BR and Car insurance claim?

lindsaygalaxy

Hi

As you can see from another thread I am lookign at going bankrupt.

I currently have a car accident personal claim taking place. If i get awarded it is expected to be about £2500 - If i win the claim.

My other car ( worth about £4500) was written off. After paying off the hp I was left with £900 to buy another car ( £500 was kept for excess as fault has still not been proved).

If I get the claim, what can i do with the money. Some will be used to become bankrupt! But if i spend any of the money will they look badly on this?

I still have a £700 electric bill from my old house to pay off, £400 council tax debt, need a new sofa and tumble dryer and saofa is worn out and tumble dryer broken. I also have a £3000 tax credit over payment to pay. I/my daughter also needs new clothes, a new bed ( as her cot bed is getting too small) and car needs servicing.

Is it worth waiting, or just applying for bankruptcy now as they will take the money anyway?

tigerfeet2006

Hi Lindsay,

Your debts will go with your BR so don't pay them or you will be seen as favouring a credtor.

Do you have a car at present? Do you need a car?

If you do go BR and then get the money you will have to tell your OR but if you need essential household things them he may let you keep it. If you buy things before BR as long as they are essential the OR shouldn't moan to much.

Are you a member of your local freecycle groups? www.freecycle.org You should be able to pick up a lot of what you need.