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cindoboy
Starting Member
18 Posts |
 Posted - 07 December 2008 : 14:08:25
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I had decided to go bankrupt as I was made redundant 2 years ogo and could not find another job. It now seems that I job may be around the corner and I am now confused. As I have £60K of debt I still think bankruptcy is the better choice.
The question is would it be better to go bankrupt before starting the new job or wait until after. I don't want the new company being told I have gone bankrupt just after starting a new job. The other things is would I still have to set up an IPA after the bankruptcy as being on JSA means I would not get one at the moment. Also it may be more difficult to rent a place in London if I was already bankrupt.
I also would have to still rent my place here in Manchester and also rent a bedsit in London (where the new job is) and wanted to know if anyone thinks I would be allowed to put rental of 2 places on an IPA.
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 07 December 2008 : 14:14:41
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Hi and welcome
Its a tricky one this, you could go bankrupt before but like you have said you need to find somewhere to live etc and at the moment you would not be subject to an IPA, but if you take the job, then sort yourself out with a home etc if your still finding the payments on your debts difficult you could try and maybe look at a DMP or an IVA.
Im not sure if you can technically put the rental down for 2 places, ultimately that would be down to the OR.
Jo
x
18 Weeks down 
34 to go 
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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cindoboy
Starting Member
18 Posts |
Posted - 07 December 2008 : 14:26:22
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It has certainly changed things and also I have a car on HP and was hoping to get rid of that att he same time as I owe more that it is worth just about. That way I could get a cheaper one and not have that hanging around as well.
quote:
Originally posted by Needafriend
Hi and welcome
Its a tricky one this, you could go bankrupt before but like you have said you need to find somewhere to live etc and at the moment you would not be subject to an IPA, but if you take the job, then sort yourself out with a home etc if your still finding the payments on your debts difficult you could try and maybe look at a DMP or an IVA.
Im not sure if you can technically put the rental down for 2 places, ultimately that would be down to the OR.
Jo
x
18 Weeks down
34 to go
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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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 07 December 2008 : 15:57:08
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Hi Cindoboy and welcome to the forum.
The timing of the BR is irrelevant as you have a duty to inform the OR of any change in your personal circumstances as soon as they happen, so your new employer will find out anyway. Best to be upfront with them about your situation.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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New Job Pending, Please Advise
