Bankruptcy questions

fatbelly

You need creditor, balance, reference.

If the balance is wrong, for bankruptcy, it doesn't matter

Sam2022

So I have taken the first step of my plan today.  My PIP was paid on Friday and my UC was paid today.  I have stopped the remaining payments to 5 Credit cards and my Argos card.
For the first time in months we actually have some money to live on.
My only worry at present is one of the cards is from the bank I bank with.  Would it better to pay that one (min payment is £150) until I get a different account set up.  I have an existing Starling current account I could use in the interim but I don't know if I could retain that after my bankruptcy.
Or should I let my bank know I'm in financial difficulty, online banking says I can get at least one month's grace to allow me to get advice.

fatbelly

They have the right of setoff but won't use it quickly.

Concentrate on getting your new bank account sorted

Sam2022

I have contacted Starling bank who I have an existing account with to ask if they will allow me to keep my account.
If not I was thinking of trying Monzo
I owe money to all the main stream banks out there, which is making things awkward.

The car is being prepared for selling, I have sourced some of the household items we need which should bring the balance once sold to around the 6k mark, so that should be ok for Universal credit.  How quickly can I withdraw that from the bank to keep in cash before submitting bankruptcy application.
Ideally I just want it all done ASAP so I'm not stressing all the time.

fatbelly

If you withdraw 6k and go bankrupt there will be questions asked. Realistically you are looking at a 6-12 month timescale at least. Trust us- there is no rush and you will create problems if you do.

luvchocolate

Totally agree with the above..my or wanted 2 years bank statements..mine was a face to face appointment (properties and complicated)
Said he was looking for anything that jumped out. 
I understand that you want to get on with BR for your peace of mind but you would be better taking it slowly..with all your ducks in a row. 

stu12345_2

I would pay for my weekly shops in cash, than debit card, eg take out say £100 a week, buy groceries say £ 50 with cash, then bank the other £50 in the biscuit tin.

Sam2022

Ok I can see where you are coming from, I was just hoping things would be much quicker.
So in following a 6 to 12 month time frame, how do I deal with all the debt collectors etc in that time?  Can I just ignore them, as I have done for the past months.
As all the debts are credit cards/store cards/catalogue and a personal loan am I correct understanding they can't come and take my stuff or force entry to my home?
Sorry if I've asked some of this before it's just that I am worrying myself to death.
Also what will likely happen with the 3 CCJs I've picked up.  Can they come calling for the money I don't have.
The stress of everything is affecting my health quite a lot and I'm sure I am likely overreacting but I am like that, so sorry if I'm being a pain in the ****!
I do appreciate all the help and advice you all give me.

Sam2022

So some good news for a change, had a reply from Starling bank to say as long as the or doesn't ask for the account to be closed, they are happy for me to continue to using it.  They do point out that I will have no access to any form of credit, ie overdraft or loans.
So I have started the current account switch process to get things moved away from my current bank.  I won't have to worry about my benefits being raided because of my cc debt with them.

Grumpelstiltskin

You must move everything manually and don't use the bank switch service.