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 bankruptcy postbag for august
 Need Advice please
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Junior Member

United Kingdom
344 Posts

Posted - 25 August 2008 :  20:18:28  Show Profile  Reply with Quote
Nope sorry, im new too so not sure on that one.
Maybe John will know. He no doubt will be back on here later and can help us answer that one.
Till then

"There is light at the end of the tunnel, if you cant find it, get a brighter torch!"

You can read my blog here:

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New Member

United Kingdom
73 Posts

Posted - 25 August 2008 :  20:38:53  Show Profile  Reply with Quote
Hi Caro

BR in the High Court has nothing but advantages in my view.
a) All you need is the completed forms and the fee.
b) No appointment required, walk in, any weekday.
c) You will see the OR face to face the same day, his offices are close by.
d) The High Court gets to see the majority of major Insolvency cases so by comparison yours is minor. A local OR may not see it that way.
e) Judgement is no more, or less, severe than anywhere else.

The OR cannot take your husbands van provide it is legally his (registration in his name does not prove ownership). For example, if your bank statements showed that the van was purchased with funds released from an account in your sole name, there's an issue.
If not, don't worry.

Who can know what creditors will do. One may or may not file for your BR.
It was once quite a weapon to threaten BR but the reality is if they succeed they get nothing. At one time they would happily lose one debt by using the threat as the other nine out of ten got the money somehow rather than accept the dreaded B word.

These days our options are few, the stigma isn't there so the creditor gamble to threaten BR doesn't really work anymore. So, in most cases they would go down the bailiff route first in the hope that endless letters phone calls and the threat of bailiffs will do the trick. It's cheaper that way and they may well get something from it.

In the circumstances I would not disclose your previous BR in the US I do not see that doing so will help the OR in any way.

Regarding the forms, there are professionals that will complete the forms for you, or rather work with you to complete them, I offer the service myself in my other life, but I fail to see where you would benefit apart from the comfort of knowing they are correct.

0800 078 9367

Edited by - John on 25 August 2008 20:40:07
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Junior Member

United Kingdom
177 Posts

Posted - 25 August 2008 :  21:01:13  Show Profile  Reply with Quote
Thanks John, I appreciate the advice.
I know you can't tell me when to file BR but considering I am not behind except for 1 month on 2 credits cards, when would you suggest filing BR?
I thought I would send a letter to each creditor asking them for a month or two to sort out my finances and in the meanwhile get paperwork and money together to file. Do you suggest this?
Also, what happens when it comes time to determine DI and they look at my income. Will they take into account husbands income towards bills? As I said in first post, his money is coming in dribs and drabs and that is why I am in this situation. It is unreliable. Will the OR just look at my income and then look at my total monthly bills? Or will he/she deduct what they think my husband should be contributing towards them? I am confused about this as it is myself, spouse and son so this would be a house of three. But, husband is self employed so I don't know how he/she will determine what my DI is. I hope this makes sense the way I am explaining it.

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New Member

United Kingdom
73 Posts

Posted - 25 August 2008 :  23:36:57  Show Profile  Reply with Quote

when is best to file depends on individual circumstance.
If there are no other points to consider which may affect the timing I would suggest you have all your documents completed, wait for your salary to be paid into your account, remove the cash and go BR straight after.
Once BR open a new cash account and arrange for your salary to be paid into the new account next time around and set up any DD's also.

Within your Statement of Affairs it asks for your personal monthly net income, the household expenditure and other contributions made to the household.

The spouses / partners contribution is entered in section 6. Your personal net income is obvious as are the household expenditures. Your husbands contribution figure DOES NOT have to be his / her monthly net income. Nor can the OR check it. If it is excessively low in comparison to yours the OR will ask why at interview and you should explain why it is low and also advise them it is very hit and miss.

0800 078 9367
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Junior Member

United Kingdom
177 Posts

Posted - 26 August 2008 :  15:49:35  Show Profile  Reply with Quote
Hi John,
Thanks for the info. I went down to the local Courts today and picked up a BR packet/applcation as my printer went on the blink. While I was there, the clerk told me I should file BR paperwork there. I advised that I had been told that I should go to Strand but she said she double-checked with the local OR and they sad I could file locally. I would prefer to file n London. Does it matter where file?
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