Just a few questions please!!!

Hayleylk1812

Hi,

So, I filed for Bankruptcy on Wednesday evening and on the Thursday I had notice that it had been accepted, then on the Friday I received an email requesting a telephone interview this coming Tuesday but I haven't yet received my letter from them that I'm guessing they need to have back before my interview?! Just a few questions below if anyone can help please?!

Does the letter I'm going to be sent from them get send by Royal Mail and does it state on it that it's from the Insolvency Service?
On my application for Bankruptcy I listed my partner as one of my debtors as he's got 2 personal loans in his name that I pay for as the money was for me, what will happen with that?
I do have a job and roughly get about £1,200 per month, I pay £170 rent a month and my phone bill, will I be required to set up an IPA?

Anymore information of any kind would also be grately received as I'm so worried

Thanks,

Hayley

TheGardener

Hi And welcome.
Mail: The stuff I got from the courts was not marked but a letter I got later in the year was. Are you saying that your partner is unaware that you have declared BR? If so I would seriously advise you sit down and discuss this as best you can. I'm sure it will not be easy, but if your partner is going to be remain a part of your life you need to be honest and open.

If the loans are in your partners name, your BR will have zero impact on them - they are not included in the BR and your partner will remain fully responsible for repaying them regardless of who spent the money. The OR will not allow anything in your budget to pay your partner back.

You need to complete an SOA and I would advises you read as much as you can on this before you speak to the OR. Use this calculator http://www.stoozing.com/calculator/soa.php and then use the MSE posting button at the bottom so we can have a look at your income and outgoing. Unless you are fully aware of what can and can not be included in your SAO, you risk quite a large IPA. Are you living with your partner?

Please spend as much time as you can spare to read as much as you can about the BR process on this board http://forums.moneysavingexpert.com/showthread.php?t=5353367

Hayleylk1812

Hi,

Thanks for your reply! He's he is aware of me applying for bankruptcy, on my application I put him down as someone I owe debt to the same as I did with everything else, what will happen there then?
No we aren't currently living together as we still live with our parents

Flyright

As per the previous advice posting, you will no longer be allowed to pay anything to your partner. The loans are legally his debts and he is responsible for paying them.

Violet1881

I got the letters in the post the same day as my interview. This was fine, I was told at the end of the interview just to send the signed papers back asap.

And yes please do read through everything on the link that The Gardener has provided - and try to be as prepared for your interview as you can be. I wrote everything I could think (dates of loans, what they were for etc) of on bits of paper and spread them out in front of me before the call in case I needed to answer anything about them. It really helped keep me calm and focused!

Good luck.

Hayleylk1812

Is there any way to cancel the bankruptcy now then as he will not be able to make the payments for the loan. I basically panicked and applied for the bankruptcy without thinking and seeking debt advise first, when I applied I emailed them pretty much straight away to advise I've made the wrong choice but they got back to me the next day and advised they had to make a choice given on the information I'd provided and accepted my bankruptcy

Violet1881

I can't help you there, sorry.
Do you have any other way of paying your creditors? did you discuss payment plans with them before you filed for bankruptcy? Hopefully someone will come along soon with some advice for you.

Hayleylk1812

I wasn't in debt with my creditors, I have never missed a payment, I would just continue as normal like I say I just panicked and didn't really think about it properly thank you for your help!

Hayleylk1812

That sounded stupid, when I said I wasn't in debt I meant I hadn't missed a payment like all my payments are up to date

Flyright

What was the reason you filed for bankruptcy?

Hayleylk1812

Because I didn't really have much to live on each month, but thinking about it now I'd happily live on that much until everything is paid off then go through Bankruptcy