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paul51
Junior Member
United Kingdom
187 Posts |
 Posted - 18 February 2009 : 18:58:27
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My stepson declared himself bankrupt today and was given an appointment for a telephone interview on 06/03/09.He has been quite full of himself about doing this but having lived tried to tell him that there may be restrictions on him ie he pays his car insurance monthly with norwich union thats a credit agreement of sorts.would he have to cancel that.also he drew out all his money from his think banking account.will the receiver want that money or want to know where it went.Finally do i need to check with experian to see that he is now not linked financally with my wife and I as we dont wantthat.and what can I do about that.
Will he also find it hard to now rent a property as he is moving to a new job in may in gloucester and will need accomodation.
If anybody could tell me what he can expect at that telephone interview I would be grateful |
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jurgenpie
Starting Member
United Kingdom
30 Posts |
Posted - 18 February 2009 : 19:56:29
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I withdrew all my money needlessly as had a cash account with co-op did declare it at the court as living expenses, with regards to rent don't think all estate agents run a credit check, probably better off renting privately, I gave up my house got rented property then went bankrupt, with the car if you need it for work can't see the problem having insurance on instalments, I had my contents insurance done that way but have now signed up with the council's own scheme so not a credit agreement, if you include it in your I and E you should be alright.
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Edited by - jurgenpie on 18 February 2009 19:57:19 |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 18 February 2009 : 20:15:47
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Be careful with Norwich Union. I don't know what they are like for car insurance, but when my partner tried to get home insurance with them they asked if anyone at the address was BR, and when he said yes they refused to insure him.
He will need to explain to the OR about the money he has withdrawn from his bank account, but if it's for living expenses and isn't a large amount he shouldn't have a problem.
It might be worth checking with the credit agencies that you aren't linked. If you are, you can file a notice of disassociation from your stepson. However, I lived with my partner when I went BR and he has had no problem getting credit since my BR.
When he has his telephone interview the OR will go through his statement of affairs and ask him to explain where the money went. All interviews are different, but I have posted about my interview in my blog, and it might give you an idea.
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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Melanie.n
forum expert
United Kingdom
1282 Posts |
Posted - 19 February 2009 : 10:41:05
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Just to add a reply to your final comment re renting - people can have difficulties renting property once they are bankrupt - the BO will show up on any credit search the letting agency will do and as such either refuse to let the property or will agree to the lettingof the property providing six months rent in advance is put down as deposit. His way around this is if someone else (like his long suffering parents) take the tenancy out on his behalf, buti would suggest a direct debit/standing order set up to ensure the rent is paid to you to cover the rent on the property or you may end up paying his rent for him!
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
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Stepsons bankruptcy
