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Carl.47
Starting Member
2 Posts |
 Posted - 24 July 2011 : 23:34:55
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Hello - I am a 66 year old male and i have received a bankcruptcy notice for the sum of nearly £96.000 pounds from the inland revenue to be heard in 4 weeks times in London.
I am receipt of pension credit (although i work a few hours a week) and i live in private rent and also claim housing benefit.
What happens after the hearing, do i have to actually attend as i live in the east midlands.
Will i be able to keep my car or will they take it, it is used for work and i carry Pos materials etc for the stores i work in.
If i am made bankrupt is this the end of it or will i have to pay the OR monies out of my pension credit/wages etc.
I really have no idea as to what to do next.
Could someone please advise me.
Kind Regards
carl. |
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debtinfo
forum expert
2826 Posts |
Posted - 25 July 2011 : 18:04:01
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you dont need to attend if you dont oppose it, but a letter to the court saying that would be helpfull
The OR will decide if the car is exempt or not, it depends on the need for the vehicle and the value of it
You may have to make payments for up to 3 years, it depends on your surplu funds which is your income less any reasonable expenses |
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Blackie
forum expert
United Kingdom
565 Posts |
Posted - 28 July 2011 : 07:15:47
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Hi Carl.47
I am sorry that you have been served with a Bankruptcy petition from Inland Revenue and you do not need to attend court unless you intend to challenge the petition. Once you have been made bankrupt, your case will be passed to the Official Receiver, who is the government administrator in charge of your bankruptcy affairs, local to where you live. You will be sent forms to complete about your aseets, income and expenditure.
If your car is worth over £2000 the OR might take an interest in it. However you need it for work which may be a mitigating circumstance to keep it. You live in rented property so there is nothing to worry about there. If you have disposable income ie. money left over after your bills and living costs have been paid, you would be expected to pay this over to the OR.
Hope this helps but do come back if you need further advice.
John Blackadder
Bankruptcy365
For help and advice on the easiest and most effective way to a debt free future, please go to www.bankruptcy365.co.uk. |
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Bigal4787
forum expert
United Kingdom
641 Posts |
Posted - 28 July 2011 : 18:05:22
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Hi Carl47,
As others have said,if you don't oppose the petition then there is no need for you to attend, but a letter to the court saying so would be helpful.
Once the order is made, the case will be transferred to your local OR (official receiver) office,who will then send out a letter to you inviting you to attend a face to face interview with an insolvency examiner from that office. There is nothing to worry about, they are non judgemental, and try to make the interview less stressful.
The letter will include an A4 sized green questionnaire called a PIQ(preliminary information questionnaire), and other documents for you to complete, try and complete the PIQ as fully as possible prior to attendance as the examiner cannot help you complete it.
The other thing you can do is to call the OR's office when you get the letter(it will have a number on it for the case clerk that is dealing with your case), as they will be able to answer any questions you may have, if they can't you can always ask here!
Big Al
Insolvency examiner with the Insolvency service from April 2008 - July 2010.
If you need help completing SOA's(statement of affairs) or PIQ's(preliminary information questionnaire) if you've been declared bankrupt, or anything else and you're within 30 miles or so of Warrington, then please contact me via my contact details in the expert page for futher details"
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Hello - Have received BR notice. I really have no idea what to do
