In debt and Bankruptcy?

Scottish and English debt laws are different, so if you are a Scottish resident and have questions on debt, then this is the place to post.

Moderators: TalbotWoods, JaneClack

In debt and Bankruptcy?

Bymillertime_1985
- Sat Jan 18, 2014 2:34 pm #462153 Sorry to post what I imagine may be similar to some of the other posts...

I'm in a fair bit of debt, and have been for several years where I pretended my debts didn't exist... anyway about 5 years ago I lost my job due to health issues and through trying to deal with guilt, I started making payments to some of the companies that I have debts with...

Last year I was advised to contact a debt company for advice about bankruptcy or IVA type things... I explained that I had no more than £30000 of debt and that I have been on benefits for the last 4 years or so due to on going psychological issues.
I was advised to go down the LILA route with bankruptcy and that was that...

At the start of the year I wanted to start moving ahead with things so started filling out the documents for the bankruptcy...

But while I know I can go through the bankruptcy via LILA i don't know exactly what happens.

I don't k now how many months bank statements I have to be able to provide (3, 6, 12 months or more?), and what details they (aib) will be looking at...

Sorry for taking up your time, and thanks in advance for any advice.
Last edited by millertime_1985 on Sun Jan 19, 2014 2:25 pm, edited 1 time in total.
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Re: In debt and Bankruptcy?

ByTalbotWoods
- Sun Jan 19, 2014 1:46 am #462203 Hi millertime_1985

Please bear with me for a couple of days, and I'll get Sarah or WMD to answer this on Monday (she is more up to Scottish LILA than I am)
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Re: In debt and Bankruptcy?

ByJaneClack
- Mon Jan 20, 2014 10:50 am #462393 Hello - the procedure is fairly simple and I can do no better than quote from the AIB Website:

To apply for your bankruptcy, you must complete one of the debtor application forms. These are available from your local Citizens Advice Bureau, Money Advice Centre, Trading Standards Office and from the Accountant in Bankruptcy.


You can also access and download debtor application packs from this website.
http://www.aib.gov.uk/guidance/publicat ... sapplforms



The Accountant in Bankruptcy will be your trustee unless you choose to nominate an insolvency practitioner to do so. The insolvency practitioner must give consent for their nomination as trustee, in writing. You should send your completed application form, the appropriate documents/ evidence proving you are eligible to apply and the application fee to:



Accountant in Bankruptcy

1 Pennyburn Road

Kilwinning

Ayrshire

KA13 6SA




Please note you may be asked to send documents to support your application - details of these can be found in the guidance notes.

If you do not meet the conditions or fail to provide the documents requested, your application may be rejected and the fee paid will not be refunded.

The website address is http://www.aib.gov.uk

Basically the AIB can get hold of any information s/he wants as can access your bank accounts etc. So provide what you can. You should also read through the Debtors Guide.
http://www.aib.gov.uk/sites/default/fil ... 202013.pdf
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Re: In debt and Bankruptcy?

ByJaneClack
- Mon Jan 20, 2014 12:41 pm #462433 In the application pack which you say you have completed there is a page giving information on how to fill in Q13 where it states:
You must incluide evidence of your receipt of benefits, for example your award letter from the issuing benefits office or your last 3 bank statements showing receipt of your benefits.

The guidance included within the pack is very extensive.
http://www.aib.gov.uk/publications/debt ... ion-pack-0

Good luck and I hope things go well - you should seek as much advice as possible as this is one of the first questions they will ask you.
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