thread below where people discuss this and show that they had no problems.

http://forums.moneysavingexpert.com/showthread.html?t=458988

BLUEWKD

I was advised by the CAB to keep to any payment agreements I had made until the actual date of the bankruptcy. Also, NOT to tell creditors you are going bankrupt. If any start getting a bit funny that are not on your payment schedule, then just turn round and say that you are sorting out your debts with the CAB advisor. This seems to keep them quiet for a while. I needed my brother nagging me to go to CAB and not to let my illnesses stop me unless I was really, really sick on the day of the appointment. I hope you are in enough good health on the day that you can go. I promise that when you have been and the ball has started rolling you will feel a weight lifting of your shoulders. I don't know, if like me you can't sleep with worry, but now mine is nearly sorted I sleep a lot easier.
Good Luck with you appointment. I am checking out this thread every day, so that I can see how you are going on, so would appreciate an update when you have one

scaredwitless32

Hi Madeliene, I have been following your situation through your thread and just wanted to wish you well for your appointment with the CAB next week, Im glad you got one so quickly , we have had to wait nearly 6 wks for ours.
The CAB will confirm what to do re payplan payments when you go, as I understand that they will contact creditors etc on your behalf. We HAD to stop paying our creditors and cancel the DD as it would have taken the money we needed to live on for the month, but we have so far only missed one payment on the loan and cc, however we do not use OH's bank account as the overdraft and bank charges will just swallow his wages, we have started to get phone calls from the bank, but we stopped using the account from the begining of last month, so I guess thats only natural that the bank has started contact.
It will just be a matter of CAB confirming that BR is right for you and then finding the the court and OR fees, although you would not have to pay the court fees due to the benefits you receive. So sit tight , dont do anything, and wait til next week, just make sure you take all information of your creditors and payplan details with you, (statements and utility bills, proof of benefits that sort of thing,)
Goodluck and keep us up to date,
Best wishes

madeliene_2

Thanks again, your advice and help means so much.
I think we may get in a pickle about our bank accounts. Most of our debts was with our last bank, so we opened a nationwide account, which is what we now use. Payplan said we will probably have to close this account. I think the only other option is the co-op bank. Do we try and open one now or wait. Will our nationwide account not be safe?
Our benefit gets paid into the nationwide and all our utilities come direct out,
Do you need to go back to paper bills until it is all sorted.

BLUEWKD. I cannot remember the last time I slept well. The debts are there constantly, from the minute I wake it's like a huge black cloud. Sometimes I wish I could just escape it for a day or two, but it would follow me everywhere.

sleeplessnights_2

Hi Madeliene

I'm new on here, so I can't really give any advise.. But I just felt that I needed to say that my thoughts our with you and I wish you lots of love and positive energy

Sleeplessnights xxxxx

BLUEWKD

I was told that my bank account would be immediately frozen as soon as I put in the bankruptcy papers, so I suppose that the same would be done with any banks you have, so opening another one would not make any difference. I was advised to transfer my benefit elsewhere. I have got the benefits people to pay into my brothers account, which is fortunately the same bank. Until I receive the court date, he just transfers the money and I still get it the same day. The bank you are with will probably close the account, and you will only be able to get a basic account with them or one from a list that the CAB has that will accept bankrupts. I don't know if you have anybody like this?

BLUEWKD

I have just gone back to the beginning of your posting and seen that all your income is benefits of some kind. Just to let you know that if you can do what I did and get the money into someones account, then it only takes a couple of days. I get paid fortnightly and the day of my payment I rang them, 2 days later I received confirmation and the payment has just gone in and will not stop until I advise them otherwise

madoldbat

Hi Madeline,yet another view,we oppend a COOP account as soon as we had had advice to go BR from CAB had our benifits and wages ect paid into there.Changed DD and SO not a problem most people were very helpful,and everything was set up in a matter of about 2 weeks.This allowed us to save for fees.Original bank did ask why we had changed but we explaind CAB had advised this while we restructured our finances;) .
When we went BR we told OR that the only account we had was COOP basic and what went in were able to give statements to prove this OR was ok with it and COOP did not freez a/c as we had told them we were going BR from the first,so no difficulties .
Got COOP accout over phone ,helpful and quick.Electron/visa card within 2 weeks and you can use Post Office for payment and withdrawls.Have seen on this board it might take a bit longer now as Coop is the most popular choice for BR.
Hope this helps.I will keep reading to see how you get on so please keep us up todate.And well done for taking a very brave step to take controle of your life.

fermi

Exactly what Nationwide will do with the bank account is uncertain at the moment.

Nationwide seem to be in the process of implementing a new policy on the basic Flex Account and bankruptcy, but in all honesty they have made a complete b@lls up of it.:rolleyes:
Their policy is quoted as being entirely different depending on whether you ask at different branches, by phone or by email.

Getting benefits paid into a trusted friend or relatives account is probably a wise precaution if possible, although these payments should be accessible whatever happens (sometimes with a little help from the OR).

Co-op would still seem to be OK, although if opening the account before BR the usual cautions about it being frozen temporarily etc apply. Unless you can't avoid it it's still best to open it after (despite processing delays).