im going bankrupt in scotland new law out April 2008

loulou88

daddybear wrote: »

hi every one .
a need advice ,was thinking of declaring myself bankrupt using the LOW INCOME LOW ASSETTS route bur not sure if i would be allowed ,currently owe £20 000 nearly and thats including the car that i have but stopped paying for , because im owe nearly 900 pounds to the local council and 1000 to electric and would rather have a roof over my head for me ,the wife and baby ,must stop babbling ,back to the first first bit i work 44hrs a week and the time the tax man takes his share at the end of every week ,i come out with £245 so would i be able to use the LOW INCOME LOW ASSETTS route ,was thinking of declaring myself bankrupt 2 years ago , went to the sherrif court got the forms but got told back then someone has to take you to court ,,, so any help would be helpfull ,

Hi ,
in scotland as of 1st of April you can apply yourself for bankruptcy,no need to wait for creditors . In England this is already the case.
The law in scotland changed on 1st April 2008.
If you are unsure of anything why not go to see the citizens advice or similar debt adviser they are free and fantastic
I hope this helps and keep checking on my blog and I will keep you up to date as it happens in my case.
Good luck daddybear let us know how you get on of if we can help in any way everyone on here is very helpful.

loulou88

Miss_Poohs wrote: »

Very interesting reading through this.

We are currently going down the DAS route (Debt Arrangement Scheme), with help from Welfare Rights and I have to say they have been very helpful, our case worker is a lovely guy.

Our DAS has been approve but apparently the AiB has been completely snowed under and all the paper work is taking an age to go through.

This is a fantastic site - loads of smashing advice, and I thank you all very much.

I'm not daft enough to think our troubles are over but at least we have a handle on things now.

Ohh and although the debts is my husbands and not mine - can I join the long haulers club?

I'm his driving force *winks*

well do you think all us bankruptcy applicants post 1st April law changed have created the AIB with new jobs. Do you think they have taken on more staff? Just a thought it is a little positive from all our negative debts? I've found it is best to look for all the possitive things in the bankruptcy journey helps to keep you sane. Maybe those people now have a job maybe they were on dole who knows?

loulou88

my next item to happen in my bankruptcy blog!
I have applied on line for my prepay credit card (virgin)
I'm not putting money on it until I know AIB dont want any of it but I will be using it to put a little on each week as much as I can afford maybe £10 a week or every other week? This will be saved for emergency fund. Maybe if i have to go see my family if they are ill as they live 550 miles away a ferry and buses/trains or 2 flights and a bus/train away. Who knows what the future will bring I want to be prepared this time I realy have learnt alot from this bankruptcy journey and I feel I am only at the begining.

addicted_to_plastic

hi loulou88,
just wanted to update you on our situation, my husband got his letter from AIB yesterday, he is now bankrupt..........no letter for me yet!!!!!!!!!!

loulou88

fantastic
congratulations:beer: :j :beer: :j
im sure you and me should get ours soon then. Let me know if you find him in the gazette Im interested to see if ill be on there.
It is comforting to see im not the only one going through this and thanks ever so much for letting me know of your progress.
I hope it all goes smoothly for you both.

addicted_to_plastic wrote: »

hi loulou88,
just wanted to update you on our situation, my husband got his letter from AIB yesterday, he is now bankrupt..........no letter for me yet!!!!!!!!!!

loulou88

sorry that "find him in the gazette" sounds like some dating agency thing lol:rotfl: :rotfl: :rotfl: :rotfl:
Is it a new dating site for bankrupts and bankrupts to be. lol:rotfl: :rotfl: :rotfl: :rotfl: :rotfl:

Grab a guy from the gazette :rotfl: :rotfl: :rotfl:

loulou88

ANY ONE FOR BANKRUPTCY BIRTH CAKE?:bdaycake: ITS MY BANKRUPTCY BIRTH
TODAY THE BIRTH WAS CONFIRMED IT WAS OFFICIALLY 6/6/08 I HAVE GOT A NEW LIFE (DECLARED BANKRUPT)
MY BANKRUPTCY HAS BEEN LIKE PREGNANCY AND BIRTH
SICKNESS AND WORRY IN THE PREGNANCY, APPLICATION FORMS TO FILL IN AND LOTS OF WAITING IN THE RUN UP TO THE "BIRTH"
THE BIRTH ITSELF HAS BEEN JOYFULL ALL THE WAITING IS OVER

I HAVE JUMPED AROUND SHOUTING YES YES YES AND I AM HAPPY AND IT IS SUCH A RELEIF TO HAVE A NEW BEGINING

NEXT TO COME WILL BE THE CRYING BABY STAGE DEMANDING AND NOT TO BE IGNORED THIS IS THE UPCOMING AIB INTERVIEW

I WILL KEEP YOU ALL INFORMED OF IF AND WHEN I GET AN INTERVIEW AND IF THEY TAKE MY CAR OR NOT (MY CAR IS ON HP)

THANKS EVERYONE IM OFF TO MAKE CAKE NOW HOORAY!

ID GO THE PUB BUT CANT GOT TO GO WORK TOMMOROW SO CAKE IT IS OH YES AND IVE GOT BALLONS LEFT OVER FROM THIS http://forums.moneysavingexpert.com/showthread.html?t=948049&highlight=cider

Rich08

What an absolute godesend of a thread
Of course noone wants to go bankrupt but there is so little information on first hand experience out there just now its fantastic you guys taking time out to help fill in all the grey areas in our wonderful:rolleyes: scottish system up here.

thanks and best wishes

Rich

loulou88

yes Ive found myself in the edinburgh gazette wow my only claim to fame or is that shame:o
on the good side my nice pretty pink prepay credit ca:o rd arrived today oh its lovely now I can start my emergency fund without getting it mixed up with my bank account money

heres to my new beginning:beer:

loulou88

HI ALL,
Well still no other letters from aib.
My car (that is financed car) is needing garage repair so I rang the the aib to see what happens to the car Im not paying for repairs if they are taking it away, and the aib said it will be taken away by the finance company or an arrangement made between me and the finance company for me to pay for it. I cant affford to pay what I owe on the car. I rang the finance company and they said in normal circumstances they would pick up the car. As I live on an island in the outer hebridies and they are in Birmingham it would cost them more than the car is worth to pick it up. So this is the best bit:j THEY ARE GIVING ME THE CAR:j:T :T . YES GIVING:j:T :T I wont owe them for it and they just sign it off as bad debt.

Now I have an 2002 car that is all mine:j
The bad bit is it is going in the garage next Thursday to have a computer diagnostics test as there is something wrong with the ommisions and engine management. SO it may cost me alot :eek: :eek: :eek: which I dont have:( And at the end of this month the tax is due.
But on the good side it is 6 miles to work (rural ) and there are no buses that go that way from here, so if I can get car fixed I can keep my job:j ( I love my job)
Good news or what? I'm not sure!