Bankruptcy questions

Sam2022

I dont think that is a worry for me, I'm declared unfit for work by DWP and have been for a number of years.  I cant see that changing anytime soon.  Don't get me wrong I would rather have my health and work than live in severe pain on benefits.
It's been a difficult number of years worrying how to get on top of finances and despite everything it just gets worse.
I think I will go ahead sell my car and get the things I need in the house, the sofa is falling apart and the bed is like sleeping on metal spikes, which is great for someone with back and joint problems.  Neither my partner nor I have had any new clothing for 2 years so that might be an idea.  Obviously I need to make sure I'm not over the 6k limit for UC but that shouldn't be too difficult.
I feel guilty about spending money on things when I'm so far in debt, which is why stuff has never been renewed but if I don't do it now I may not have another opportunity for at least 6 years.

RAS

Don't splash out madly but a decent bed and a chair in which you can sit comfortably would be very good purchases. And when you look at clothing, think about some decent winter clothes and shoes that are comfortable? What state are the cooker, fridge and washing machine in? 

fatbelly

RAS said:

Don't splash out madly but a decent bed and a chair in which you can sit comfortably would be very good purchases. And when you look at clothing, think about some decent winter clothes and shoes that are comfortable? What state are the cooker, fridge and washing machine in? 

Hoover, freezer, microwave, what about one of those multicooker pressure cookers?

Sam2022

The cooker is actually only 5 years old but the grill doesn't work, I asked about getting it fixed but it was so expensive I said no.  Washing machine is OK but I do need a decent tumble drier, living in a 2nd floor flat means no drying area.  Fridge is fine works well but could do with a freezer.

RAS

You are getting the idea. And what about new bedding?

Sam2022

I could do with a multi cooker to try and cut down on energy costs.  I'm paying £245 a month at the moment and still owe 300 in debt to Eon next.
I wanted to clear that and put myself in credit if possible, if that would be slowed?

Sam2022

Above should say allowed not slowed

fatbelly

Generally don't pay off debts. Bankruptcy is a sledgehammer that deals with everything.

However, certain debts will be joint with your partner and become theirs. You shouldn't technically prefer one creditor over another but...

We have just got a multicooker and use it a lot. Really shortens cooking times so I think it does save money

I think you're getting the idea

Sam2022

So I sell my car and use the money to fund my bankruptcy, replace old household essentials including a decent bed and sofa, I'm going to be ok with that by the official receiver?
Does he have any powers to penalise you??
If not I may as well work on replacing as much as I can.

stu12345_2

receiver can let you keep a cheap car if it's essential, eg no public transport available.or you need it for your job.

they only get nasty if you have spent money recently which should have gone to creditors or have given things away for free or sold  recently..that were severely undervalued 

as other posters said the worst is you get an extension , the rules says an extra  2 to 15 yrs on your bankruptcy.( who gets 15 years, must have been someone that ran up £ hundreds of thousands in gambling,  then went bankrupt on purpose)

may as well buy new things if you don't plan on working or can't work  for many years to come.

cos they can't grab money from you if  you don't have any. spare at end of  each month anyway ! if you get an extension that is.

if I were in your shoes, I'd spent it almost  all, replacing all i can ,carpets, couch, mattress ,bed,cooker,  cos if you are going to be on UC for years and Bankrupt, then you will not get access to credit , not have the ability to save up and replace household items. or car repairs etc

I mean all you may get is a eg £250 crisis loan from DWP..


I'd keep the rest that you never spent in cash at home, cos the receiver will never know how much you have in your wallet or biscuit tin., nor will the DWP ,  Receiver etc., biscuit tins come in very handy if you get my drift

but they will know what you have in your bank accounts and officially that money can be taken to give to creditors.