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cathp
Junior Member
178 Posts |
 Posted - 16 August 2008 : 18:51:49
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My Daughter will be starting uni in September, so we have recently purchased items for this eg: laptop (not an expensive one only £299) plus as she is taking a Bsc in outdoor activities...such as rock climbing, kayaking, downhill mountain biking...she also has wet suits, dry suit(which we have only just purchased too), kayak,climbing gear, mountain bike. All are necessary but will have added to our debt over the last 2 - 3 years in some way.
If we now go bankrupt, will they take these as assets, or class the latest purchases as misconduct being so close to our petition?
I'm not that worried about our belongings, but for her to continue with her life choice she needs this equipment.
Thanks for any advice
Cath |
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John
New Member
United Kingdom
73 Posts |
Posted - 16 August 2008 : 18:58:47
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Hi
the items would be safe but the more recent purchases, depending on how much was spent and when, could be looked at.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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cathp
Junior Member
178 Posts |
Posted - 16 August 2008 : 19:18:09
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Hi John,
The Dry-suit was bought about two weeks ago, when the weather became more inclement,as whether or not she's going to uni she is still a paddler!
The laptop was ordered yesterday when her exam results arrived in the post and we knew for sure she'd be going to uni.
thanks
Cath |
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John
New Member
United Kingdom
73 Posts |
Posted - 16 August 2008 : 20:19:02
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Hi
when were you planning to go BR?
www.Bankruptcyhelp.org.uk
0800 078 9367 |
Edited by - John on 16 August 2008 20:19:18 |
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cathp
Junior Member
178 Posts |
Posted - 18 August 2008 : 21:40:51
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It looks as though it's going to be late september maybe even October, as I was hoping to hold out until my daughter is settled in Uni and my son in college...but if I'm honest I feel like I'm muddling through all this by myself, the only good advice I've had has been on this forum!!
Is there a plan one should follow when becomming BR?
I must admit it seemed to me that you just filled in the forms and made an appointment with the court at a date to suit you.
At this point I haven't defaulted on any bills, but that's only because the credit card is taking up the slack. In September our benefits will be reduced dramitically, so I had thought that once I had all the figures of income and outgoings that this would be a good time??
Help!!
Cath |
Edited by - cathp on 18 August 2008 21:52:25 |
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John
New Member
United Kingdom
73 Posts |
Posted - 18 August 2008 : 22:12:16
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Hi cath
I think you're right, once the benefits have reduced that would be the time.
If you can, stop using the card as of now and stop paying the creditors.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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cathp
Junior Member
178 Posts |
Posted - 18 August 2008 : 22:29:16
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Hiya again John,
I can see how I can stop paying my one credit card..currently my only lifeline..but my other credit card and loans are with my bank and this is were my benefits are paid into.There are Direct Debits set up for all of these.
Also by creditors do you mean our loans and credit cards, or everything,e.g. electric/gas, water rates etc.?As we have Direct Debits for everything.
I must admit as being a person who hates even owing anything this is all making me feel very uncomfortable!!Even though I know I have to do it!
If we cancelled our Direct Debits what do we say to creditors?
Also won't people like utilities cut us off?
Cath |
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John
New Member
United Kingdom
73 Posts |
Posted - 18 August 2008 : 23:28:20
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Hi
you should keep paying the utilities as they are priority debts and of course you need to continue to receive their services.
What to do about the bank account situation would depend on how long it may be before you intend to declare yourself bankrupt.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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Misconduct
