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rocket1381
Starting Member
United Kingdom
29 Posts |
 Posted - 24 February 2009 : 12:33:56
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Hi Dear
First I have to say sorry if my question''s & problems have been said before time and time again.
Let me please explain my situation, I had a full time job and £40,000 debt from 6 years ago which i were paying off as much as i could bit by bit every month to finish off (some months i only had 60 to live on), i wanted to work for my self one day, so in mean while i registered a company with company house, I only formed the company and opened the bank account for it last September, all in my name(never had opportunity to used them) I had a plan and I was stick to it.
Then one day I lost my job as that position was not available anymore(i died that day). every break i have laid in past few years was destroyed. now it`s me and £29,500 debt from one loan and 3 credit cards.
After I had a chat with national debt-line, I have only one option at the moment, bankruptcy. So i have requested the application from my local county court.Now I am here with you bankruptcyhelp.org.uk and i need your help I have some strait forward honest question Please:
1- I have a car which worth around £3000, What will happen to it? I was thinking to transfer(sell it) it to my brother before hand. Is that gone work?
2-what will do to my company name i registered? do i need to tell the about it? will they find out? It never been used.
3- you always have bank account which you opened years ago and have`t used for long time. do I have to tell them about them? will they find out if I don''t?
4-will they find all the information about you encase you forget some thing??
I am sorry, but i wanted to be honest and ask my real question''s. I am sure I will come up with some more later but these are my concern for now.
Looking forward to hear from you
A dead men |
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HELP BR
Starting Member
34 Posts |
Posted - 24 February 2009 : 12:40:17
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Someone with more information will reply soon I would like.
But I think the first thing is – you can’t hide anything from the court – be honest and open about everything! Lying will catch up and you and you should use this as a clean break
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 24 February 2009 : 13:02:13
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Hi and welcome to the forum.
I'll try and answer your questions in order:
1. If you sell your car to your brother it must be done at the full value and you will need to be able to account for the money. You will need to declare the sale of your vehicle on the BR forms.
2. I'm sorry, I can't answer this one.
3. Yes, you will need to disclose the details of your bank account on the forms. The OR will find out if you don't, and if they think you are hiding anything they are likely to go through your whole case with a fine toothed comb.
4. If you don't supply all the information the OR needs they will ask you for it, so don't worry!
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 - 24 February 2009 : 14:27:28
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Hi there
Skipp13 has as always given a clear answer to the bulk of your concerns - I am hopping on board just to clear up the company query
Following declaring bankruptcy you would be unable to be a company director (you would have to contact Companies House and do a formal 'resignation of Director') or involved in the running of a company for the period of your bankruptcy. You would also have to remove your name from the company bank account/close the account. Ensure you have all the paperwork with regard to the compay as the Official Receiver will want to ensure you have 'resigned' etc. The company can remain dormant at companies house, if that is your wish, in case you want to go down that route in the long term future
Hope this answers your concerns
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
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rocket1381
Starting Member
United Kingdom
29 Posts |
Posted - 25 February 2009 : 00:53:04
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I would like to say thank you all for helpful notes.
so best way for my company would be to inform company house and resign as director and close bank account for now.
Q1: will I ever be able to get them back? how long?
about the car,
Q2: so will I lose the car?
I am signing for job seekers allowance at the moment,
Q3: what will be my situation when they set monthly payment?
thanks again |
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rocket1381
Starting Member
United Kingdom
29 Posts |
Posted - 25 February 2009 : 01:11:51
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I have question another please:
Will court go through your spending in you bank statement, and ask what/why you been spending on?
And when you say they will find out about other bank account.
how exactly they will find out please? will they now what I been eating yesterday?
Q: is that like i am under secret surveillance from right now?
Thanks every one |
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rocket1381
Starting Member
United Kingdom
29 Posts |
Posted - 11 March 2009 : 09:19:52
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Hi Melanie,
Two concerne:
1- I have a house mates where I live(two),I am a bit embarrass to tell them I am going bnkt, but I will. Would you be able to tell me, how it will effect them when they live in same address with me? specially mark`s one of the house mate, i know his girlfriend using our house as her bank address. you know how it is when you live in share house.
2- After I resigned as director of my company, how long will it be till i will be able to be director again? or never again?
regards
quote:
Originally posted by Melanie.n
Hi there
Skipp13 has as always given a clear answer to the bulk of your concerns - I am hopping on board just to clear up the company query
Following declaring bankruptcy you would be unable to be a company director (you would have to contact Companies House and do a formal 'resignation of Director') or involved in the running of a company for the period of your bankruptcy. You would also have to remove your name from the company bank account/close the account. Ensure you have all the paperwork with regard to the compay as the Official Receiver will want to ensure you have 'resigned' etc. The company can remain dormant at companies house, if that is your wish, in case you want to go down that route in the long term future
Hope this answers your concerns
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
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Melanie.n
forum expert
United Kingdom
1282 Posts |
Posted - 11 March 2009 : 10:01:23
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Your bankruptcy wll not affect them in any way, the same as it does not affect parents if someone still lives at home, the bankruptcy is against you only.
You do not have to tell them, they would not be notified in any way, just do what you feel comfortable with
With regard to being a director again there is not problem once the period of bankrupty (twelve months ) has expired
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
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rocket1381
Starting Member
United Kingdom
29 Posts |
Posted - 11 March 2009 : 10:23:21
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Melanie Nicholas, You are the greatest.
thank you, thank you. |
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i need your help
