Bankruptcy has been approved now what 9 March 2022 at 1:41PM in Bankruptcy & living with it 11 replies 810 views

stanger66

As above it’s been approved do I cancel all my dd? Inc hp for my car 

also I am due to make a £300 payment on Monday for a ccj do I let the person know that I am bankrupt or let the system do that? ( think it takes 6 to 8 weeks for them to contact them) the ccj is named in my bankruptcy.

stanger66

Feeling relieved worse thing is I offered to pay ccj instalments but she refused. 

She cannot still get the bailiff to chase me

sourcrates

Ok, you are now bankrupt, so you do not pay any of your credit debts anymore.

If a creditor asks, you write and tell them your bankrupt, and refer them to your OR.

The CCJ is now null and void, the creditor has no remedy against you any longer as you are protected by your bankruptcy.

What is the situation with your car ? what`s its value ? is it essential ? You need to be a little clearer on this.

stanger66

sourcrates said:

Ok, you are now bankrupt, so you do not pay any of your credit debts anymore.

If a creditor asks, you write and tell them your bankrupt, and refer them to your OR.

The CCJ is now null and void, the creditor has no remedy against you any longer as you are protected by your bankruptcy.

What is the situation with your car ? what`s its value ? is it essential ? You need to be a little clearer on this.

Thank you I use my car but it’s on HP so I know I will lose it but do I stop payment towards it? 

Minkym00

You don't automatically lose it. Secured debts are not included in bankruptcy, but you need to check if your HP company will terminate on bankruptcy - some do, some don’t. How much are your payments? How long left on the agreement?

stanger66

£200 a month company have said I can keep it if I keep up repayment 

luvchocolate

It's up to the OR then to decide if you have an actual need for it and whether they approve the payments in SOA 

sourcrates

The OR (or someone from there office) will usually call you in the next few days, so my suggestion would be to take the opportunity then and ask about the car, they should be able  to give you an indication of what is likely to happen to it.

JCS1

How much is the car worth, and how much is left to pay on it?

stanger66

Thanks guys 

car is worth £8k 

JCS1

How much is the finance outstanding?