Fighting Bankruptcy on the day of the hearing

dave1968 · 24 May 2018 at 1:31PM

antonic wrote: »

Glad to hear that this has all been resolved for you satisfactorily.

Just remember to set up your direct debit to pay your monthly instalments and quote the right reference number so your payments dont get lost in HMRC`s bank accounts (it does happen !).

And your right, engage with HMRC , give them the information they want and as you found out you get the right result.

You hit the nail on the head earlier when you said what would HMRC get if they did make you bankrupt - virtually nothing.

HMRC *normally* only pursue the bankruptcy option for non compliant and non cooperative debtors.

Just think 12 months of financial hardship and you can put this behind you and still be able to get credit (if you want).

Well done you ! :beer::beer::beer::beer:

Hi yes DD set up and they have said I can make further payments as and when I want off the monthly amount which is good, so long as each payment is cleared by the end of each month.

Thing is Im seeing this as if "i was" made BK for 12 months, as I will have my own restrictions life style wise. Basically I live on substance level for the next year but come out clear!

All none essential outgoings slashed including a holiday I was planning this year.

One question I can answer with regards to Business Paypal accounts as they have been some differing reports. In the case of a person going bankrupt the Paypal account will probably be closed off, and will certainly be closed off if there is any credit attached to it. The OR will inform Paypal when they see it on your bank statements.

Communication / with upfront payment seems to be the way to incubate yourself from bankruptcy when it comes to HMRC , I must have called them 11 or 12 times the past 6 days. Anyway I slept last night again ;-) thanks and good luck to anyone else facing similar situations.

dave1968 · 23 July 2018 at 6:24PM

Just a bit of an update for anyone interested or going through similar to me. Have the deal in place with HMRC Time to pay. This is upto date. Had lots of communication with them. Managed to get some penalties removed due to mitigating circumstances through illness a few years back. Had to provide lots of documentation etc and it took a while but worth it in the end.

Its the first time since April that I really feel I can avoid being made bankrupt. So long as I stand by my commitments. As I said before its all about communication with HMRC dont do what I did and try bury your head. And I have to say as I have been working my way through and paying the debt the office that is dealing with me have been fair and as helpful as they can.

I know BK is a valid option for many but for others it is not. This has been a major major wake up call for me no matter what circumstances got me here in the first place. I dont have a life at the moment in the way of luxuries, hols, or even a social life. Im on a really tight budget and living right on the edge. But in the end I hope it will be worth it.

I hope everyone else facing there own battles finds the solution and answer they need. On a side note Nat Debt Helpline were brilliant. The advise they gave has been invaluable. Tax Aid also, even though they could not help me directly gave really solid advise and answered a stack of questions. Kudos to both organizations.

Dave.

Fighting Bankruptcy on the day of the hearing

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