considering bankruptcy help please

tracytaxi

Hi we rent the tv because every telly I bought went wrong, and with the disabilitys there are 3 loads of washing a day ,w machine rental is £14.00 it seemed better than paying for a machine from a catalogue, and paying extended warranty on top.
a bit worried that they will freeze any bank account the benefits go in, we get paid mon, wed, and thursday.Can't give up work would go mad cooped up with husband,I'm not normally so poorly but over did it to get through xmas.
you are all so wonderful

tracytaxi

oh it's on my agreement for car that you invalidate the agreement should you go bankrupt, but national debt line said speak to official reciever where we live,and sound out the hp company and see if they will make an exception as you can't taxi without a car.

tigerfeet2006

I'm really glad that NDL were able to put your mind at rest somewhat.

I do 3 washes a day too :eek: so know what it's like. I bought a w/m from Curry's for £199 and took the Curry's insurance on it for £3.99 a month. Have called them out once in 2 years.

Anything you are not sure on there is usually someone around here to reasure you and the only stupid question is an unasked one!

tracytaxi

Off to bed shortly another 12 or 14 hour day back to work tomorrow!! At the end of the day I have only myself to blame, perhaps instead of struggling to work for the last 7 years I should of claimed income support in the first place, but then my ex husband starts kicking off about the csa, (mandantory to claim csa when on income support) and the ex starts a war with the kids involved.Just for the record for 2 children he pays £40 per month, but lets not go there.I appreciate the comment regarding currys, but when my machine packed up I had no cash at the time.Why, do machines or bad letters always happen on a saturday!! lol

fiveyearplan

You say most of the debt is in your name - why don't you post how much debt you have and how much your husband has and post your other outgoings. It may make it clearer for you which one of you should go BR if thats what you decide. As you can already see there are loads of people on here who can offer good advice.

tracytaxi

Hi , I owe approx £26 k and if I cannot keep the car half what is payable under that which would bring it up to £32 k approx, hubbie owes approx . £11,000 however husbands debt does not impact on our daily lives as much as most of what he oews is with payplan all but £1,000. something which we we had forgotten about over six years old , so I have sent a " limitation" letter of to them. Mine £24 k is with payplan,( not inc hp) the other is sadly shopacheck and su , doorstep lenders,( like provident) used in desperation when we moved house and the car (old one) packed up, and also when tax credits overpaid and recovered money from us, halving what we were on.
I don't hide from my debts and try to pay along , online banking is adream every morning to make sure I am on top of it.

I can't afford for us both to go bankrupt at the same time due to the deposits required.Normally i cope quietly and would not dream of this sort of thing but I would like a life this year, to see the kids etc, don't know if I am brave enough any way. I am most worried about keeping a bank account preferably with a debit card as we are abit isolated, keeping the phone , and internet,as the children use it alot too for home work, and most of all some one we know seeing it in local paper especially my mum!!!!!
I am due compensation approx £1,500 for whiplash would the official reciever want taht money does anyone know too.forgot to mention that I am a housing association tenant with minimal rent arrears.

tigerfeet2006

There are 2 accounts available to BR's

Co-op Cashminder account

Good points -

• Comes with a Visa Electron card, which can be used online, high street shops, for bill payments & at Link machines.
• You can also set up direct debits on the account, & it has internet banking.
• You can pay money into it at the Post Office, as well as at Co-op branches.

Bad points -

• Can take anything from 1-4 weeks to set the account up, depending on the amount of applications they've got.
• They don't seem to have publicised it, but they seem to operate a "3 strikes & you're out" rule (see this post), so you have to be prepared to keep a close eye on your account otherwise you might lose it.
• The internet banking isn't always up-to-date at the close of business, so your online balance may not be a true reflection of what's actually in the account.
• Not all branches are open on weekends.
• There aren't many branches.

Barclays Bank Cash Card Account

Good points -

• You can withdraw money from the post office, Barclays or Woolwich cash machines.
• Transfer money to other accounts by phone 24 hours a day.
• Can pay bills by direct debit or standing order.

Bad points -

• Only comes with a cash card.
• No internet banking.

(taken from the sticky at the top of the board)

For some reason most people go for the Co-op account

The OR will probably take the compensation I'm afraid.

Just out of interest do you know where the BR's are in your local paper? have you ever seen one? They are usually at the back with escort ads etc.

Who's name is the tenancy in or is it joint? Make an anonymous call to them and ask them what their policy is.

tracytaxi

Tenancy is in my name, was not worried aboutthat side of things, as my neighbour has been bankrupt, would they be informed, I presumed if by that point i had no rent arrears, it would not matter.
Oh and I have got a cashminder account already.
Probbably better for my husband to go bankrupt first, they can't take my compensation for him going bankrupt can they??
It occured to me I could use my compensation to try and buy an older taxi so I could carry working hwen the time came, but its a matter of finding a reliable one.

fiveyearplan

I would really ring CCCS or National Debtline (phone numbers in Tigerfeet's signature) on Monday to get their advice. If you do decide one of you is to go BR they will ask if you have received professional advice. Regarding the HA tenancy, how much arrears do you have and can you pay them? The OR may contact them if you have arrears but will probably not bother if you are up to date. List up your outgoings so we can try and help a bit more.

Yes, you do deserve a life and shouldn't feel ashamed of BR. You've been coping with quite a lot on your own for a long time. If you didn't have all that debt you could start to look after yourself a bit more.

fiveyearplan

TT - keep asking questions. I know you're working all day but if you think of anything, I'm sure someone on here has been through it themselves.