|
|
 |
 |
FORUM |
|
> Browse and post on our forum |
|
|
|
 |
|
 |
|
Note: You must be registered in order to post a reply.
To register, click here. Registration is FREE!
|
| T O P I C R E V I E W |
| digman |
Posted - 12 September 2008 : 07:47:54
Could anybody please advise on the following ;
On the SOA do you include child benefit in the household income section ?
When you are listing bank account held do you include kids savings accounts where the account is in an adults name re the child .
If in arrears on mortgage & secured loan would it be advisable to inform the companyies concerned prior to BR to arrange a repayment schedule for the arrears or is it wiser to contact straight after BR ?
Is it advisable to inform them at all prior to BR ??
Would appreciate any views , THanks in anticipation ... |
| 8 L A T E S T R E P L I E S (Newest First) |
| JulianDonnelly |
Posted - 12 September 2008 : 17:25:43
Glad to help!
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
| digman |
Posted - 12 September 2008 : 17:24:40
OK , thanks Julian |
| JulianDonnelly |
Posted - 12 September 2008 : 17:21:12
Hi Digman,
If your BR is imminent, then advising everyone is not a bad idea ... some of them may even leave you alone!
NR is unlikely to divert payments. I have had a case before where my client was told their systems do not allow this.
If you are planning to go BR early October, the creditors can't do anything in time. It would be a minimum of 14 days to get a CCJ, and they can't go for enforcement action (ie bailiffs etc) for a further 28 days.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
| digman |
Posted - 12 September 2008 : 16:23:08
Thanks for your continued advice Julian . Can you perhaps advise on the question i asked of Jo in the same thread as well please ?? Also would you advise me telling the mortgage company i intend to go BR but hopefully will continue with the payments . We have a Northern Rock Together Mortgage which as im sure you are aware is a combination of secured & unsecured borrowing in the same repayment . Can i ask them to divert any payment i make towards the secured aspect and not the unsecured aspect ? Sorry , soooo many questions . Also how long does it take if a creditor says they are planning legal action to it becoming a court issue ? I ask this as we are planning BR first week in october just after all essential DD have been paid and wages have gone into bank . Christ i bet you are thinking i should not have looked at this one ! LOL ! |
| JulianDonnelly |
Posted - 12 September 2008 : 16:15:08
Hi Digman,
As you are planning to keep the property, you can deal with this outside of the BR. However, if you are in arrears, I would suggest sooner rather than later.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
| digman |
Posted - 12 September 2008 : 15:56:43
Thanks Jo & Julian for your thoughts and advice .
To Jo , Did you put on your SoA the amount of your regular monthly payment to your mortgage/secured loan and then inform the OR after you had spoken to the Mortgage company that the amount would be different to that which you put down due to arrears ?
To Julian , YES , hopefully we are looking to keep the property ( for the sake of my marriage we better ! ) . We are in neg equity to the tune of approx £35000 . |
| JulianDonnelly |
Posted - 12 September 2008 : 12:22:21
Hi Digman,
Child benefit should be included on the income section of the SOA (ensure you differentiate that from your regular income).
List all the accounts, but ensure you make the OR aware (on the SOA and at the interview) that these are savings accounts for your children so they are left alone.
Secured lending is excluded from BR, so that can be dealt with entirely seperately. Are you looking to keep the property?
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
| Needafriend |
Posted - 12 September 2008 : 09:23:30
Hi Digman
I included the CB in the SoA but the value was not included in the income by the OR.
As for kids accounts no they are not anything to do with your bankruptcy, i think, better check with one of the other experts but i would have thought if you do have to write it in then it should be exempt as the account was opened by you on behalf of your children.
My mortgage company i called the day of my BR and informed them that we had gone BR but i also then made arrangments to pay back the 2 months arrears that we had. R u going to go into rented now?
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/ |
|
|
| bankruptcyhelp.org.uk Forum |
© bankruptcyhelp |
 |
|
|
|
|
 |
|
|
|
|
|
