Help so confused, possible Bankruptcy

Sadmum23

hi,
Are benefits taken into account he gets PIP and private pension as well as RP

what happens to phone contract and car we have on a rental agreement?

Sorry for all the questions l am in turmoil at the moment - thank you

Sadmum23

Can anyone point me in the right direction to try and get some answers to my queries - thank you 

sourcrates

Hi,
Maybe some clarity on your situation would help, the more details you can give us, the less we have to drip feed from you, you understand your situation, we don’t, as we are just getting acquainted, so what’s your story ?

In bankruptcy you are allowed a car worth approx £1000, rental agreement would have to go.
Benefits not usually classed as income, so probably no IPA.

Sadmum23

thank you 
not sure what information you need so here goes
Living in rented accommodation . Myself husband and one adult child.
husband looking into bankruptcy.

income is Retirement pension,PIP, private pension.
I am a career for my husband so income is Carers allowance and “keep” from daughter. 

Is my income /debts taken into account .?
How does our daughters income affect bankruptcy?
thank you

fatbelly

I assume his debts are over 20k or he may be better looking at a DRO.
Your income is important only so far as it helps the OR to determine what his share of the household expenses should be.
Your daughter's income is not taken into account but what she pays as keep would be considered as household income

Sadmum23

thank you, yes unfortunately way over 20k.
we have a car that needs some major repairs value if car £2000 if we are lucky , repairs £1000 are we allowed to get it repaired? 

Thank you 

sourcrates

Before you go bankrupt, you can do what you like, except give preferential treatment to creditors, or give away assets, most everything else goes.
Its only once you are bankrupt that you must abide by the restrictions.

Sadmum23

Thank you.
From September my husband would be entitled to get a car under the mobility Scheme - how would this be viewed . Thinking at the moment is  application for bankruptcy would be October 

fatbelly

fatbelly said:

Your income is important only so far as it helps the OR to determine what his share of the household expenses should be.

I should have pointed out that there is no requirement for you to cooperate with the official receiver. If you don't they assume a 50:50 split of the expenses

MalMonroe

Sadmum23 said:

Thank you.
From September my husband would be entitled to get a car under the mobility Scheme - how would this be viewed . Thinking at the moment is  application for bankruptcy would be October 

To get answers to all your questions in the one place, your best plan is to contact one of the debt help agencies, I know other peeps on here are probably fed up of me saying but StepChange is excellent, they helped me when I was in deep debt. They have all the answers, they are not judgemental and they are very calm, very kind and extremely helpful. 

They are also understanding and help you every step of the way and will even submit your application for you if you want them to. Their services are free, the phone call is free. They put your mind at ease immediately (they did in my case, anyway).

You won't regret calling them, just click on this link for details : https://!!!!!!/3gKVgdR

P.S. sorry I know that link does look a bit weird but it's one I've shortened using bitly - the original link was too long. Just tried it and it works fine. 

fatbelly

Sadmum23 said:

Thank you.
From September my husband would be entitled to get a car under the mobility Scheme - how would this be viewed . Thinking at the moment is  application for bankruptcy would be October 

That's not a problem at all