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lazyeejay
Starting Member
United Kingdom
5 Posts |
 Posted - 31 January 2010 : 00:36:24
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Firstly a bit worried about bankruptcy but cannot see any other option. Here are a few questions.
1. I work in Cash In Transit, handling money, would bankruptcy affect my current employment?
2. I heard that my account would be controlled? If I left the account active but had my wages paid into a family members account, how would that work? If that was not an option, how would I be able to access my wages if the account is frozen?
3. Would my ex partner need to go bankrupt so she would not be liable for the loan or as she is on benefits would that not be required?
4. I am paying a family member back through a S/O for money given to my ex and myself when we bought our house, I understand I would need to declare this but would he still receive his money or would it be written off. I am concerned he would lose out.
5. I am planning on moving in with my new partner of 1 year. She owns her own home and is on a high salary, if I were to move in, would my application be affected by that factor?
I appreciate there are a few questions but this really is a last resort for me. I have tried in vain to arrange a compromise with the companies and despite phone calls, letters and emails, begging and pleading, no-one wants to help. I have been so stressed this last year and have tried so hard but have come to the conclusion this is my only option left.
Thank you in advance. |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 31 January 2010 : 09:38:21
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Hi,
1. More than likely but check your employment contract. A lot of employers won't employee BR people in Finance or other areas where they deal with cash while they are BR.
2. Any non-basic bank accounts would be closed. You can have a basic bank account like the Co-op Cashminder that a lot of people on this board use and have your wages paid into that account.
3. Any joint loans would revert to the other party if you were to declare BR. If your ex-partner was the joint party in the loans then the creditors would pursue her for the repayment regardless of whether she was on benefits or not.
4. You should list your family member as a creditor and they would be treated the same as your other creditors. If you have more than £99 disposable income (DI) after paying rent, food, utility bills, etc. then you would have to pay some of this money to the OR each month. The OR would disperse this money to each creditor on a pro-rata basis.
5. No, BR only affects the person who declares BR and not the address or anyone they live with. |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 31 January 2010 : 12:09:55
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Hi Jason
getting out of debt has covered all of your questions and as ever agree with what he is saying.
just before you make the final plunge to elect to go for BR, make a contact with one of the experts to the left, they may have an option B !
may be worth a phone call, if they can help you to keep your job
regards Richard |
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lazyeejay
Starting Member
United Kingdom
5 Posts |
Posted - 31 January 2010 : 13:41:05
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| Thank you so much for your helpful advice, I really am grateful. I will no doubt have other questions along the way but I have had more help on here in a day than I have in the last year. I will keep you and other members posted on how I get on. J |
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Firstly a bit worried about bankruptcy
