Bankruptcy questions

Hello

Just a few questions.

I believe the details of a bankrupt e.g. name & address are put in the local paper. Could i not object to this under the Human Rights Act. If the identies of escaped prisoners (re tonight's news) can be witheld because of this legislation why can't a bankupt's who has actually not broken the law?

If i do go for banruptcy will the court & O/R tell me the terms of the order regarding assets before granting it. Say they were going to take my car could i canel going through with the bankruptcy that late in the day.

Finally is it true that post bankruptcy payments to creditors are only voluntary. I think i heard this on a radio show & was wondering if it was true.

Thanks

Comments

  • It is published in the London Gazette and one local paper. I would think you are on a very sticky wicket going the Human Rights route.

    You petition for your own bankruptcy which is ratified by the Judge at the County Court.

    You then see the OR which might be the same day or four weeks later. That is when the decisions begin. They might not make decisions regarding a car for four months after bankruptcy.

    No you cannot cancel your bankruptcy when you change your mind, whatever the reason.

    Usually in bankruptcy you are allowed to keep your car and your assets - it rather depends on what your assets are!! If you have a lot of antiques, jewellery, or other valuables then it makes a difference. Computers/tvs etc can be bought back from the OR at a minimal price.

    Post bankruptcy payments to the OR are called an IPA and are not voluntary. If you have sufficient disposable income to warrant an IPA you will pay it for 36 months whether you like it or not.

    You need some advice on bankruptcy.

    We do have a Bankruptcy Club and Supporters on here

    Link http://forums.moneysavingexpert.com/showthread.html?t=273844


    If you are intending going bankrupt you need professional advice from Myvesta, Payplan, CCCS or the CAB
  • rog2
    rog2 Posts: 11,650
    First Post Combo Breaker
    Forumite
    I wouldn't worry UTC - I have not yet met anyone who saw my name in the local paper - in fact I trawled ALL the local papers and have not yet seen it. In any case, even if it is noticed, it will soon be forgotten.
    What you WILL get is scores of 'letters' from 'solicitors' and 'financial experts' (both terms used ectremely loosely) offering you 'the chance to annul your bankruptcy' by entering into a fee-paying IVA. Bin these.
    I am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
    If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.

    HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7

    DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS
  • raq
    raq Posts: 1,716 Forumite
    rog2 wrote:
    I wouldn't worry UTC - I have not yet met anyone who saw my name in the local paper - in fact I trawled ALL the local papers and have not yet seen it. In any case, even if it is noticed, it will soon be forgotten.
    What you WILL get is scores of 'letters' from 'solicitors' and 'financial experts' (both terms used ectremely loosely) offering you 'the chance to annul your bankruptcy' by entering into a fee-paying IVA. Bin these.


    Three members of our family went bankrupt over the last 4 years and none of them had their names in the paper.
    :A Tomorrow's just another day - keep smiling
  • UpTheCreek - I see that you got the same answers from another debt forum that I gave you!!
  • Your full name and address is also published on a website which is free for anyone to look at. If someone so wished they could check you out there.
  • justruth
    justruth Posts: 770 Forumite
    Just a quick addition to what everyone has said, how much time do you spend trawling through the local paper looking for who's gone bankrupt and how much time do you spend searching the net on the off chance that a neighbour has gone bankrupt? You just don't, so I really wouldn't worry about it!
    Debt £5600 all 0%
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