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kentmikey
New Member
61 Posts |
 Posted - 23 June 2010 : 20:49:24
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Hi, me again, we have set in to place a plan to save the money required to go Bankrupt and hope to have these funds in September, however, I have some other questions:
1. Will this affect my Wife's role as treasurer of a local drama group
2. The three year payment order, I have read is deducted direct from our salary, is this correct?
3. As we are both going BR, I assume there would be two payment orders? If so, how are these calculated, generally speaking, I pay the rent and bills from my income with my Wife paying food and anything else from her income.
4. How often is a payment order reviewed?
5. There are three catalogues which are in my Step Son's name, although we have had goods from and therefore make the monthly payments, how is this looked on in Bankruptcy as obviously we don't want our step son getting a black mark.
6. We have already opened a Co-op account with also provides us with a debit card, obviously we have no overdraft or credit facility on this account, I did check with Co-op when it was opened that in the event we become BR would it still be ok for us to have, the Co-Op confirmed verbally this would be ok but will this be frozen once we have submitted the BR forms and then unfrozen or will this just be looked over?
Thanks everyone
Mikey |
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debtinfo
forum expert
2826 Posts |
Posted - 23 June 2010 : 20:57:51
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1. Would be down to the terms of her contract
2. Not if you co-operate
3. They split the whole of the joint household outgoings pr rata according to your income. This is deducted from your salary, then they deduct any personal expenditure, what is left is your surplus, Depnding on its size the OR will take between 50 and 70% of the surplus if the surplus is over £100pm
4. When anything changes
5. They are not included in the Bankrupty, he needs to keep paying them.
6. You tell the OR hen you forst speak to them that you use this account and most of the time it is never frozen |
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kentmikey
New Member
61 Posts |
Posted - 24 June 2010 : 08:21:07
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Thank you. In respect of the catalogues, as I understand from my Wife, most of the items on their are necessities we have had to get so we pay for things we have ordered. I am concerned on how the OR will view us continuing to make these payments.
Mikey |
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Questions prior to BR
