| T O P I C R E V I E W |
| chick1983 |
Posted - 02 April 2009 : 15:19:53
Hi all,
I currently owe 40k, and pay 147 per month towards my debts through paypal (debt management company).
I haven't work since 2007 when my maternity leave finished and have been using my tax credits/child benefit to pay my fee. My partner covers everything else as he works full time.
My partner has now said that we cannot keep going like this and I have arrange for all tax credits/child benefit to be paid into his account. All bills (direct debts) that come out of my account are paid by my partner putting money into my account.
As I have no income and due to the amount I owe many people have said I'd be better off declaring myself bankrupt.
I would like more information on what will happen. Alot of things bill wise, i.e BT, Sky, Water, Council tax, Contract mobile are all in my name, what happens with regards to them?
Thanks |
| 15 L A T E S T R E P L I E S (Newest First) |
| John |
Posted - 04 April 2009 : 21:29:16
Hi
another issue being if you list SKY / BT / Mobile contracts as creditors on your SoA when you would prefer to keep these things going, then I would assume any future payment is preferential.
Either they are a creditor or they're not.
Best to leave them out unless you want them to cease.
John White
England Jackman & Spacey |
| Skippy |
Posted - 04 April 2009 : 20:35:23
I had a contract with Vodafone (still have it) and I never listed it as I didn't owe them any money and as I wanted to keep the contract I didn't want them informed of the BR.
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/
22 IPA payments made, 14 to go - on the home straight! |
| Jane.l |
Posted - 04 April 2009 : 12:13:33
yes, we did not have Sky but we had BT and Vodafone contracts and car insurance, I did not put them as a creditor, just a monthly expenditure, and the OR never informed the companies so I didn't and we have just continued to pay them monthly as before |
| John |
Posted - 04 April 2009 : 12:04:37
Hi
whilst I see where sjbyron is coming from in that to list Sky and BT confirms they will be included if each supplier refuses to continue I'm with jane on this one if your preference is to continue the Sky and BT accounts if they allow (which I'm sure they will).
If either were to terminate your agreement your verbal request to the OR to add these as creditors later would be perfectly acceptable to him and definitely included in your BR as the contracts were taken out before the date of bankruptcy.
To include them from the start may just prompt contact from the OR that otherwise may not have been made at all.
John White
England Jackman & Spacey |
| Jane.l |
Posted - 04 April 2009 : 11:35:11
I did not put these companies in the unsecured creditor section, I just listed them on the I&E as a monthly expenditure and did not tell them I was bankrupt |
| sjbyron |
Posted - 04 April 2009 : 11:10:20
Hi
I would put Sky BT and TMobile on your unsecured creditors as balance of 0, and would detail on your reason for bankruptcy that these accounts are still open and the companies havent given a decision of whether they will allow you to keep the account or not. That way it wont look odd to the OR at the time of BR.
Stu J Byron |
| chester2005 |
Posted - 03 April 2009 : 20:57:17
Yes i would open a cashminder account , you will have to declare it on your forms but when you go BR tell the OR you need the COOP account for your benefits and the chances are so long as you don't owe the COOP anything the OR will say he hasn't got any interest in it.
As long as Sky etc will be happy to carry on providing a service to you when BR and you don't owe them they should be no problem.
If they did cancel any contracts after BR and wanted paying for the full term you could declare it to the OR then and say you forgot about it and didn't owe them at the time.
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman)
Life's too short!!! |
| sjbyron |
Posted - 03 April 2009 : 19:45:30
Hi
I would stop money going in from your account from your partner.
Benefits can be used to calculate an IPA, they used mine (SSP) and I didnt get one.
Why dont you open a joint cashminder with your partner?
Detail the reason why you are changing accounts on your SoA
Declare the tax credits as your income.
Best of luck
Stu J Byron |
| chick1983 |
Posted - 03 April 2009 : 10:00:21
So action plan is (is this right?!)
1. Open cash mider account and re arrnage all direct debts, and move as many as possible into partners name.
2. Only give details of accounts that I owe money too, don't include Sky, BT etc?
3. Save the money to declare!
|
| maizie |
Posted - 03 April 2009 : 09:15:00
Just so that you know I am with T-Mobile, I didn't let them know about my bankruptcy, either did my OR. Whether that was because I never owed them anything and I have always been on time with my payments.
I have had no problems in keeping my t-mobile account, in fact I received an upgrade on Monday with no problems.
Maizie |
| chester2005 |
Posted - 03 April 2009 : 00:32:41
The OR will likely want to see bank statements from any accounts you have had in the last 12 months.
Benefits alone are not classed as an income as such and cannot be used solely to calculate an IPA
Direct debits for things that you don't want to be without may satisfy the individual companies but some could still cancel contracts etc most of the time there is small print that allows them to.
This is only if they find out though and not all companies are bothered anyway.
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.
Life's too short!!! |
| chick1983 |
Posted - 02 April 2009 : 23:16:13
Would the best thing to be arrange direct debts for everything into partners name and coming out his account so I have £0 income and no money coming and going in and out my account??? THen set up a cash account then declare?
Will they class tax credits/child benefit as an income as it is jointy in mine and my partners name but now paid to him?
|
| chick1983 |
Posted - 02 April 2009 : 23:12:31
My partner is not linked to me, I think the only thing that is in joint names is our council tenancy and council tax. Things like sky and bt were taken in my name because he has poor credit, but he pays for them. All tax credits etc that were being paid to me have just been changed and are noe made into his bank account, so I am £0 income. I have asked bt and they can arrange direct debts to be changed into my partners name but the account has to stay in my name unless i want to cancel the agreement and be charged a fee, i explainned what i was planning on doing but they said it doesnt change anything. havent asked sky as we have only been with them a few months but that is also comes out my account and in my name soley! |
| sjbyron |
Posted - 02 April 2009 : 22:14:02
Hi
it depends on your outgoings, if they are seen as extravagent then the OR will suggest lower amounts as backed by the insolvency service.
Onething that the OR may look at is Sky Television, if this is not at the basic package, he may suggest this, likewise for BT.
Is your partner financially linked to you, do you have any joint debts, personally if you have no income then I would state income is £0, and would leave out everything else if your partner is not a joint or linked to your finances.
Could you swap your contracts with Sky, BT and TMobile over to your partners name, and stop your partner paying into your account. This would help you case, I would think
Best of luck
Stu J Byron |
| chester2005 |
Posted - 02 April 2009 : 21:53:25
If you have no disposable income DI or less than £99 per month then the OR will not expect you to pay anything towards your debts and no IPA income payment agreement
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.
Life's too short!!! |
