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s.f
Junior Member
181 Posts |
 Posted - 28 April 2008 : 15:06:16
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I am considering bankruptcy as I am unable to take out an IVA and I have been trying to pay back my debts for a number of years. I have 2 questions, what happens if I forget about a debt and don't include it on the bankruptcy forms and also my boyfriend has bought a car on finance and transferred the vehicle in my name so I can drive and insure it but now the car is going back to the finance compnay. Will this cause a problem with the bankruptcy?
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Helpful Advice
Average Member
United Kingdom
646 Posts |
Posted - 28 April 2008 : 15:22:52
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Hi S.F.
If you forget about a debt don't worry the OR sees this all the time, if someone was to come out the woodwork at a later stage then just give them the OR's details and your Bankruptcy number, however it does have to be relative if you owe £50,000 and a £5000 appears then this will be ok, however I dealt with a client who owed £150,000 and a month into his Bankruptcy a further 12 creditors appeared totaling a further £120,000 as you can imagine the OR was not impressed with this.
As far as the car is concerned just give the OR the details, as the finance was in your boyfriends name this will prove ownership.
Hope this helps.
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/ |
Edited by - Helpful Advice on 28 April 2008 15:23:35 |
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s.f
Junior Member
181 Posts |
Posted - 28 April 2008 : 16:46:36
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Hi Brett,
Thanks for the advice, there is so much to consider before going bankrupt. I know a lot of people think it is an easy way out but it just isn't.
Thanks again. |
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m and v
Average Member
United Kingdom
760 Posts |
Posted - 28 April 2008 : 17:06:24
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Hi sf
I absolutely agree - with hindsight I should have gone BR two years ago but I desperately didn't want to go down that route. After years of struggling and endless sleepless nights and tears I am finally at a point where I feel I am getting somewhere.
BR has been a difficult choice but without a doubt the best for me. Good luck with whatever you decide.
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storm
Junior Member
United Kingdom
232 Posts |
Posted - 29 April 2008 : 12:13:00
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Hi sf
I too agree that it is a hard option to take. I look back now having finally made my decision to pursue BR and think that I should have thought about and looked into it sooner as I would possibly be better of now. I was retired back in 05 at the age of 29 on medical grounds and was in a financial mess then and its just gone downhill from there. At least there is light at the end of the tunnel I am in and I know it will be a while before I reach it but its head down from now on and just keep going untill I reach that light.
I didn't realise how complex filing for BR was either so it looks like its going to be a fair few weeks before I phone for an appointment as I need to sort the money out for the fees aswell.
Good luck with whatever you decide and lets hope you also reach that light at the end of the tunnel |
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Helpful Advice
Average Member
United Kingdom
646 Posts |
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s.f
Junior Member
181 Posts |
Posted - 18 July 2008 : 12:46:38
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I have finally decided to take action and have got all the relevant forms (how confusing are they!). It has taken me this long to sort out the money to pay to go bankrupt, it makes no sense that you have to pay that much money. Anyway, I have given up filling these forms in by myself and thought I would get my local Citizens Advice Bureau to help. However I can't ever seem to get through on the phone to make an appointment! Hopefully this time next year I will be all sorted out.
Thanks for all the comments and support. |
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melanie_giles
Senior Member
1191 Posts |
Posted - 18 July 2008 : 21:33:04
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The CAB will help you on a free of charge basis but they may take some time to give you an appointment. There are a number of firms springing up who will charge you for assistance, and if you need to do something quickly you might think that their charges are worthwhile.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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Blindshrimp
Junior Member
190 Posts |
Posted - 24 July 2008 : 23:16:30
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The forms are scarey looking...but just gather all paperwork together and take your time.
You can do it |
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Helen030166
Junior Member
United Kingdom
212 Posts |
Posted - 25 July 2008 : 06:43:53
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Hi sf, having jut gone through BR myself I agree the forms are scary but if you take your time and go throgh them bit by bit you willsoon get through them! We paid £250 for our forms to be done by a company because of my partner being self employed and they are doing his accouns anyway so they knew what to put down for that but apart from that bit I did most of it myself so quite frankly thought it was a bit of a waste of money! The best thing is to be prepared beforehand and get as much info together to hand as possible ,you'll be fine :) Helenx
Thanks for your Help,Helen x |
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s.f
Junior Member
181 Posts |
Posted - 31 July 2008 : 11:58:11
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OK I have a couple more things that are bugging me. Firstly my boyfriend doesn't live with me yet as we keep putting it off, however our second baby is due in September and we both wanted him moved in and my mess sorted out before then.
Firstly, if he moves in BEFORE I declare my bankruptcy how will this affect him and/or my bankruptcy. For example will his earnings be taken into account and will he have to pay off some of my debt that I accrued before I even met him?
Secondly, on the bankruptcy forms it asks if I have the use of a car that I don't own, which I do. My boyfriend took out finance on a 07 reg car so it is obviously expensive. Now I don't own the vehicle he does, but I use it for shopping and taking the kids out etc. Why do they need to know about that? Can the courts take it away as an asset if it doesn't belong to me? And would it make any difference if he is living with me or not.
This whole situation is putting a big downer on him wanting to move in with me! Obviously he is very concerned that if he moves in all his possessions will be treated as mine and taken away.
Argh, it just doesn't get any easier. |
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s.f
Junior Member
181 Posts |
Posted - 19 August 2008 : 09:39:38
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Well I had my appointment with the CAB yesterday. I waited 3 weeks for it so I could get some help filling in a few questions in my statement of affairs. I didn't want to make a mistake and the CAB assured me that they had a bankruptcy specialist to help me.
What a waste of time. The guy didn't have a clue what he was doing or talking about. He refused to help me with my forms or even answer my questions. He spent 2 1/2 hours going through my income and expenditure to see if I had any disposable income (which I don't) and then he told me if I did that I wouldn't be allowed to go bankrupt. That can't be right surely. Any disposable income is used to pay your creditors and it is up to the OR to decide isn't it?
Anyway, he then said right time is up and we have only half looked at your finances so you need to come back. So he booked me an appointment for September 10th (I will be canceling that) which is great as I am due to go into hospital to have my baby on September 20th, if he/she hasn't appeared by then.
I was left very annoyed last night and just decided to fill the bankruptcy forms in myself and if I make a mistake I am sure it isn't the end of the world. I can always redo them.
Sam |
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maizie
Average Member
United Kingdom
566 Posts |
Posted - 19 August 2008 : 10:54:50
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I had the same problem with the CAB... absolutely useless. He kept talking about a company that specialises in debt management plans, I kept saying Ive been in an IVA for a year and thats failed, why do I want to go back when I can go forward!
He was reading off the screen, knew nothing about any of the questions I was asking him. All he kept saying was I can't answer that, I neither a judge or an Official Receiver! I came away from there feeling totally fed up, taken time off work to go and see them.
In the end I had the attitude, I done as much as I can, what will be will be.
This forum has helped me get through this, I went bankrupt on Friday, couldn't have done it without them and now just waiting for the official receiver interview.
Maizie |
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s.f
Junior Member
181 Posts |
Posted - 21 August 2008 : 12:37:45
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It is sad when that happens as I always thought of the CAB as a great free resource. To be honest I have never found them to be any good.
I would say that if your case is straightforward than fill the forms in yourself and if you make a few mistakes I am sure the court and the OR will understand as they are only human. However I think I would have preferred to pay for some professional help (if I could afford it, obviously not or I wouldn't be going bankrupt).
Anyway, I have filled most of the Statement of Affairs paperwork in and have given myself a splitting headache in the process!
Hopefully I will be able to complete ASAP.
Sam |
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considering bankruptcy and have 2 questions
