| Author |
 Topic  |
|
|
wokingpostie
Junior Member
United Kingdom
171 Posts |
 Posted - 19 June 2008 : 23:20:03
|
we have two loans with lloyds tsb totalling £35,000. We were told by the citizens advice bureau that bankruptcy was the only option for us as we have £148 free a month after expenditure. we have an appointment to apply for bankruptcy on 4th july but the payment for the loans comes out on 28th june and we cant afford to make the repayments.
do we need to do as we cannot afford to pay them? We bank with them and both our wages and benefits go into the account. we have been told that the bank can take the money out. if they do this we cant afford to live and feed our newborn baby. what do we tell the bank while we're waiting to put the application in?
I just wondered on regards to the court fees what happens as i cant afford the costs? i know british gas can help but we have to pay almost £1000 in fees. would that be reduced since i get maternity benefit and child tax credits? my husband is currently off sick due to stress, panic attacks and worry and gets no benefits. is there anything that can be done to help us?
|
Edited by - wokingpostie on 19 June 2008 23:21:22 |
|
|
debtfreesusie67
Junior Member
256 Posts |
Posted - 19 June 2008 : 23:34:06
|
Hi workingpostie
Welcome to the forum you've come to the right place for help and advice. It might be and idea to open a new account with The Co-op and have benefits and wages paid in there. The account you want is called a basic account. It has internet banking and an electron card. If there is not enough time to have the wages etc changed over then I would take the funds out as soon as they are paid into the lloyds. Contact all the important people that you make payments to ie gas electic council tax rent/mortgage and make alternative arrangements to pay, just until your new account is set up. Most people have missed payments for loans and credit card companies by the time they go banktupt so I would cancel the dd.
An expert will be around later or tomorrow morning to offer more advice
Hugs
Sue
The only way is up
|
Edited by - debtfreesusie67 on 19 June 2008 23:36:21 |
 |
|
|
Suzanne
Average Member
United Kingdom
869 Posts |
Posted - 20 June 2008 : 09:15:21
|
Hi wokingpostie
If it is your intention to petition for bankrutpcy you should cancel any direct debits you have for loans etc immediately. It would be seen as perfectly acceptable that you missed several repayments if necessary prior to petitioning. Many people do this in order to save for the petitioning costs.
debtfreesusie67 is right in the suggestion that you open a new bank account elsewhere, and try to get wages etc paid into this.
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
|
|
|
|
JulianDonnelly
Junior Member
United Kingdom
325 Posts |
|
|
wokingpostie
Junior Member
United Kingdom
171 Posts |
Posted - 21 June 2008 : 07:49:13
|
HI
I currently receive maternity benefit and child tax credits. Would i be able to get a discount on the fees?
Im having such a stressful time as i hardly have the money to live let alone pay the fee.
does the appointment with the court give you time to save the money up or is it payable in installments?
please help im desperate
|
|
|
|
m and v
Average Member
United Kingdom
760 Posts |
Posted - 21 June 2008 : 10:24:37
|
Hi wokingpostie - you'll need to pay the court fee on the day you go to court. Ring your nearest one and find out if they have a booking system or whether you just turn up on the day.
You can then decide when is best for you to go.
My appt was two weeks ahead but if you need more time either book it further ahead or wait a little longer. The court staff will be fine with that.
As the others have said - cancel any DDs to creditors
It'll soon be over - being debt free will make a big difference.
Take care
Vicki x |
|
|
|
melanie_giles
Senior Member
1191 Posts |
Posted - 21 June 2008 : 11:12:51
|
I don't think you do get the discounted price if you are on maternity leave, but it might be an idea to ring your local Court and check.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
|
|
|
JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 21 June 2008 : 13:44:07
|
Hi Wokingpostie,
If you are on income support, you can qualify for a reduction of £150. As Vicki says, best to stop paying your creditors and use that money for the court fee. They will be on the phone chasing for money, but you just have to be strong with the knowledge the debt will be written off in your BR.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
|
|
| |
Topic |
|
we cant afford to live and feed our newborn baby
