| T O P I C R E V I E W |
| tracy_b |
Posted - 28 August 2008 : 18:11:03
do you have to have personal visits when going bankrupt or is everything done over the phone. also do you have to attend court. can you be jointly BR with your partner and how long does it take. |
| 5 L A T E S T R E P L I E S (Newest First) |
| Reviva UK |
Posted - 28 August 2008 : 21:32:59
Hi Tracy
if the savings are in the childrens names then they are effectively theirs and not yours and as such will be exempt from the bankruptcy. Please see below for additional note.
Council house means that the home is safe and clearly if the car is a company car then this too is safe.
Worth checking with your employment contract for any issues with being Br.
( NOTE ; if the official receiver can demonstrate that you have made a regular significant monthly payment into the savings ( sav £200 pm by standing order ) and only stopped doing this last week then they may well frown on this and this may be a grey area. )
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
| tracy_b |
Posted - 28 August 2008 : 21:18:13
Hi,
Kids savings are in thier own name. We have no assets. council house and car supplied and paid for by DLA. |
| Reviva UK |
Posted - 28 August 2008 : 21:14:20
Hi
are the childrens savings in their own name or does the account have your name on it?
you would certainly loose the ISA, however you will be able to utilise some of this for the court fees and if appropriate you have the luxury of employing someone to assist you.
It is important that whatever you do you must keep VERY CAREFUL records of these assets because the official receiver will need exact and justified information on whatever you use of these funds.
Do you have any other assets that need to be considered as well such as property or cars?
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
| tracy_b |
Posted - 28 August 2008 : 19:47:00
Thanks for the info.
I live in Hastings which does have its own County Court if that throws any light.
I also wanted to know if childrens savings are taken into account in BR. My eldest who is 19 has 10k saved over the years towards uni and my youngest who is 17 has 3K again towards uni. Also me and hubby have 6K in an fixed isa which i know we have to declare but should we take it out now and offer between the creditors. Unfortunately it goes not even a tenth of what we owe.
Cheers for your help. Tracy |
| Reviva UK |
Posted - 28 August 2008 : 18:51:18
Hi there
to go bankrupt you need to complete the appropriate court forms ( about 30 pages ) which can be obtained from the local court, downloaded from the insolvency web page or you can complete the forms online .
once you have completed them ( fully ) you need to make an appointment at your local court and attend with the completed documents plus the court fee ( £495 in cash - £ 507 in London )
Depending upon the procedure in the local court will depend upon whether you see a judge or not and whether you have a telephone comversation with the Official receiver on the day or within a week or so.
I have copied the link straight to the oficial receivers web page where there is a handbook on some of the basic questions.
I would recommend you call your local court and ask them what procedures you follow - or let us know here which city you live in and we can advise from there.
http://www.insolvency.gov.uk/guidanceleaflets/guides.htm#1
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
