considering bankruptcy help please

tigerfeet2006

tracytaxi wrote: »

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.

HA are pretty good at letting their tennants stay and as you said your neighbour has done it. I would try and make sure your rent is up to date before you go BR if you can. Landlords are usually informed but it is at the OR's discretion and if you can show a tennancy agreement and the fact you are up to date and ask them not to say then they usually won't.

I would definatly resurrect the cashminder before you go BR and also make sure you let them know before you go BR that you are doing so.

Check with NDL that you wouldn't be seen as withholding funds from your estate if you do that with the money.

Have a good weekend.

tracytaxi

hi spoke to national debt line yesterday, got to make a decision who to go br first, probably will be my husband. I can't go bankrupt until I sort out where our benefits can be paid in during the going bankrupt, and direct debits can be paid etc, as we get paid mon, wed and thurs can't afford not to be able to have access to our money.Also i need to sort out about my car and whether or not I will have a job as a result. arreats approx £180 on rent will have sorted that by then, rent is £71 per week.

betterlatethannever

Hi Tracey..you can get benefits paid into a post office account. These aren't touched by the Or as they are for benefits only.
You can't have DD's though, but for a short while you could cancel them and pay the old fashioned way.

tracytaxi

Has anyone know for sure what will happen to BT if I went BR, I currently pay on amonthly budget plan £77 per month that is line rental, and broadband, and charges etc. The pc is my only entertainment so I would hate to lose the broadband, but must have phone for hubbies piper alarm, I thought it would be best to finish the budget account and just be a cash on bill customer before BR,

Addicted2Chocolate

Do you owe money to BT? If there is no dent to them as of BO date, the Or will not inform BT of bankruptcy. I have never heard of a bankrupt being cut off if they dont owe them money.
Re the car: you have laready checked the agreement, and know bankruptcy forfeits the agreement. The OR will have to wrote to HP company to ask for confirmation of type of agreement, amount outstanding etc. It is up to the HP company whether they will let the agreement continue.
Re: the housing association. If you provide the OR with a copy of your tenancy agreement and dont have rent arrears, it is most likely the OR will not inform HA. But I have had many cases where there were rent arrears to HA, we had to tell HA of bankruptcy, but the tenants are not evicted.
Email me any questions as i am not on here that often.
Sounds like you are working too hard to me.

tracytaxi

Has any one gone bankrupt and managed to keep broadband and sky? I use it for work the pc, and the kids do,their home work on it. And as my husband and daughter are both on dla for their respective disability they both watch a lot of sky.
Still worried about bank accounts and the phone too. I s there anywhere we can get help with the bankrupt fees?

betterlatethannever

I managed to keep the internet (obviously:rolleyes: ) and it wasn't a problem on my I&E form as i needed it for work.
I've never heard of anyone being allowed sky no matter what, but please remember that there should be some money left over and if you choose to use that money to pay for sky then thats your business.
BT should not be a problem (read Addicted to chocs thread)
Re the bankruptcy fees, sometimes the local water board offers help, also, if your with them, British Gas, but from my own experience they are not offering much help, if any, as so many people are going BR. I would try and get the fees together yourself if you can, but you could always ring the above to see if they can help.

tracytaxi

I am unsure what people refer to with the income and expenditure, I have checked out some of the links, but don't know enough to decide how it would effect me, I will try to do an income and expenditure thing and post

betterlatethannever

That would be a good idea.
Have a look at this thread for ideas on what to include.
http://forums.moneysavingexpert.com/showthread.html?t=678269

tracytaxi

Well here goes,

Weekly self employed income £110 to £150
|Tax credits £186 per
incapacity benefit (husband( £179 per fortnight
dla hubbie £60 per week
dla daughter£240 per 4 weeks
Housing ben £38 per week

I need to know if the OR regards Dla for increased care needs , and not really count dla, like cccs and national debt line mention?


Rent inc arrears payment of £11.00 £86 per week
Council tax £105
Water £80 per month
Food/housekeeping £120 per week
Washing machine/tv rental £40 per month
extended warranty £14 per month
tv licence £11.65 per month
contact lenses(driving) £22.00 per month
Bus fares school £90.00 per month
Gas £60 per month
Electric £60.00 per month
|Car insurance private element £33 per month
Fuel private usage £40 per month
AA brakdown £12 per month
House contents in£12 per month
Bt inc broadband £60 per month (in 18 month contract 12 months left)
maintenance£80 per month
car hp currently out of gross profit unless sick or on holiday lol! £84 per week
children, school trips etc, pkt money £40.00 per month
clothes £50 per month
accountant £32 per month

currently paying also debts of Payplan £115 per month( 29 k owed about 4k hubbies)
S and U £40 per week
shopacheck £36 per week
credit union (husbands name\ £60 per month
capitol one visa £10 per month(i owe £190)
lx visa £30 per month (i owe 378)
empire catalogue £30 per month(owe 450)
premier man catalogue £25 per month(450 hubbie owes)
additions catalogie (800 i owe my cooker and other)

other expenditure;
hair £40.00 per month
mobiles inc kids essential for for all due to disability £65 per month (and i am always at work all my calls are from the cab)
xmas and emergencies £40 per month

Think that is all, oh apart from sky £26 per month.Sorry some amounts are weekly and some monthly. The car hp is currently coming out of my self employment profit, however when I am off sick or on holiday it come sout of our income. I am an expert juggler but tired of it. Do you allow for holidays or the odd night out, not that I have either. dla for my daughter and husband up for renewels this year and next. Don't know what tax credits will be in April, or what tax I have to pay . thinking of changing jobs if I cna keep a car or get another as its a 13 mile commute to the bus depot, take home pay is £225 on that per week but we would lose housing benefit and i suspect tax credits would go down