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

Moderators: TalbotWoods, JaneClack

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By JaneClack
#472715 I can see where you are coming from and I can see it is a logical interpretation. I just do not want to give you duff advice - I can always ring the insolvency service - so will do and get back to you on what they say. :D
By Butts
#472716 Your a star :P
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By JaneClack
#472717 I have spoken to the Insolvency Service and they confirmed that as an EU member the moment you move to another country with a different jurisdiction and are resident there you can file for bankruptcy in that state.

However, you would only be able to claim for the roof over your head in the new jurisdiction and therefore all the bills associated with it. You could not maintain a rental elsewhere.

Hope that helps.
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By JaneClack
#472718 I forgot to add they were very clear that you could not come to live in England for a few months then go back to Scotland and file for bankruptcy in England.
By Butts
#472719 Thanks for that ....looks like I'd better give Pickfords a bell !!!

If I move down to England and live with my son or ex wife for the required period and then go Bankrupt whilst not claiming any benefits or working will it be a problem with the OR that I have nil income and outgoings ? I don't want to be a burden on the state (only on my son or ex-wife :lol: )

Also are £100,000 plus Bankruptcies scrutinised more closely - ie am I likely to have an interview in person rather than over the phone ? I have nothing to hide but would just like to know.
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By JaneClack
#472720 I cannot say but think it is likely you will have a face to face interview given the amount of debt, the fact you need all addresses in the past six years and no income or outgoings. There will need to be some as people cannot live on no money at all!
By Butts
#472777 Well I have now been resident in Wales for a whole Month so my masterplan is slowly moving towards fruition !!!

One question that you should be able to answer is that now the Bankruptcy Application is completed online do Payplan do this or do you have to do it yourself ?

I only ask because their service to DMP Clients seems to have been reduced - when I moved from Scotland to Wales I had to write to all my creditors informing them myself. Six years previously moving from England to Scotland they did it !!
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By JaneClack
#472778 That surprises me as if we are distributing to creditors then we usually inform them - unless of course it is to do with FCA regulation and you have to let the creditors know yourself of a change of address. We certainly used to just update the address and send out a new financial statement. And of course unless we were distributing token offers which we are not able to do for lengthy periods of time as it is not a debt solution but just treading water.

We have never been in a position to fill in bankruptcy applications for clients in debt management - it has always been down to the client themselves as payment etc had to be made and it had to be submitted to the court by the client. Now it is online it is easier to do as the court has been taken out of the equation but even so you would have to submit your own and make the payments - however, you can make them in instalments.

Good luck Butts.
By Butts
#472779 Hi Jane,

Thanks for replying particularly as it's Easter Monday.
The reason I asked about the forms was because in the early days of my DMP (9 years ago) I had a CCJ and they filled all the paperwork out for the redetermination which I then sent with the fee to the Court.

As I understand it part of the Bankruptcy Process is confirming that you have had independent advice that this is the correct course of action for you to take. Does that come in the form of a letter from Payplan or do you just quote your Client number on the form applying for the Bankruptcy ?

Thanks.
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By JaneClack
#472780 Have they advised bankruptcy?

Send me an email to jane.clack@payplan.com and I'll see what I can do.

Yes, we help with filling in court forms for CCJs etc but you have to sign and send anyway but we cannot do this for bankruptcy.
By Butts
#472782 Hi Jane,

Sorry fro the delay in replying.

Will be in touch soon, still considering my options !!
By Butts
#472785 With the online Bankrupcy procedure it says on the Gov UK website that it can take up to 28 days for your application to be processed and a Bankruptcy Order made.

Is the effective date of your Bankruptcy backdated to the date of application or is it the date the order is made ?

Thanks.
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By JaneClack
#472786 It is the date the order is made.

Most do not take that long - there is an initial look and then they either say yes or look further. Most are delayed as forms not completed properly.
By Butts
#472843 I have heard there is a new Standard Financial Statement being used with regard to calculating whether an IPA/IPO will be awarded during the Bankruptcy process.

There are apparently allowances for smoking and alcohol ( sections for which I have seen on the official BR form as I did a "dummy application")

However Payplans Extensive Budget Guide makes no mention of this.

Is it true and what are the rough "trigger figures" ?