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dave
Starting Member
United Kingdom
13 Posts |
 Posted - 31 January 2009 : 14:14:53
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| Hi all, can I ask what the forum thinks about paid advisors? I have ha da quick look at the forms and then started banging my head on the table! Would I be better off going to CAB or employing one of the advisors who advertise on the sites? Has anyone had experience of these guys, (good or bad? Thanks,Dave |
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go_4_broke
Junior Member
221 Posts |
Posted - 31 January 2009 : 15:01:04
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Hi Dave,
You should never have to pay for advice, even from someone who operates on a commercial basis - what you should pay for is 'doing stuff'.
Whats more difficult is to get truly unbiased advice. Most people who operate on a commercial basis will have a 'product' of some kind to sell and will inevitably tend to focus on that product, or products.
For truly unbiased advice from someone who has nothing to sell your best bet is probably CAB, but their ability to 'do stuff' will be limited.
Best Regards, Simon
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GUSS
Starting Member
United Kingdom
23 Posts |
Posted - 31 January 2009 : 15:26:40
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Hi Dave
Like jo said paul johns at reviva; paul
dealt with all our forms-creditors-ect
and was with us at the court we went b/r
21st jan. It took all the stress away ,as
i had my illness to cope with on top
We did go through c.a.b first,but they cant
help you fill in the forms only check
them. Having paul do ours was right for us
depends on your circumstances.we can only
speak as we find.
good luck take care guss
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 31 January 2009 : 15:39:24
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I think there is a place for assisted bankruptcy firms like Reviva, but not for certain other companies who charge thousands just for completing the forms.
To be honest unless you have health issues or a complicated case I'd save the money and do it yourself with support from a friend or partner.
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/
20 IPA payments made, 16 to go - on the home straight! |
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coxy
New Member
United Kingdom
63 Posts |
Posted - 31 January 2009 : 15:54:57
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HI DAVE
We go br on monday and have just paid someone to do forms that was before we found this site though.
Had we found this site earlier i would have done our own forms, there is a load of advice & information on this site and if youre not sure of something someone will come up with the answer. |
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sjbyron
Average Member
United Kingdom
746 Posts |
Posted - 31 January 2009 : 16:25:49
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Again as others have said, I would recommend Paul too, he really helped when I had problems with my car and I was trying to surrender it, he is calm, non-judgemental and a great listener, would defo recommend him
Best of luck
Stu J Byron |
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lindsay
Starting Member
4 Posts |
Posted - 31 January 2009 : 16:30:20
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Hi There,
Is there a chance of me being bankrupt and not knowing about it?
i Applied for an online bank account and it came back i was bankrup even though i have never been to court? |
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dave
Starting Member
United Kingdom
13 Posts |
Posted - 31 January 2009 : 16:36:28
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| Thanks you guys. What a great and supportive forum this is. I am thinking of Br after april 5th to complete tax year neat and tidy so have time to browse site and look for answers but will definatley speak to Paul Johns/Riviva. Thanks again. Hope it will be ok to keep coming back for more advice. regards, Dave |
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lindsay
Starting Member
4 Posts |
Posted - 31 January 2009 : 16:39:16
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Thank you Jo x i just did and it came up with nothing for my name or my married name.
I just dont understand why the bank would come back and say that?
im so confused now x |
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lindsay
Starting Member
4 Posts |
Posted - 31 January 2009 : 16:43:12
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Jo,
Thank you i will try |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 31 January 2009 : 18:10:05
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Dave, if you go BR after the new tax year has started you will get a nil tax code IPA. This means that you won't pay any tax to HMRC, it will all be paid for you and you will pay it over to the OR. This will last for the whole tax year that you are made BR, unless you change jobs in that time, in which case it will revert to normal.
If you were to go BR this tax year, this is very unlikely to happen as the closer it gets to the end of the tax year the less time HMRC have to get around to implementing the change.
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/
20 IPA payments made, 16 to go - on the home straight! |
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John
New Member
United Kingdom
73 Posts |
Posted - 31 January 2009 : 18:18:36
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Hi skippy
it will work differently for Dave as he is not PAYE so only pays once a year anyway, if any tax is due of course. If the OR then claims it the HMRC have to pass it across, if not HMRC will keep it. Assuming that a payment is indeed due then it's sort of irrelevant to the self employed when you petition and very different to the employed and monthly paid where the petition date does have an impact on whether or not an NT IPA is imposed and the bankrupt becomes involved in the process of tax payments being redirected to the trustee. |
Edited by - John on 31 January 2009 18:18:54 |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 31 January 2009 : 18:32:40
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Sorry, I missed that bit 
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/
20 IPA payments made, 16 to go - on the home straight! |
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dave
Starting Member
United Kingdom
13 Posts |
Posted - 31 January 2009 : 18:54:30
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| hi guys, what is an 'IPA'please? also a'BRU' and 'BRO'? Re tax, I have made a loss for last three years so no tax due unless I make over 100k this year (not going to happen!). I also understand some 'orders' are sometimes made dependant on why you go bankrupt. My reason is cant et at equity as ex-wife still in house in Italy, rest of debt due to business failings. Where will I stand re this please? any ideas? thanks, Dave. |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 31 January 2009 : 19:09:12
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IPA = Income Payment Agreement. If you have more than £100 surplus each month you would be expected to pay 50-70% into an IPA, depending on how much you have.
If you don't agree to an IPA the Official Receiver can apply to the court for an Income Payment Order (IPO), which is enforced by the court.
BRU = Bankruptcy Restriction Undertaking. If the OR feels that you have been reckless they can extend the restrictions of BR for up to 15 year, depending on the seriousness.
BRO = Bankruptcy Restriction Order. If you don't agree to an BRU the OR can apply to the court for an BRO, which is generally longer, but no longer than 15 years.
I'm sorry but I can't help you regarding the house, but I'm sure someone will be able to soon x
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/
20 IPA payments made, 16 to go - on the home straight! |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 31 January 2009 : 19:10:02
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You beat me too it Jo!
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/
20 IPA payments made, 16 to go - on the home straight! |
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Topic |
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Bankruptcy Advisors
