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lost hope
Starting Member
United Kingdom
28 Posts |
 Posted - 28 December 2009 : 23:23:54
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thanks housing, it has not been a decision i have rushed into!!i have been thinking it over from day one... and very seriously for the last 4months!
yes is the private sector however i have a guarentor?
im completely up to date with my rent, and all my bills it is just debt i have got from years ago!
o dear... is it possible they wont want me as a tenant if im bankrupt?
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 29 December 2009 : 07:29:53
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If you are renting then the OR will want to check that your rental payments are up to date. Sometimes they contact the landlord to check this. In my case I provided the OR with a copy of my rental agreement and they could see from my bank statements that the rent had been paid each month so didn't bother contacting the landlord.
You should check your rental agreement to see if there is a BR clause as some landlords don't allow BRs to rent their accommodation. This is more the case with rental agencies rather than private landlords.
You may also have problems if you need to rent a new place while you are BR. Again, rental agencies are not keen and normally carry out credit checks. You may be ok if you have 6 months deposit but not many people have this amount of money when they are BR. Private landlords don't normally carry out credit checks so these are the type of properties that people rent when they are looking to declare BR. |
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lost hope
Starting Member
United Kingdom
28 Posts |
Posted - 29 December 2009 : 11:16:51
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thanks for all ur replies once again!! :)
i have arranged my date for later this month to petition for bankrupsy they dont need the letter to confirm iva failing, the OR will look in to this in more detail!...just a few questions on this....when you go to court..how long after will it be your account gets frozen?how long will this be for?what happens to any money in the account?(i wont have a lot but whats in there is for direct debits!?)
how do they decide if you need to make the payments through out bankrupsy?and when will i know if my car is safe!?
ahhh im sorry for all the questions just in panic mode now!!:( |
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debtinfo
forum expert
2826 Posts |
Posted - 29 December 2009 : 11:38:44
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quote:
Originally posted by lost hope
thanks for all ur replies once again!! :)
i have arranged my date for later this month to petition for bankrupsy they dont need the letter to confirm iva failing, the OR will look in to this in more detail!...just a few questions on this....when you go to court..how long after will it be your account gets frozen?how long will this be for?what happens to any money in the account?(i wont have a lot but whats in there is for direct debits!?)
how do they decide if you need to make the payments through out bankrupsy?and when will i know if my car is safe!?
ahhh im sorry for all the questions just in panic mode now!!:(
Wow thats a lot of questions
When yo first speak to the Official Receiver (OR) within a few days of court they will ask you if you have an account which is in credit that you use for day to day expenses, you give then the details and as long as there is not an excessive amount (ie more than you earn each month) they will write to the bank asking that it not be frozen. However it is the banks decision if they want you as a customer or not so people often change their account to a co-op or barclays which are known to be bankrupt friendly. a word of warning though if you have money in a bank account and owe the same bank money on the day of the bankruptcy order they can take your money and set it off against the debt, so be carefull where you leave your money.
They look at all of your income and expenditure and decide what is reasonable, what is left is your surplus. If your surplus is more than £99pm they will take a proportion (50-70%)of the whole amount for up to 3 years, the remaining part is yours to do with as you wish.
You will not know definitly if your car is safe until about 6-8 weeks after the order, you may keep on using it in the mean time.
hope that helps, feel free to ask more
try and do an income expenditure list and people can comment on what they think will be allowed or not
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 29 December 2009 : 15:24:53
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You can ask about your car when you speak to the OR - when the examiner called me the following day I asked her if I could keep it and she confirmed that I could. I then got a letter of exemption a couple of weeks later.
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/
30 IPA payments made, 6 to go - the end is in sight! |
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need overall help and a shoulder to cry on
