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TomMan
Starting Member
United Kingdom
2 Posts |
 Posted - 18 March 2011 : 12:11:03
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Hiya all. Due to debts getting really on top of me, a year ago I went on to an IVA but I lost my job about 5-6months ago and my IVA is closing the IVA agreement due to not being able to pay the payment so I think BR will be my only option.
It's something I've never done before and never thought I would be but I feel I have to.
I've got a few questions and would really appreciate the help so thank you for reading and hopefully answering.
Are bank accounts only frozen if there connected to the debts?
Are there any options or schemes for paying the BR costs over a few months because I don't think I can afford it all in one go?
What's the best way to apply for BR? though a company or direct through court?
Thank you so much for reading |
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Melanie.n
forum expert
United Kingdom
1282 Posts |
Posted - 18 March 2011 : 12:40:50
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Hello there and welcome to the forum
Sorry to hear your IVA was not the solution you had hoped it would be
with regard to bank accounts, you list all accounts linked to any of your creditors, but you do not have to list a basic account unlinked to any of your creditors, you should have opened one such as this when you started your IVA? if that is the case you can continue to operate the account, and when you have your telephone chat with the OR you can let them know the additional account details. That way you do not have the problem of the account being frozen, which would happen if it was listed on the forms. (it would get unfrozen but this can take up to 5 working days)
With regard to how to file for bankruptcy - this can be done yourself, there is no need to use an assit company, just ring your local county court and ask for the bankruptcy clerk, and request a pack to be sent to you to enable you to file for bankruptcy.
Unfortunately there is no scheme to pay the fees over a prescribed period - the fees have to be paid in one go on the date you attend court to file your petition (you can book this when requesting the forms, or wait until you have gathered the funds together and then book)
Are you working? if so the fees will be £600, if not you mayy be eligible for a reduction to £450 (proof of benefits etc would be required)
Hope this helps
Melanie
Melanie Nicholas
30 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
email me at melanienicholas@jonesgiles.co.uk
telephone 01792 899996
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TomMan
Starting Member
United Kingdom
2 Posts |
Posted - 18 March 2011 : 13:20:02
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| Thank you so much for the reply. The only benefits I get are housing benefits. Because my wife works part time we get some working tax credits |
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Considering BR
