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CreoleDeeDee
Starting Member
United Kingdom
3 Posts |
 Posted - 20 January 2014 : 13:40:54
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| Good afternoon, I have been thinking & reading about declaring myself bankrupt for a long while now, as I dont have any way to repay debts I owe. Example of debts are Water Rates, National Insurance, HMRC. Council Tax debt too but Ive had an arrangement with them for 2 years, & havent defaulted on that. I have 2 credit card debts outstanding from years ago, not able to make payments. Im self-employed and due to less work coming in for the last 3 years, Im really struggling. Im on WFTC just been told theyve overpaid me, & I will have to repay from April. As said Im really struggling. Whats also really worrying me is as Im self-employed/get occasional work, without a bank account (I understand if I declare bankrupt I cant have a bank account) then, how will clients pay me? I have a trading name (Im a sole trader, not registered as a limited company, its a community arts organisation I hire freelance artistes to work with me as & when needed). Clients pay me via cheque or BACS into account in my trading name. How will I be able to receive work payments (as irregular as they are!) without an account? I deliver workshops for schools, museums etc these kind of places, and I am aware theyre not happy to pay individuals, always want an organisation name. If you can advise me on this Id be grateful. Feel as if I cant think straight at the moment, really worried about not being able to pay debts and after bankruptcy, struggling due to not having a business account/account in organisation name. Also, Im a Housing Asscociation tenant I am behind with my rent was taken to court, Possession granted to Association but they were fine to accept an arrangement regarding repayment of rent owed, & I have been sticking to this. But if Im declared bankrupt Im afraid theyll become angry at rent debt being written off, and I will lose my home. Anyway - any advice you can offer would be really appreciated. Thank you. |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 20 January 2014 : 14:04:17
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Hi and welcome to the forum.
You can have a bank account when you're bankrupt. You need to sort it out prior to court.
I really think you need to chat all of this through with an expert as it sounds like everything has spiralled out of control and you need all your options explained.
Have you visited the CAB? Or you could chat to someone on here.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 20 January 2014 : 14:04:18
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Hi and welcome to the forum.
You can have a bank account if you are bankrupt and even if a high street one turns you down then you can get paid for ones where you can pay cheques into. If your normal account isn't one of your creditors then the OR can say they have no interest in it and it remains open as long as the bank are happy to do so.
I would suggest that you have a chat with an expert - the advice is free and they will be able to answer your questions.
If you click on the experts link on the left hand side of the page you will find a couple you can contact
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
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CreoleDeeDee
Starting Member
United Kingdom
3 Posts |
Posted - 22 January 2014 : 09:47:46
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Thank you Viki & Niobe, replies much appreciated. I am going to 'break down' my (long & rambling!) question and speak to an expert, as you suggest. It is good to know there's advice available out there, I had been looking through some website but am confused with some issues. Im glad I found this forum. Thanks again |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 22 January 2014 : 10:05:43
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Good luck and glad we were able to help. Let us know how you get on and we're here for any advice you may need.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
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| bankruptcyhelp.org.uk Forum |
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If I can't have a bank account, how will clients pay me as they are not happy to pay individuals ?
