New to bankruptcy, lots of questions

fatbelly

As soon as your intermediary presses the button it is considered by the DRO Team. Normally approved in 1-2 days.

Very few fail. If they do, you've lost £90 and you have to find £680 for bankruptcy.

beth3735

Thank you again,

I am taking all of this advice in which is helping me out loads.

so this may seem a dull question but as stated above I really need to make sure my monthly left over money is less that £75 which it is, but what do I do with the money section such as car maintenance and emergency money etc as obviously I won’t be needing to spend it monthly in little bits.

do I take the money out of the bank and put it away for those moments please? I don’t want them to think I actually have that money to spare.

thank you 😊

fatbelly

As long as your bank account isn't connected to your debts you're OK to just let it accumulate there. It would count as an asset but you're now allowed 2k of assets.

beth3735

Thank you Fatbelly, I’m going to call stepchange up tomorrow to try and get the ball rolling 

ikati5

I am an undischarged bankrupt and my advice would be to check and recheck what will happen to your insurances.
It is very difficult to get insurance that you can pay monthly and a full years car insurance is not something budgeted for !