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| grant59 |
Posted - 11 May 2009 : 19:50:13
Hi,
I am unemployed and can't afford the fee for bankruptcy. Is there any other way around this? I have now run out of money and will default for the first time on my halifax loans and credit card what should I do I am so worried
Thanks
Grant |
| 5 L A T E S T R E P L I E S (Newest First) |
| Melanie.n |
Posted - 21 May 2009 : 08:01:55
Your are personally responsible for ALL debts in your sole name and debts in your joint name.
If your wife does not go banktupt she is still liable for any jointly held debts.
She is not liable for any debts in your sole name (even if she had been issued a credit card on your account - only you are liable for the whole of the credit card balance)
She is liable for any overdraft on any joint bank account held but NOT liable for any loans issed by that bank that in your sole name.
Hope this clarifies things for you
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
email me at melanienicholas@jonesgiles.co.uk
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| grant59 |
Posted - 20 May 2009 : 20:51:00
quote:
Originally posted by Melanie.n
Hi there only you are liable for the acredit card account, as it is in your name with her only issued an additional card. This is not the same with a joint bank account if you hold one of these you will both be liable for the whole amount.
With regard to the 'utility provider' If you have an utility such as water/electricity/gas account in your name you may be able to get a 'voucher' if on a low/no income from your local Citizens Advice Bureau, though you will have to ask them specifically for this as it is not advertised.
If you are in receipt of JSA you may be entitled to not having to pay the Court fee of £150 but will have to pay the OR's fee of £360. When you receive the 'pack' from your local court, of forms to enable you to file for bankruptcy there is a form included with the pack which lets you know what benefits etc enable you to have the fees reduced
Hope this helps
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
email me at melanienicholas@jonesgiles.co.uk
Thanks Melanie, however i am a little confused you say only myself will be liable for the CC which is only right but my wife does share a joint account which is our current account which I have taken out two loans which I will be defaulting on soon because I lost my job, but my wife had nothing to do with the loans and she never agreed or signed anything to say otherwise, (she only just found out).
So the CC is actually in both our names because she got one in her name the same time I got mine although I think it was me who was the primary account holder.
I am so worried that she will be dragged into all this when it was all my doing, I had up until recently an horrendous gambling habbit which was the reason for the loans and huge CC bill.
I am becoming more anxious by the day, and know that if this falls on my partner i will be forced to leave the family home. I am at present trying to fill in the huge forms online.
Any advise hugely appreciated
Many Thanks
Grant |
| Melanie.n |
Posted - 20 May 2009 : 09:48:03
Hi there only you are liable for the acredit card account, as it is in your name with her only issued an additional card. This is not the same with a joint bank account if you hold one of these you will both be liable for the whole amount.
With regard to the 'utility provider' If you have an utility such as water/electricity/gas account in your name you may be able to get a 'voucher' if on a low/no income from your local Citizens Advice Bureau, though you will have to ask them specifically for this as it is not advertised.
If you are in receipt of JSA you may be entitled to not having to pay the Court fee of £150 but will have to pay the OR's fee of £360. When you receive the 'pack' from your local court, of forms to enable you to file for bankruptcy there is a form included with the pack which lets you know what benefits etc enable you to have the fees reduced
Hope this helps
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
email me at melanienicholas@jonesgiles.co.uk
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| grant59 |
Posted - 19 May 2009 : 20:57:55
quote:
Originally posted by John
Hi
if your debts are over £15000 then bankruptcy could be the answer. If you have been a member of the armed forces you may qualify for assistance with the fees from them.
Alternatively your utility provider may have a fund that can help. Check these out first. If you have no luck then it will take one of your creditors to petition for your bankruptcy thus saving you the fees. However this may cost up to £2K so you would need to owe double that sum to a single creditor for that same creditor to take the initiative.
If you owe in total less than £15K then make an appointment with CAB and research the possibility of applying for a Debt Relief Order. The effect is the same as in bankruptcy but the fee is £90.
John White
England Jackman & Spacey
Thanks John,
Pardon me for being so stupid but whi do you mean (utility provider)? Also I owe 0ver 15k on my credit card and I share a joint account with my wife, although she has never used the CC will she become liable even though I am going to declare bankcrupct myself?
Many Thanks |
| John |
Posted - 11 May 2009 : 23:41:08
Hi
if your debts are over £15000 then bankruptcy could be the answer. If you have been a member of the armed forces you may qualify for assistance with the fees from them.
Alternatively your utility provider may have a fund that can help. Check these out first. If you have no luck then it will take one of your creditors to petition for your bankruptcy thus saving you the fees. However this may cost up to £2K so you would need to owe double that sum to a single creditor for that same creditor to take the initiative.
If you owe in total less than £15K then make an appointment with CAB and research the possibility of applying for a Debt Relief Order. The effect is the same as in bankruptcy but the fee is £90.
John White
England Jackman & Spacey |
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