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gav
Junior Member
184 Posts |
 Posted - 15 March 2008 : 20:14:41
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i am currently self employed but have no proof of income.Can i still file for bankruptsy??
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 15 March 2008 : 20:22:13
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Hi Gav
You need to identify your debts on the statement of affairs for Br. You will also need to complete the income & expenditure . this is so the official receiver can identify if you will be able to make a contribution towards your debts.
You obviously have an idea what you make on a monthly basis and your bank account will be used to confirm these details
How much money do you owe and do you have any assets?
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
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gav
Junior Member
184 Posts |
Posted - 15 March 2008 : 21:46:58
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| dont have any assests, and as we are at the moment,not every weeks wage goes into the bank as it is a case of first come first serve for bills, food etc. currently been helping my old boss would it help if i received confirmation from him how much i have been getting. |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 15 March 2008 : 21:54:19
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yes that would help
but a word of caution. there is almost no point in going Br until you are sure you can meet your minimum monthly requirements from income.
I have seem a judge before refuse to make someone Br because he could see that the person would be in debt within 30 days
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
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Helpful Advice
Average Member
United Kingdom
646 Posts |
Posted - 16 March 2008 : 11:46:04
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Hi Gav,
Welcome to the forum,
Bankruptcy works slightly different for thos who are self employed.
You will need to file an income and expenditure to show what your average earnings were the year prior to your bankruptcy as per your return to the tax office from that period, you must include any other income i.e. tax credits child tax credits, income support or housing benefit as well.
You will then have to file a six month set of accounts to the OR from the date at which you declared yourself bankrupt they will decide form this point whether there is a lump some Income Payment Order or not.
Hope this Helps
View my Blogs at:
http://HelpfulAdvice.blogs.bankruptcyhelp.org.uk/
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
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gav
Junior Member
184 Posts |
Posted - 16 March 2008 : 17:21:16
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| i have been in touch with a firm (not mention name) but they went through outgoings and incomes and we are atleast £600 down each month,as i have no proof of income would you recommend signing on dole? or trying to find a paid job? |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 16 March 2008 : 20:10:22
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Hi Gav
Think that decision is up to you but you need to understand that if your outgoings are 600 more than your income it won't be very long before you are in debt again.
The only way to change the situation is to either increase your income or reduce your expenditure .
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
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Helpful Advice
Average Member
United Kingdom
646 Posts |
Posted - 17 March 2008 : 14:49:42
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Hi Gav,
With an income of your level I think you would not have an entitlement for Job seekers alowance, however have a chat with someone at your local, council offices as you mey have an entitlment for housing benefit which will help, also are you claiming working and child tax credits as this can also contribute towards your income.
Once you have sorted your income then you will be in the correct possition to concider bankruptcy
View my Blogs at:
http://HelpfulAdvice.blogs.bankruptcyhelp.org.uk/
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
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self employed but have no proof of income
