please can you explain the process of BR please?

secretspender_2

I'm all up in the air at the moment.

My current debts are around £7500. Not a massive amount but they are owed out to several people and I am in the process of starting a DMP with CCCS.

However today I have just found out I am to be made redundant, as are 6 other people in my department. Whilst I am not particulary devastated as i hate my job, i am panicking as I will only be getting paid two months salary.

I have been applying for jobs that I' love to do but it means taking at least a £2k paycut so I just wanted to ask a few questions about BR - it was actually my mum who mentioed it to me.

1) what is the actual process and how long does it take?
2) what is the cost of it?
3) Will people be able to find out easily? (eg, if they put my name in google will it bring it up?)
4) Will they take my car off me - even though its worth about £300?
5) will it be difficult to get insurance, eg pet, car, travel etc
6) I have a Natwest Step account with a Solo card - will this close?
6) what are the advantages/disadvantages?

sorry for asking so many questions, I just want to get my life sorted. I've been running away from them for so long now, I have to face up to it :T

dalip

secretspender wrote: »

I'm all up in the air at the moment.

My current debts are around £7500. Not a massive amount but they are owed out to several people and I am in the process of starting a DMP with CCCS.

However today I have just found out I am to be made redundant, as are 6 other people in my department. Whilst I am not particulary devastated as i hate my job, i am panicking as I will only be getting paid two months salary.

I have been applying for jobs that I' love to do but it means taking at least a £2k paycut so I just wanted to ask a few questions about BR - it was actually my mum who mentioed it to me.

1) what is the actual process and how long does it take?You fill out a SOA and go to court, swear on oath, pay, see judge.bc all in a couple of hours.
2) what is the cost of it?£495 if on some benefits may get £150 off
3) Will people be able to find out easily? (eg, if they put my name in google will it bring it up?)it appears in your loacl paper and on the inslovency website
4) Will they take my car off me - even though its worth about £300?If you are not workingthey may argue that you don't need it
5) will it be difficult to get insurance, eg pet, car, travel etcHave heard some say yes,check clause to see if anything relates to bc
6) I have a Natwest Step account with a Solo card - will this close?depnds on the bank and how long you have had the acc
6) what are the advantages/disadvantages?advantage=debt free,disadvantage= credit score is shot to bits for at least 6 yrs

sorry for asking so many questions, I just want to get my life sorted. I've been running away from them for so long now, I have to face up to it :T

Have only given basic answers but you chould get a better idea. I reccomend you go back to CCCS and tell them about your redundancy and see what their view is. Good luck.D

secretspender_2

thank you Dalip :-)

I guess I am looking for an easy option. I long for the days when I had money in my pocket and a restful night sleep :-( xx

I dont want to stay out

secretspender_2

thank you Dalip :-)

I guess I am looking for an easy option. I long for the days when I had money in my pocket and a restful night sleep :-( xx

I dont want to stay out of work at all, I can pick something up quite easily :-)

Merry_Gentry

Hi Secretspender, as Dalip suggests I would get back on the phone to CCCS and get some advice. It may well be that you get another job straight away (fingers crossed for you) but you need to know what you can do if that's not the case.