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| gpm |
Posted - 13 February 2009 : 14:13:03
Hi Guys,
Well i have set a date (3rd April) for bankrupcy, due to recent changes with my main debit the pressure has been released.
I owe a mortgage shortfall of £33,000 which they have just got an attachment of earnings for for the sum of £50 per month as long as my wages do not drop under £1,440 a month. Which if was paid every month would take me until i was 94 to pay?!
Anyway my question, i have recently changed the home and contents insurance and one of the questions was is there anyone in the household been made/or in the process of bankrupcy? I declared myself as in the process as i have now set a date. I'm sure i have seen if the sum is less than £500 you do not have to tell them?
Also because i have booked the date after 1st April why/how does this effect my tax?
Kind Regards
Gary |
| 7 L A T E S T R E P L I E S (Newest First) |
| Skippy |
Posted - 15 February 2009 : 14:20:07
John is right about the NT code - you won't get one going BR that close to the end of the financial year.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
20 IPA payments made, 16 to go - on the home straight! |
| John |
Posted - 14 February 2009 : 11:17:49
Hi
yes the attachment of earnings will cease because the mrtgage shortfall of 1998 will be written off in bankruptcy.
Re the NT tax code.
I am no accountant, probably why I went bankrupt, but I think the tax years starts April 5 or 6 each year. If that is the case and you declare on April 3 then you won't get an NT tax code as it only lasts for the current tax year in which you petition.
timendi causa est nescire
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| RHB |
Posted - 14 February 2009 : 10:57:52
Does the attachment to earnings get voided when you are BR then? |
| gpm |
Posted - 14 February 2009 : 08:45:56
I lost the house in 1998!! Must of spent 3 years from the last 8 arguing with them. They were always trying to figure out at what point they could get the most money from me, dirty tactics too, claiming to be the DWP to get my address.
Gary |
| got there |
Posted - 13 February 2009 : 21:11:44
Hi gpm, how long ago did they sell your house and how long has it taken them to obtain an attachment of earning for it?
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| gpm |
Posted - 13 February 2009 : 21:08:12
Thx Jan, is there a downfall to a nil tax code? |
| Niobe |
Posted - 13 February 2009 : 14:25:30
Hi gpm.
Can't help you with the insurance question I'm afraid.
With the other one, I think that as you are so close to the end of the tax year, you might get away with not having a nil tax code.
One of the experts will be along shortly to advise further.
The glimmer gets brighter all the time
Jan
xx |
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