Questions you have before making a decision to go Bankrupt and the Bankruptcy process

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Bysarahlock
#7464 HI,

I am in a financial pickle at the moment and BR looks like a good way to go, I am temping at the moment as I was self employed but it was draining all my finances so I had to give that up so temping while waiting to hear from other jobs the problem is the average salary now being employed again will be £14,000 I owe £22,000 at 700 a month.
I rent with my boyfriend so I have rent and bills that i need to contribute too as he doesnt earn enough to keep me so this works out at around 650 I am selling things on amazon to get more cash in at the moment to try and cover but its just not doing enough. How do they look at you when you are living with someone I have nothing apart from a wardrobe full of clothes and a couple of handbags while he has alot of things but they are not mine. Also do you need to tell an employer that this is the situation when it comes to getting a job?
ByMel_Odious
#7466 Hi Sarah,
hello and sorry to hear of your predicament.
First off, I should give you a word of warning; if that is your real name, as it seems it may be, may I suggest you use an alias if you intend to take the bankruptcy route. The details of your bankruptcy will be published online at the Insolvency website, the Gazettes site and in your local newspaper. It would not be too difficult for someone to have access to your full details including your home address, with just a little information such as your name and date of your bankruptcy.
Now and before you make your decision, you should take a look at the Insolvency website at:
http://www.insolvency.gov.uk where you will find answers to a lot of your questions. You should also try and get some independant free advice from the likes of the CAB, as the Judge at your petition will almost certainly ask if you have taken such advice.
Your boyfriend will have to be made aware of what you are intending obviously but his belongings do not come into the picture. You will have to prove what rent you are paying and be prepared to answer in detail what monies you are contributing to the household budget. If you share Bank accounts be aware that these may be frozen.
Some occupations will not accept bankrupts; mainly where cash handling and accounts are concerned, so you will need to check terms and conditions as any future employer may be made aware of your insolvency.
Bankruptcy is a very serious step and should never be taken lightly and you should also explore the possibility of a DMP which may be more suitable.

Mel
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