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| BankruptC |
Posted - 10 September 2008 : 00:12:52
Hi all,
I'm hoping you can help with one final question before the big day tomorrow!!
Hubby's pay goes in tomorrow and we can't get to it in time before we go BR (bank opens at 9:30). We HAVE to get the money out to live off etc. Will we be allowed to take the necessary money out tomorrow afternoon after speaking to the OR (or even before)??
I think we may have screwed up big style here. Is there any way round this or is it simply not allowed?
HELP!!!!!!!!!
CG. x |
| 8 L A T E S T R E P L I E S (Newest First) |
| Needafriend |
Posted - 10 September 2008 : 12:34:32
I agree maizie
I would not panic CG you have done the right thing, hope all went well for you.
Jo x
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
For links to help with Bankruptcy, useful web pages and also a run down of my new debt free life, both before and after Bankruptcy, then please visit my blog:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
| maizie |
Posted - 10 September 2008 : 12:31:03
C.G.
Hope today went well. Was thinking of you.
Please read....
http://www.bankruptcyhelp.org.uk/forum/topic.asp?whichpage=1&TOPIC_ID=2833#12384 this post before you start to panic!!! xx
Maizie |
| pix1 |
Posted - 10 September 2008 : 12:02:17
C.G.
Please check your Terms & Conditions of Employment before going ahead with your proposed bankruptcy as your local authority employer might be forced to terminate your employment. |
| pix1 |
Posted - 10 September 2008 : 11:59:07
URGENT!
Please check your Terms & Conditions of Employment before going ahead with your proposed bankruptcy!
I believe you are working for a local authority?
From what I can find out a local authority might terminate your employment if you go bankrupt.
I strongly advise delaying this until you can check out this situation and decide if it is the right course of action to take.
please could someone else in the forum give a seoncd opinion on this.
please see this link;
http://www.theiva.co.uk/what-bankruptcy.html
I tsays, inter lia, the following;
What Does it Mean?
Once you have been declared bankrupt there are several consequences that can be detrimental to your financial situation for several years. The person declared bankrupt loses control of all of his or her assets and can not get credit for over £250. The person declared bankrupt is also banned from taking on certain roles. For example the person declared bankrupt cannot act as Company Director. He or she may not act as a member of parliament.  He or she is not allowed to work for a local authority and may not work as a lawyer or accountant. The person declared bankrupt should be able to be discharged after a year however the bankruptcy is still noted on your credit record and creditors will not look kindly on it. It may be that you will struggle to obtain any credit for several years to follow. |
| pix1 |
Posted - 10 September 2008 : 11:46:10
Hello Cg,
Please don't worry about that. Just be sure to accurately state what is in the relevant account at the moment you sign the form. You will have entered your incomings and outgoings on your petition and so the OR will be expecting that pay will be entering your bank account. It is merely a coincidence that your pay day is the BR date. As long as your pay is used to pay for things in accordance with your income and expenditure as stated there will be no problem. By the way, the OR will not routinely freeze a bank account. Perhaps if there was £100,000 in it they might! But, normally, you will continue to be able to use it. N.B. Once the OR informs the Bank of your BR the bank will close the account and return to you a cheque with the remaining balance IF BR is against the T& C's of your account. Ideally, you sohuld open a coop cashminder or a nationwide basic account asap if you haven't already (preferably in person to avoid confusion as to your status). If you don't explain it sometimes they will decline you as they accidentally tried to open the wrong type of account. |
| Needafriend |
Posted - 10 September 2008 : 07:51:29
Hi CG
I cant see it being a problem, if you get a call like we did straight after the hearing just inform the OR and that should be that.
You still have to live for the month, so i think you will be absolutely fine.
Good luck.
Jo x
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
For links to help with Bankruptcy, useful web pages and also a run down of my new debt free life, both before and after Bankruptcy, then please visit my blog:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
| dazed and confused |
Posted - 10 September 2008 : 00:19:19
Yes good luck for tomorrow!
I am sure it will be fine! |
| zamfir |
Posted - 10 September 2008 : 00:16:24
Hi CG, I went BR on the 7th and got paid on the 8th. Both the Court Clerk and OR agreed that I can take the whole amount, as it's needed for living expenses.
Hope this helps, and good luck for tomorrow x |
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