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daisyw
Starting Member
United Kingdom
33 Posts |
 Posted - 27 November 2008 : 22:54:23
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Hi, well my husband and I have made the decicion to go BR (not much choice really, just had to get our heads round it!) and have started to fill in the forms online. Just wanted to clear up a couple of points please...
Should we stop paying our DMP now, if not when is the best time?
How long from submitting the forms is it likely to take before we are made BR?
What else should we be doing in respect to mobile contracts, changing bank accounts, getting house valuations? Or will the OR tell us what to do after we are BR?
Am a bit concerned about the freezing of the bank account as our mortgage and secured loan DD's out of it and we are going to continue to pay these so we can stay in the house, whats the best plan of action?
Thanks very much.x |
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debtrider
Junior Member
494 Posts |
Posted - 28 November 2008 : 00:18:35
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hello daisyw
Phew lot of questions to answer here in one go. I went bankrupt on October 20th so I will try and tell what I did, and everything seems to have worked out fine for me. In saying this I did have the expert help of Paul Johns of Reviva UK.
I stopped paying my creditors around 5 months before going bankrupt, so if you were thinking of going bankrupt in the next 3 months I see no point in continuing with your DMP, so I would stop it now.
If you need your mobile phone contracts and want to keep your same numbers, then I would continue paying them and include them under telephone costs in your SOA.
If you are not with a bankrupt friendly bank or have debts with your current bank then close it down right now and open a new bank account. I opened a co-op cashminder account before I went bankrupt and everything is still OK.
Get a valuation on your house for a quick sale to get the lowest valuation possible.
I am sure the experts will be able to throw more light on this, as I have only given you a brief idea of what I would do, through my experience so far.
All the best
Debtrider
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 28 November 2008 : 07:14:48
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Hi Daisy & Welcome
I would also do as Debtrider has suggested, stop paying all creditors apart from utilities and essential living costs now if your going to go bankrupt in about the 3 months. That way you can save for the fee etc.
Also continue with you mobiles and make sure you pay them, this should not be classed as preferential.
Open a new basic account asap and then get all your essential DD's etc over to this one and make sure your wages etc are paid in here before you declare BR. I would go with the Coop Cashminder as they seem to be the bank of the moment and very BR friendly.
Any questions on the statement of affairs please do ask and we will do our best to help you.
When are you thinking of going BR?
Jo
x
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
Needafriend says: Live life to the full, take life by the horns and live a little, otherwise life would be so boring!
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daisyw
Starting Member
United Kingdom
33 Posts |
Posted - 28 November 2008 : 17:46:51
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| Thats so helpful, thanks. I have started filling in the forms so a soon as they are complete do I just submit them then print them off for signing? Not too sure of the process or how long it will take? Will stop paying the DMP then asap. I have a Pay-as-you-go mobile but my husband has a contract which he will change as soon as it it up. Any idea where is best to get a valuation from? Thanks again.x |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 28 November 2008 : 18:10:59
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Hi Daisy
Have you made an appt for your hearing. You do need to contact the court and find out how they allow appts to be made as some do a turn up service, others you book.
The forms you submit once you know you have finished and then print off, check with the court how many copies yoyu need as some say 1 some say 3.
You will need the fee x 2 so £495 each in cash when you go to court, and the form which you are completing online, that is all you need to take to the court, dont sign anything until the clerk has checked it all at the court.
For the house i got estate agents round just before and explained that for the time being i wanted a valuation just as an idea, and as i forget can they put it in writing.
You can pay for a valuation either online or say through compmanies like Allied.
Hope this also helps. :-)
Jo
x
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
Needafriend says: Live life to the full, take life by the horns and live a little, otherwise life would be so boring!
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Plan of action before submitting forms?
