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chester2005
Posted - 29 December 2008 : 14:11:07 I am so glad i've found this site and the forums i have spent most of the last 24 hours reading blogs and posts. There seems to be a great deal of friendly advice available to read and i thank you for it.
The question i have is; will i be frowned upon if i go BR in the middle of January because i have used my current account overdraft to pay for Christmas gifts and to withdraw enough cash to pay the fees in court??
Thank you Chester2005
3 L A T E S T R E P L I E S (Newest First)
Reviva UK
Posted - 29 December 2008 : 17:17:43 Hi
As you suggest timing is everything - it helps to ensure that you have suffient funds to cover you until the next payday, plus it allows you time ( in a controlled fashion ) to arrange direct debits / standing orders into the new bank account befire the old one closes down.
I also believe that if you have prepared well it makes the job of the Insolvency Service easier too!
Paul Johns Assisted Bankruptcy Specialists Reviva UK
Posted - 29 December 2008 : 17:14:40 Jo thank you for the reply i wasnt sure how it would be viewed.
I havn't spent too much i don't think, by the end of the month i usually am down to about £0 but this month i will be in the overdraft and by the time i take out the fees i will be about £750 into a £1000 overdraft.
My "payday" in Jan will be about 14th my DLA goes in every 4 weeks and it last went in 16th Dec so i'm planning on taking that out of the account and then submitting the forms.
I must admit it was reading on this site and your advice that made me think about "when" to do it, otherwise i might have lost access to my funds when they went in.
I'm sure i'll have more questions but until then thanks again Chester
Needafriend
Posted - 29 December 2008 : 14:59:10 Hi Chester
Welcome
I dont think it will be frowned upon providing you did not buy extravagantley on the gifts that you bought and that you are also using some of the money for your fees. Have you satyed within your overdraft and not gone over it for the fees etc.
When is your payday, the reason i ask is that we try and say to remove all money just after payday as the account may be frozen and you will need living expenses money until the next payday.
Hope that helps.
Jo x
Wishing you all a Happy Debt & Worry Free 2009
21 Weeks down
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For more info on how i have come through bankruptcy and for links to help, you can read my blog here called: Needafriend's Info on Bankruptcy :-) http://debtfreejo.blogs.bankruptcyhelp.org.uk/ Needafriend says: Live life to the full, take life by the horns and live a little, otherwise life would be so boring!
