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T O P I C R E V I E W
pwally2
Posted - 24 April 2012 : 09:18:13 Just some questions am considering my options at the moment considering IVA or bankruptcy route. Have total debts of £33,000 with my wife (about £18k mine £13K hers) joint income about £3300 expenses are about £3260 give or take.
Have a few questions:
If we were to go bankrupt I have a company car and am responsible for petrol which I then claim a month in arrears does this have to be shown as an income on bankruptcy forms?
Where do i stand on tax postion again re the company car as I understand it I would be a NT tax code do I have to make the car tax payments to Mooonbeaver
Where would we stand on our house? Current mortgage with the "lovely" NRAM(Northern Rock) is in negative equity due to charging order re unsecured element of mortgage I understand this cant be included in bankrupty?
Also I have an attachemnt of earnings for an unsecured debt would I be right in saying that this would be included in bankrupty and hence no longer payable.
I am sure I will have loads more questions thanks in advance for the replies.
2 L A T E S T R E P L I E S (Newest First)
Melanie.n
Posted - 24 April 2012 : 11:47:07 Hi there as Viki suggests it would be better for you to speak to one of the experts here on the forum to go through all you options and concerns with you. We can be contacted via the 'experts' button on the left hand side of the screeen, scroll down and our individual contact details are available - we are all happy to help to you and advice is free!
Melanie
Melanie Nicholas CertDR 30+years insolvency experience - 23 of which in the Insolvency Service and the past 8 years with a number of IP firms.
If I can be of any help to you in any way or answer any queries, concerns or worries you may have, or with completing the forms for bankruptcy, please do not hesitate to get in touch -I can be contacted via the experts tab
Viki.W
Posted - 24 April 2012 : 09:39:59 Hi,
Your car situation can all be explained on your forms and at your OR meeting.
The unsecured element of your mortgage will be included in bankruptcy, have they put a charge on the property? Usually the together loan is unsecured.
The AOE debt will be included in your bankruptcy if it's a provable debt.
I suggest you speak to an expert on here to chat through your options.
