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Bankruptcy help!
Comments
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Your petition for bankruptcy requires you to declare all money you have in whatever form you have it or expect to get in whatever form you expect to get it. If you convert the money (which might cost you money to do) or have it on a prepaid card, you'd still have to declare its existence. It's much better just to say you have the money but it's needed for day-to-day living expenses.yeah i set up an appointment shortly after the new year with my CAB. thanks for advise.
just to be on the safe side can OR freeze prepaid cards, travellers cheques, bankers draft etc? Best to be safe than sorry.
BSC #53 - "Never mistake activity for achievement."
Consumer Credit Counselling Service (CCCS)| National Debtline| Business Debtline| Find your local CAB0 -
wherediditallgo wrote: »Your petition for bankruptcy requires you to declare all money you have in whatever form you have it or expect to get in whatever form you expect to get it. If you convert the money (which might cost you money to do) or have it on a prepaid card, you'd still have to declare its existence. It's much better just to say you have the money but is needed for day-to-day living expenses.
why do i have to declare it exist? doesnt the OR/creditor computer system track it to find out it exist? Similar to the DVLA ad 'you cant escape the computer'.0 -
why do i have to declare it exist? doesnt the OR/creditor computer system track it to find out it exist? Similar to the DVLA ad 'you cant escape the computer'.
Yes the OR can find out about your accounts etc but you also have to declare it. When you fill in the forms you must be truthful and tell them everything to the best of your ability. This helps the OR sort out your affairs quickly and easily. If you knowingly miss something off or are less than truthful it can cause you problems and you could end up with a BRO. When you go to court you swear that you are telling the truth.
I know you have an appointment with the CAB in the New Year but could you ring one of the debt charities to get advice now.BSCno.87The only stupid question is an unasked oneLoving life as a Kernow Hippy0 -
When you petition for your own BR, you have to complete a "Statement of Affairs" (SOA). That lengthy document is your statement of your circumstances in their entirety, to the best of your knowledge. When you go to court, you swear that the information you've put on that document is the whole truth, not just the bits that you fancy revealing. You are in effect swearing that you don't have the money to pay your debts, & that the information on your SOA backs that up. Your petition isn't just about you giving the OR your details, it's about you telling the truth about your circumstances & allowing the OR to make a decision on that basis.why do i have to declare it exist? doesnt the OR/creditor computer system track it to find out it exist? Similar to the DVLA ad 'you cant escape the computer'.BSC #53 - "Never mistake activity for achievement."
Consumer Credit Counselling Service (CCCS)| National Debtline| Business Debtline| Find your local CAB0 -
whats BRO?
is petition for BR is the same as declaring yourself bankrupt?0 -
A BRO is a Bankruptcy Restriction Order. You can find more info on it if you go to the Insolvency Service website. If there are any other acronyms you don't understand, you'll find many of them covered in the sticky at the top of this forum.
'Petition for BR' is the same as declaring yourself bankrupt.BSC #53 - "Never mistake activity for achievement."
Consumer Credit Counselling Service (CCCS)| National Debtline| Business Debtline| Find your local CAB0 -
wherediditallgo wrote: »A BRO is a Bankruptcy Restriction Order. You can find more info on it if you go to the Insolvency Service website. If there are any other acronyms you don't understand, you'll find many of them covered in the sticky at the top of this forum.
'Petition for BR' is the same as declaring yourself bankrupt.
why would anyone delare themselves bankrupt? bankruptcy is a bad thing right?
its like shooting yourself, correct me if im wrong.0 -
Bankruptcy is NOT a bad thing, nor is it illegal, nor is it shooting yourself in the foot.
Don't get me wrong, its not good, but IF you have no money to pay the bills then what are you supposed to do.....?
Its a chance to re-start your life. though its not an excuse to carry on life as you were before, infact thats not even an option.The first time we said hello, was the first time we said goodbye. As the angels took your tiny hand and flew you to the sky-you forever left us breathless. RIP my beautiful granddaughter
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You're wrong, & there are loads of reasons why I'm not going to take the time to explain just how wrong you are. Instead, I'll just say that if you read any page of posts on this forum, you'll find the reasons why people file for BR all by yourself.why would anyone delare themselves bankrupt? bankruptcy is a bad thing right?
its like shooting yourself, correct me if im wrong.BSC #53 - "Never mistake activity for achievement."
Consumer Credit Counselling Service (CCCS)| National Debtline| Business Debtline| Find your local CAB0
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