| T O P I C R E V I E W |
| Annie |
Posted - 23 April 2008 : 12:46:21
Hi everyone.
I am looking into going bankrupt. We are on benefits and I know that there is a discount for this. I am unsure of what other costs are involved. Do I have to pay for the help of a professional. There are a lot of websites offering help and advice. If I go with one of these what will the costs be involved? I have no idea where I wil get the money to pay for these costs. Could I borrowed some money from the Social (ie a Social loan) which I will pay back every week? I'm assuming that as this is automatically deducted from my benefits there will be no need for this debt to be written off. Am I right in thinking this?
I am also worried about my personal assets. Do I have to declare every electrical item I have that is of value?
Thanks for any help that people give me. |
| 15 L A T E S T R E P L I E S (Newest First) |
| Reviva UK |
Posted - 27 April 2008 : 23:15:15
Hi the experts are happy to help with telephone advice and support but would only charge a fee if we were asked to do a body of work. If you are currently in an IVA then there is a little less pressure because there aren't creditors / bailiffs / home visits and lots of phone calls. So there is often time to get organised.
Other people would like different levels of help and support which may include dealing with all creditors, all court action from creditors & bailiffs, preparation of all court documents, booking court attendance at court on the day, preparation of Official Receivers file ( complete history over the last 12 months & picture of assets & values etc ) plus attendaance with OR interview.
Unlimited telephone support before and during the bankruptcy period. Including help with grupy landlords, grumpy employers, bank accounts, pre paid debit cards, discharge certificates & filing with the credit reference agencies etc.
So there is help renging from free to really quite comprehensive if you need it.
I guess the most important part of getting professional assistance is that they have some considerable experience and are there to make the whole process as stress free and painless as possible.
But as always the forms are freely available and many people do go through the process unaided each year.
hope this helps
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
| m and v |
Posted - 27 April 2008 : 18:10:39
Good luck Annie.
I have my OR interview on the 9th - so I am nearly there.
I have found this forum a lifeline - debt is a horrible thing and it completely takes over your life but the support of the experts and members of this forum gave me the courage to sort it with BR.
Keep in touch x |
| Annie |
Posted - 26 April 2008 : 19:35:22
Thanks to everyone who has replied.
I am definately going to go for BR and not wait for my creditors to do it. I will do the forms myself and as I have found out this forum is brilliant for advice and help. Thanks again everyone...you are all stars!!! |
| m and v |
Posted - 26 April 2008 : 07:55:49
I petitioned myself because my IVA company have not properly reviewed my IVA in two years and even though I haven't made a payment this year they weren't going to be getting my creditors together for another 2/3 months. The thought of then waiting for one of my creditors to start BR proceedings seemed endless - I just wanted it sorted. So I saved up the money over the last few months. Creditors seem keen to get money from you when you're still trying to make payments, but when you decide you are insolvent they are in no rush to start paying for proceedings themselves. In the end I had nearly 4 months to get the money together and could probably have had 4 more! Hope that makes sense. |
| pix1 |
Posted - 25 April 2008 : 22:44:31
Annie, good luck in the future but please be wary that if you wait for one of your creditors to bankrupt you that day may never come or, if one of them did petition for it there would be a gap of perhaps a few months between the petition and the actual bankruptcy order. By petitioning your own bankruptcy - if the advice you get says that is your best option - you are in greater control of proceedings. It is expensive, though. |
| Skippy |
Posted - 25 April 2008 : 12:42:06
I would get free advice from one of the experts and see how you feel after that. The paperwork is reasonably straightforward (and you can always ask questions here!), and the staff at the courts are very kind and helpful.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/ |
| debtfreesusie67 |
Posted - 25 April 2008 : 12:39:00
Hi Annie I have paid Paul but only because I want him to take care of everything from filling in forms to coming to the court with me. He will be able to give you free advice as Alan has said.
Good Luck Sue |
| AlanO |
Posted - 24 April 2008 : 23:22:01
All the experts are happy to provide free telephone advise.
Suggest you contact one for a chat through
All the best Alan
www.debtdr.co.uk |
| m and v |
Posted - 24 April 2008 : 15:50:01
Annie
I left my contact details on Brett's website - each of the experts has put their link on their responses. I was able to complete the forms with Brett's support over the phone and his/other forum members help by asking questions as I went a long and it didn't cost a penny.
The help has been fantastic.
|
| Annie |
Posted - 24 April 2008 : 14:54:35
Thanks everyone for their replies.
Skippy - I thought about getting a social loan to pay for the BR fees. I wasn't sure how much I would need especially if I have to pay someone for some help.
M and V - I too might do the forms myself. I want to sort this out myself and not wait for my creditors to do it.
Sue - Do you have to pay Paul for his help?
Thanks again.
Annie
|
| debtfreesusie67 |
Posted - 24 April 2008 : 09:48:11
Hi Annie sorry I didn't reply but my computer was have a rest. I've been dealing with Paul at Reviva UK. He's also a forum expert like Brett but I have taken the cowards way out and asked him to do everything for me.
Sue |
| m and v |
Posted - 24 April 2008 : 07:23:37
Hi Annie
I too declared myself bankrupt after a failed IVA. I went down the route of paying for my petition but was told that I could have waited for one of my creditors to do this. So that way it wouldn't cost you anything.
I know I wanted it done asap and the thought of waiting months for a creditor to make me bankrupt seemed unbearable but its an option maybe.
I was going to pay a company to administer my bankruptcy too but thankfully an expert on this forum told me to get the forms and have a look through them and do them myself if I could....and I did!
They are long winded but definately something you could do yourself.
I have been in touch with Brett England (forum expert) throughout my form filling, bless him, and with input from people on this forum have filled in the forms and declared myself BR last Friday!
Hope it all goes well
x |
| Skippy |
Posted - 23 April 2008 : 21:03:05
Hi Annie and welcome to the forum.
BR fees are £495 per person, and if you are on certain benefits that will be reduced by £150.
When you go BR, you will be asked by the judge if you have taken professional advice (so that you understand the implications). I would recommend that if you haven't already done so you speak to the CAB or CCCS who will discuss your options with you.
I made myself BR last year after my IVA failed. Once you have confirmed that BR is the way forward for you, you really don't need to pay anyone to help you. You can either ask your local county court to send you the forms to complete, or else you can complete them online. I did the latter and although they are long winded, you can save the forms as you go, and you don't need to complete them in one go.
When you mention a social loan, do you mean to pay for the BR fees, or to pay a company to assist you with BR?
You don't have to declare your normal household goods, which would include your electrical goods, unless you have a 60" plasma TV that was paid for on a credit card!
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/ |
| Annie |
Posted - 23 April 2008 : 19:03:27
Thanks Sue. I see from your other post that you have an expert helping you already. Have you been advised of how much he charges? |
| debtfreesusie67 |
Posted - 23 April 2008 : 14:42:22
Hi Annie and welcome to the forum. I can't answer your questions I'm sorry as I'm at the same stage as you. I'm sure an expert will be along soon to help answer you questions.
Sue |
