Pre Bankruptcy Checklist

mbmonty

Hi

I am trying to help my BIL go Bankrupt, he is an alcoholic and drug addict, homeless or staying with other people in same situation.

His debt is being pursued and as there is no hope of a change in his circumstances I think Bankruptcy is best option.

What I would like to know is whether there is some sort of checklist of things to do before and a list of processes once it starts?

So far, from reading forum I have

• Open a basic bank account
• Remove any money from existing accounts
• Cash in anything that can be monetised
• Sell any assets such a car
• Get a copy of credit record to ascertain creditors and create a Creditors list
• Look for all other debts and add to Creditors list
• Use the cash to pay for the bankruptcy
• Keep the remaining cash until Bankruptcy has started
• File online for the Bankruptcy

Then what?

Have I missed anything?

Any suggestions?


Can anyone recommend a bank for basic bank account that do NOT do credit checks?

luvchocolate

Speak to one of the debt free charities......first

mbmonty

I called Stepchange and they said "we only deal with debt solutions where you pay" they told me cost of Bankruptcy but that was all they could offer.

I asked here for advice from the good people here, some of which work for the charities.

I would appreciate any input that answers the questions I asked.