|
|
 |
 |
FORUM |
|
> Browse and post on our forum |
|
|
|
 |
|
 |
| Author |
 Topic  |
|
|
Andy.S
Junior Member
United Kingdom
183 Posts |
 Posted - 28 April 2008 : 14:50:38
|
Hello all.
I'm still working my way through preparing my Statement of Affairs, trying to do a bit each day,(using the online method), and am currently planning/hoping to be able to submit my B/R petition next week some time.
I'm stuck on a couple of bits though & am hoping someone out there can just clarify & advise on a couple of queries I have:-
On section 3.2 (Assets) there is a question about any personal pensions. I am currently paying into a company pension scheme (the LGPS Local Governemnt Pension Scheme), and in a previous job, I was also a member of a company pension scheme, where at the time I left, my contributions would have been saved & kept in the scheme to pay a pension to me when I reach the relevant retirement age.
Do I need to put any details of these schemes in this section, or does the question only refer to truly personal pension schemes. If it IS applicable to me then what sort of info do they want as I have no idea what I've paid in, particularly for the scheme I was in with my previous employer.
On section 4 Unsecured Creditors, I have obviouly been putting in details of the different credit cards I have. Because on many of the cards they have been used for day to day living and over a period of time, is it ok on the bit where it says 'Date Incurred' to put the date of the first transaction? (I have already put the date obtained for each card in section 5.1).
Also in the same section where it asks 'What was the debt for?' there isn't a lot of space to write much, so is it ok here to put in for example: 'low rate balance tfr' or 'general living exps' etc?
I've still got to complete Section 11 Causes of Bankruptcy, & this for me is probably the hardest bit to do, but I've tried, while digging out the info for the other sections, to get some idea of the financial sequence of events that have led me to my current crisis, as I'm hopin that when combined with details of my personal issues/situation & other life events, it will give the Courts & the O.R. a realistic explanation of my position. (I guess that's all I can do really & then just keep my fingers crossed that it all goes as smoothly as possible!!)
I hope everyone else out there is coping ok, and I will be really glad & highly relieved when I get through the worst of this.
Best wishes
Andy S |
|
|
Helpful Advice
Average Member
United Kingdom
646 Posts |
Posted - 28 April 2008 : 15:11:15
|
Hi Andy,
Yes you will need to supply details of your pensions, however as they are work related and therefore Inland Revenue approved there will be no risk to these.
Give them as much detail as you can.
For the date on section 4 put in the date obtained again and for the explanation yes it is fine to do this.
Good luck Andy if you have any further questions please post I will be happy to help.
Kind Regards,
Brett England
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
View my personal story & blogs at:
http://brettengland.blogs.bankruptcyhelp.org.uk/ |
 |
|
|
m and v
Average Member
United Kingdom
760 Posts |
Posted - 28 April 2008 : 16:32:13
|
Hi Andy
When I was completing my SOA I took Skippy's advice and got a copy of my credit report - it really helped plot out what happened when - it shows when problems started to occur/how much etc and made that bit of the form a bit easier. |
|
|
|
Andy.S
Junior Member
United Kingdom
183 Posts |
Posted - 28 April 2008 : 20:08:24
|
Thank you for your replies Brett & M&V.
On the section 4 question again, the reason I have put down the date used from is because some of the credit cards I have are older than others and over the years they have at times been cleared and then used again at a later date.
So I thought it would make more sense to state when I first used them, in respect of their current accrued balances, rather than when I first used them ever.
However, if it's still better to state the initial date obtained again, as I've done n section 5, then that's what I'll do. I don't want to get in trouble with anyone for completing it wrongly!
Thanks again
Andy |
|
|
|
m and v
Average Member
United Kingdom
760 Posts |
Posted - 28 April 2008 : 21:12:03
|
Sounds like my credit cards! I too put down the date I first got them and tried to list some big things I had used them for initally, although some I have had since the early 90's so that was pretty much guess work. I listed some as balance tranfers as the first debt because I had got them for a better interest rate. I know I have some credit cards that I got just because I opened an account or just "looked" at a building society as I walked past!! I didn't necessarily get them for a specific purchase. On all I put "day to day living expenses" or "used to pay bills/other credit cards" as well as at the end I was juggling all the credit cards - robbing Peter to pay Paul!!
From my understanding when you meet/speak to the OR they go through each debt and you can then explain the timeline, how you paid some off with consolidation loans, used them to live on, used credit to pay for credit etc etc..
V
|
|
|
|
Andy.S
Junior Member
United Kingdom
183 Posts |
Posted - 29 April 2008 : 01:44:56
|
| Yes m & v, that does sound quite a familiar scenario! Certain cards I only originally obtained for their low interest rate on balance transfers, and others for example because they had 0% for a certain period, but I've had some major upheavals in last 3-4 years including a broken relationship, moving address, changes in my job and work location, and personal problems. I never envisaged things getting as bad and out of control as they have, although certain lenders haven't helped by trebling their interest rates over the last year, just because, it seemed to me, that I didn't want to take out one of their loans! (the letters MBNA come to mind!!). Anyway, eventually, like you things got to the robbing Peter to pay Paul stage, & I realised I neeeded to get help with all the problem areas of my life, including the financial side of things. So that is what I'm now doing, and once I'm through this life crisis, I don't ever intend to get in debt again!! |
|
|
|
m and v
Average Member
United Kingdom
760 Posts |
Posted - 29 April 2008 : 07:40:00
|
| I'll second that! Good luck x |
|
|
|
Andy.S
Junior Member
United Kingdom
183 Posts |
Posted - 29 April 2008 : 15:46:41
|
| Thanks Vicki! I'll keep everyone posted on my progress!! Andy |
|
|
| |
Topic |
|
|
|
| bankruptcyhelp.org.uk Forum |
© bankruptcyhelp |
|
|
|
|
|
 |
|
|
|
|
|
Help required on Statement of Affairs
