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paulsc
Junior Member
289 Posts |
 Posted - 10 April 2009 : 06:46:41
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I have decieded to go bankrupt shortly and after placing question on here i am start to worry about the outcome .. I appreciate this advice everyone has given and realise the intent wasnt to cause worry ..
Worries
1.I have been sending my girlfriend money for holidays ( I now understand that the OR can ask for this money Back which will disappoint my children who are looking forward to the holiday..
2. I pay for my girlfriends Gym subscription to cover food cost when i stay she lives 250 miles away which is another story..
3.I have a LLOYDS loan Initially £22000 including interest at the last balance i owed £9300 the contractual payments were £343 a month . But after i got divorced and on low income i reduced the payments to £4 a month they didnt agree.. I moved from dorset to cornwall and then to whitby then hartlepool where i lived on a boat whilst in hartlepool i was making payments to LLoYds through a comapny called BLS they stopped cashing cheques i was sending, and i havent paid a penny for about 4 yrs so feel the OR wont like that either..
4. I was also foolish thinking i could gamble my way out of debt that didnt work either and have now stopped
WHAT A DILEMA
WHAT A DILEMA ?????
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Sunshine_Girl
New Member
77 Posts |
Posted - 10 April 2009 : 08:18:56
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Hey, Paul!
Firstly, welcome to the club. You'll find this site a great help and you'll find a lot of support here. There are also some very friendly experts who know a lot more than we do. I can, however, give you some answers based on my own experience and research:
Firstly, gym' membership is not, I’m afraid, classed as a ‘reasonable domestic expense’, so they may well have that off you (see http://www.insolvency.gov.uk/pdfs/guidanceleafletspdf/ipoipa.pdf and go to Page 6). But make sure you list every little expense that you are allowed to keep (see the list on Page 5 of what you can include). As far as the payments to your children go, I think that would depend on the specific details of the situation and assessed on a case-by-case basis but I’m sure an expert will be along soon to clarify this.
I see no reason why the Lloyd’s loan wouldn’t be classed as a ‘provable debt’, whatever payments you’ve been making and however you’ve been making them.
The gambling thing may lead to a one-to-one interview (don’t panic, it’s more inconvenient than scary and their bark’s much worse than their bite) and the worst which could happen would be a bankruptcy restrictions order, but if you don’t dispute the decision, they’ll reduce it to a bankruptcy restrictions undertaking, which would last for about half the time. And don’t worry about BRUs or BROs – they’ll only affect you if you’re planning on holding some sort of high office in the next few years. For most people, they’re harmless. See http://www.insolvency.gov.uk/pdfs/guidanceleafletspdf/bro.pdf for further details.
Anyway, keep that chin up. It’ll all be over before you know it and you can have a fresh start!
SG |
Edited by - Sunshine_Girl on 10 April 2009 08:21:06 |
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paulsc
Junior Member
289 Posts |
Posted - 10 April 2009 : 08:44:42
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I have just gone through my bank statements and found another problem.
On divorce i agreed to pay off a joint debt through court but i didnt do that for 2 years and 6 months on paymnets are showing 18 months ago will OR recall this money £49.51 for 6 months
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Sunshine_Girl
New Member
77 Posts |
Posted - 10 April 2009 : 09:10:39
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John
New Member
United Kingdom
73 Posts |
Posted - 10 April 2009 : 11:46:12
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Hi
if you paid a debt following divorce which was rubber stamped by the court at that time the monies will not be reclaimed.
John White
England Jackman & Spacey |
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paulsc
Junior Member
289 Posts |
Posted - 10 April 2009 : 12:07:13
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Thanks john thats one worry out of the way
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paulsc
Junior Member
289 Posts |
Posted - 10 April 2009 : 17:06:40
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Sorry sunshine Girl thought i had sent a reply obviously didnt click submit appreciate you reply and hope you have a cracking easter and eggciting time been busy having my 2 daughter today so only been on for few seconds at a time.
With regard to gym i have been fortunate to get a Doctors letter so fingers crossed should be ok
I certainly hope things pan out for you in the way the way you want.
Roll on the summer and more sunshine
paul
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Edited by - paulsc on 10 April 2009 17:09:23 |
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Bankruptcy WORRIES
