Will soon be starting the bankruptcy ball rolling......

Notgotapottoweein

Hi i'm very new to all this so please bear with me.

I'm going to be starting the bankruptcy ball rolling tomorrow but i have a few questions that are bothering me:

1) Can i stop paying everything tomorrow and use this cash for my fees and to rent somewhere else? ( i'm a homeowner )

2) Will i be able to enter private renting before i'm made bankrupt?

3) If so would i be likely to be thrown out once i was declared bankrupt?

4) Is it correct that non secured creditors are not allowed to take my belongings?


Thanks for your time.

maxmycardagain

i may be wrong, but.....

1) Can i stop paying everything tomorrow and use this cash for my fees and to rent somewhere else? ( i'm a homeowner )

You can stop anytime mate, its your dosh, thats the idea of going bankrupt i thought, your house may get repossesed if theres equity in it but that wont be for quite a few months

2) Will i be able to enter private renting before i'm made bankrupt?

most PL's renting thru estate/lettings agencies do checks, is your credit history already too bad?

3) If so would i be likely to be thrown out once i was declared bankrupt?

probably not, your landlord will be happy so long as he gets the rent

4) Is it correct that non secured creditors are not allowed to take my belongings?

if your bankrupt then no-one can take your stuff

betterlatethannever

Hi NGAPTWI (and i thought i had the award for long names)
Just to add, if renting, can you find a property in the local paper and avoid the use of an agent-you'll save on the agent fees too.
Even though my contract states i'm not allowed to live here as a BR, i never informed my LL and he's said nothing. He gets his rent and thats all he's interested in.
Can you prehaps get someone to go as guarentor? this helps in a lot of cases. I've heard some agents asking for 6 months rent up front for people with bad credit history.
Max is corect that no one can take your stuff, though if you have anything of value the OR might take it. By value i mean a car, baby grand piano etc.