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Becs
Starting Member
United Kingdom
44 Posts |
 Posted - 28 January 2009 : 12:57:29
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Hello All!
Just re-registered after a few years of burying my head in the sand .... (it just felt so comfortable at the time!).
Wishing I'd had the strength to get things sorted sooner, but hey, guess we've all been there 
FINALLY got my act together and made a BR appointment for the 10th Feb. Feels a bit scary still though!
A couple of questions,
1. I have already had my old bank on the phone today about my O/D facility having gone over the agreed limit, I have set up a new account with Co-op (Cashminder) and re-set all my priority D/Ds with them, also I have arranged for my salary to be paid into my new account on Friday. I know there is some conflicting advice about doing this pre-BR, but I was panicking about my rent being paid out on time. Anyway, my question is; should I have told Natwest that I am about to go BR? I just said I would go into the branch and put some cash in to cover the shortfall. But if I did this would I be paying a creditor, when I shouldn't be? And secondly on the day before my BR apointment should I withdraw any remaining cash from the Co-op account, or leave it there and hope the account is not frozen, or is only frozen for a few hours?
2. Do I now not pay any of my debts and if contacted say I have a BR appointment on the 10th Feb?
3. Should I still pay my Student Loan (I am confused about this and BR)?
4. I have a joint mortgage with an ex who knows about my pending BR and will go down that route himself at a later stage. The property is in neg equity and we tried to hand the keys back to the building society last November but they re-arranged a half payment until March with my ex who still lives there. As this is clearly not currently an asset will the shortfall be included as part of the BR even if it cannot be sold within the 12 months of the BR?
5. Any advice from anyone on what to put in the 'Reasons you are in debt' section of the statement of affairs?
6. Will the OR request sale of CD's and DVD's and musical instruments?
Sorry for the long post ... am feeling really positive, but so so scared it'll go belly up and I find myself in a worse position than i am now!
Oh and I wrote my car off yesterday, so off work nursing many cuts and bruises but feel lucky to be alive, which I think has prompted this 'getting it sorted' urge I am feeling today! (Car is through work, so not an asset ... well not an asset to anyone except scrap metal merchants at present!).
Thanks!
Becs |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 29 January 2009 : 12:14:15
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Hi Becs and welcome to the forum.
1. The decision to freeze accounts is at the bank manager's discretion. However, the Co-Op do seem to be the most BR-friendly bank out there and a lot of people have reported back to say that a discussion with their manager prior to BR has resulted in the account being left open.
2. If you are going BR in a couple of weeks, I would suggest you may as well stop paying your creditors now. As long as they don't already have a CCJ against you, they won't be able to take any action quick enough.
3. if your student loan is through the Student Loans Company, it is exempt from BR so you will need to continue paying this even after BR.
4. Make the OR aware of the situation, so any future shortfall can be retrospectively written off in your BR.
5. Honesty is the best policy, so tell the truth!
6. No. Just list assets in section 3 as "general household goods worth £250".
Hope this helps!
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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Becs
Starting Member
United Kingdom
44 Posts |
Posted - 29 January 2009 : 12:56:23
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Gosh thanks so much Julian, much appreciated.
I don't have any CCJ's so will not pay anything now to creditors.
I'll ring Co-op and explain the situation and see what happens, fingers crossed.
Will the OR come to my home to list any assets in the property?
I can't see a BR clause in my tenancy agreement, but feel morally obliged to talk to the landlady before the OR contacts them, is that advisable? I rent through an estate agents but do have contact with the land lady more frequently.
Anyway, thanks so much again for your response to my question!
Becs |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 29 January 2009 : 12:59:37
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Hi Becs,
I have never heard of a case whereby anyone visits your home following BR, so you'll be fine!
If you get on well with your landlord, a discreet conversation prior to BR is often viewed as a courtesy which is well received.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 29 January 2009 : 16:57:12
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The only reason I've heard of the OR visiting someone's home is because they were a business based at home and they had a large amount of cash at home.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
18 IPA payments to go! |
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Becs
Starting Member
United Kingdom
44 Posts |
Posted - 03 February 2009 : 09:19:13
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Hi there
I'm so sorry for the delayed reply .... BT suspended my broadband for non-payment of bill, even though its been paid by D/D! Ironic considering what's on the horizon! They really are an absolute joke that company! I've had SOOO many problems with them I can't tell you.
But that's anothre story!
Thanks so much for your reply. I had been led to believe that following the BR hearing you are escorted back to your address where an inventory is taken of all your property! Its crazy the amount of innacurate information there is out there.
Week today is the big day and I'm slowly but surely working my way through the paperwork and trying to pull together the £495, which is proving to be a bit of a nightmare.
I'm finding my new frugal life somewhat liberating, and its really making me realise how careless I have been with money until now.
Anyway, thanks again .... will prob be back with some more questions soon!
Becs |
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leahk
Junior Member
117 Posts |
Posted - 03 February 2009 : 09:27:06
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Hi Becs,
I'm at the same point as you, just I have 2 weeks to go!
Know what you mean about liberating - Its nice to use real money, not just seeing it go in bank via internet and then straight back out via DD! lol |
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Becs
Starting Member
United Kingdom
44 Posts |
Posted - 03 February 2009 : 09:41:30
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Hi leahk!
Absolutely .... real money ... what a buzz!
Although I keep withdrawing cash for the BR fee and hiding it in a biscuit tin ... I'm turning into my grandmother!
Having another frustrating morning trying to get through to the Child Tax Credits line to change my bank details ... have tried for a week solid now and is either engaged or I'm on hold for hours! They are still paying it into my old account .. so it will never be seen again. Natwest are currently charging me £30 a day for being £2.21 over my overdraft limit .. bless em.
Sorry ... keep going off on a tangent.
So how have you found it so far? Have you completed the paperwork yet?
Becs |
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leahk
Junior Member
117 Posts |
Posted - 03 February 2009 : 11:09:31
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Hi Becs,
According to the online form I am 57% complete! I frantically read every post and comment on here about I&E. The paperwork is giving me as many nightmares as the debt!
And I can't even attempt to phone CTC till I get new account details!
Ps Don't worry about tangents, I go on so many if you drew a picture it'd look like branches on a tree!
Best Wishes
Leah |
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Hello, any advice re BR would be fab! Thanks :-)
