All Forums  New Questions  Forum Questions  Panicking about Bankruptcy still!

Note: You must be registered in order to post a reply.
To register, click here. Registration is FREE!

Screensize: 640 x 480 800 x 600 1024 x 768 1280 x 1024 UserName: Password: Format Mode: Basic  Help  Prompt  Format: Font Andale Mono Arial Arial Black Book Antiqua Century Gothic Comic Sans MS Courier New Georgia Impact Lucida Console Script MT Bold Stencil Tahoma Times New Roman Trebuchet MS Verdana   Size 1 2 3 4 5 6   Color Black Red Yellow Pink Green Orange Purple Blue Beige Brown Teal Navy Maroon LimeGreen Message: * HTML is OFF * Forum Code is ON Smilies [quote][i]Originally posted by paulgm_2000[/i] [br]Sorry for all the questions again but I really need to know where I stand as I keep getting conflicting information from different soruces. If someone can help that would be great! 1. I was originally advised by two separate bankruptcy experts NOT to put any bank accounts I have on the forms that I do NOT owe money to. i.e. only list banks who I owe to. National debt line told me to list everything but they will close down these accounts and I'll have to change where my wages are paid into for the short term. If I don't put the accounts on the forms is there anyway they might found out about them and thus impose restrictions? 2. I have listed all 3 businesses I have been a director of over the last five years. Will the OR ask for full accounts and bank statements from all of these companies? I was informed by an expert that the OR will not be interested in Limited Companies given they are a separate legal entity. I'm pretty sure I don't have the full accounts due to the failure of my hard drive last year. 3. I've been really worried about getting a BRO/BRU as I have been advised I may have shown preference over creditors. For around six months leading up to March this year myself and my girlfriend were looking after her terminally ill father who sadly died in March. We spent much of our time helping him and had to take time off work(girlfriend had about two months off mainly un paid). Around this time we were struggling given our reduced income and I was given £2000 by my grand parents to put towards our wedding next year. I was in an IVA at the time but as we were struggling to live over those months I had no choice whatsoever but to use the money for household expenses and money was transferred to my girlfriends account to cover these costs.(she pays the bills). Plus I hadn't paid any rent to her or her father for months. Do you think the OR will have an issue with this? 4. Most of my debts are from a limited company of mine that went out of business three and a half years ago (April 2007) and have stated this on the forms. They include personal credit cards, loans, etc. I tried very hard to save the business and therefore pay back creditors. I had another business at the time to fall back on but had to enter into a DMP for 18 months then i've been in an IVA for the last 2 years. Last year my other company went out of business and I was unfortunately a personal guarantor on the Commercial Premises lease(£3100 arrears), Business Overdraft(£4000 arrears), Equipment Lease Contract(£2500 arrears approx). I worked incredibly hard to save this business but got into trouble when much of my equipment was damaged when refurbishing the premises. Would the OR see this as an issue as I got into more debt outside of an IVA agreement? I have also had another limited company over the last 18 months or so which has just ceased trading with no debts. 5. I have all of my accounts/debts and everything else official registered at my mum and dads address(also the business address). I was living between there and my girlfriends last year and have slowly moved into her house over that year. i.e. not really any concrete address. On the forms I have now decided to put my girlfriends address as I pay a small rent and contribute to her bills. National Debt line kept changing their mind on what's the best address to put down. My small rent is paid to my girlfriends' sister who owns the house we live in 50-50 with my girlfriend(no mortgage). She lives elsewhere so my girlfriend thought it prudent for me to pay her a small rent for living in her part of her house. Any issues here? 5. Do you know roughly how long it will take for the OR to complete their investigations? As I don't know how long I can handle the stress for. I'm not sure if my situation is complicated or not for an OR. I have no assets except for a cheap car. There is around £1000-£1200 left in the company account which I will withdraw £600 for the bankruptcy fees and hundred or so to live on. What should I do with the remaining money in the account? Should I write this on the forms too? I currently have a part time job which is not really covering all my costs properly but I'm just about able to manage as my girlfriend is letting me off with some costs. I'm due to petition my own bankruptcy monday morning as I'm want to get this sorted. If anyone can help and put my mind at rest I would be very grateful. Many thanks Paul [/quote]   Check here to include your profile signature. Check here to subscribe to this topic.