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| Kacey |
Posted - 12 October 2008 : 22:03:35
Can anyone tell me what actually happends when you file bankruptcy. For instance how long it takes for them to makeyouleave your home? when they take over your bank account where can you go to get your pay deposited? How difficult is it to get somewhere to rent? Will the Recievr leave you with enough to live on , pay first and last month rent? |
| 2 L A T E S T R E P L I E S (Newest First) |
| Needafriend |
Posted - 23 October 2008 : 13:48:51
Hi Kacey and welcome
I would as BankruptC has suggested have a read through the old posts on here, but remember that sometimes you have your own questions about it that somehow the old posts really dont answer your own thoughts and queries, so that said when that happens post them on here and we will all help you out and get you the answers that we can.
Take care and keep on reading and posting.
Take Care
Jo x
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Needafriends Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
| BankruptC |
Posted - 12 October 2008 : 22:21:56
Hi Kacey and welcome to the forum!
A good place to start is to have a read over lots of old posts and you will begin to learn how the process works.
In the meantime though, I've copied and pasted your questions with my replies below.
Can anyone tell me what actually happends when you file bankruptcy. For instance how long it takes for them to makeyouleave your home?
If your home has equity, and the OR decides to force a sale, I believe they will usually give you around 12 months to find somewhere to live.
when they take over your bank account where can you go to get your pay deposited?
You can open a basic bank account with the co-op (very popular on here), or some other banks do them too if co-op is one of your creditors. These accounts still allow direct debits etc and offer an electron cashcard.
How difficult is it to get somewhere to rent?
It depends really on a few things. Lots of people move into rented accomodation prior to BR to avoid the problem of having BR on their credit file at the time the checks are done. By providing a guarantor or several months' rent in advance, however, or by choosing a private landlord who will not do a credit check as opposed to a lettings agent, many people have managed to secure a rental property post BR.
Will the Recievr leave you with enough to live on , pay first and last month rent?
The OR will allow you basic living expenses, which are quite realistic. You will need to save for your advance rent and deposit, and BR fees etc, however, prior to BR usually. People tend to do this by stopping paying their creditors once they have made the decision to go BR.
I hope that's helped you somewhat.
Keep posting.
Take care,
C. x |
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