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Comet91
Starting Member
United Kingdom
8 Posts |
 Posted - 07 April 2009 : 22:41:41
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Hi, i am on maternity allowence at the moment and in January hubby was laid off. We have managed to meet all our payments so far but this month we have absolutley nothing left to pay with and there is no sign of a job for hubby so after much soul searching we think that bankruptcy is the best option for us. We have around 30k of debt between us and negative equity on the mortgage.
Now we have decided that we are quite happy to loose the house as it has negagtive equity and we hate it up here and would like to move back to where our families live. We are looking at some rentals tomorrow, do we have to let them know that we are going to declare bankruptcy as we would rather not? Also how do we actually go about handing in our keys? Do we just send that to our local branch of HSBC or should we ring them and explain 1st? Is it better to declare br at this adress or our new one so we do not have to change all our details?
Also on the forms, no matter how i work it our expenses are much higher then our income and we come out as a negative disposable income as we are just on benefits at the moment, will this be accepted as i don't want to put down really low figures that we couldn't live on to break even now and then have hubby get a job and we have to pay as our expenses would be so low??
We are also really confused at the best way to fill out the i&e as we are both declaring. We get joint tax credits although it gets paid to me, do i put that down as benefits on just my form or do i split it and put half down on each? Do we also put all the expenses down as household expenses and put each other benefits (mine - maternity allowence, child benefir and tax credits, his - jsa) in partners contribution or should we split all the expenses and not put in the partners contributions?? Sorry to confuse anyone but i really don't know the best way to work this out |
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Lizzie
New Member
United Kingdom
59 Posts |
Posted - 07 April 2009 : 23:03:57
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| hi Comet91..this is the time you should be enjoying your new baby, I assume you have a new baby, I am not an expert on your problems but I am sure someone on here will be. I really hope you get things sorted so you can enjoy being a family. |
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chester2005
Average Member
United Kingdom
786 Posts |
Posted - 07 April 2009 : 23:23:02
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firstly welcome to the forum
If you are planning BR then stop paying any of your creditors to allow you to save the £510 each you need to go BR Less if on certain benefits.
You have to list the address that you are living at and any address you were carrying on any business.
If you establish a rental agreement before BR but don't move in until after you have been to court you may not have to tell the OR until the interview, but you will have to tell them.
If you don't want to keep the house then when you have found a new place to live and are moving out sendthe keys to the mortgage provider with a letter saying where they belong to DO NOT TELL THEM AND DO NOT SIGN A LETTER OF ACKNOWLEDGEMENT which they try to get you to sign stating you will still owe them even if BR.
If you are both going BR then list all your incomes on the forms Child benefit does not count towards an IPA, but if you have negative Disposable income it won't matter anyway, you won't get an IPA on benefits.
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman)
Life's too short!!! |
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