| T O P I C R E V I E W |
| Mayurua |
Posted - 28 February 2017 : 18:11:00
Hi
I've read in several places that while preparing for bankruptcy I should hold enough cash back to cover me while bankruptcy goes through . At the same time I feel this could be against the rules is there a suggested amount that I am allowed to withdraw and keep to tide me over
Hope I've put this in right place mant thanks
Dave
Dave |
| 4 L A T E S T R E P L I E S (Newest First) |
| Lisa Thomas |
Posted - 10 March 2017 : 09:20:42
My understanding is you can now make payments on account towards the bankruptcy costs via the bankruptcy portal
https://www.gov.uk/bankruptcy/overview
you have to take care with building up too much cash as it could be seen as an asset and siezed. If you can show you need some funds for living expenses this should be allowed but it depends on what sort of sums you are talking about.
Effectively if you are making the decision to go Bankrupt you need to stop paying creditors and start the application process.
Contact me on 01752 786800 or Lisa@nevilleco.co.uk |
| Niobe |
Posted - 02 March 2017 : 18:44:25
When are you looking at declaring? Once that is done the OR will sort out your finances with you.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
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| Mayurua |
Posted - 02 March 2017 : 18:37:57
Thanks for response
So what sort of period of time should I aim to keep enough cash for
Dave |
| Niobe |
Posted - 01 March 2017 : 08:38:25
Hi and welcome,
You should just keep enough for the essentials such as energy bills, rent, food etc. You also need the fees as well.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
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