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

Moderators: TalbotWoods, JaneClack

By neverbeenknown
#219143 Hiya

Just a couple of quick questions

Im filling in the forms online answering all the questons as asked, tough ive stumbled across a question in list of unsecured creditors, where it asks for date incured. Is this the date credit was taken? And then the question, what was the debt used for?

As there so many things a credit card was used for is there a specific term, like "living costs" or expenses, or even paying off existing debts? Has anyone got anything that perhaps you used in this section? Or something that is seen as exceptable :?

Many Thanks

By cyberelf
#219148 i wouldnt worry too much about it as anything that need to be explained any further can be done in the intereview with the OR as they will likely go through the whole thing with you then.
They may however be interested in and real high value items if you bought any on the cards such as cars etc.
By neverbeenknown
#219149 Thanks for the reply

Im also alittle unsure what to put in the Outgoings section at this stage. Unfortunatly Im Unemployed due to being made redundant recently. Im on Job seekers allowance, which Ive put as my income, and im currently living with my parents. I cant obviously afford to pay them rent yet, or any bills, though do I have to fill something in the outgoings to show I havnt any disposible income from Jobseekers Allowance.

Also is anybody aware of what to do regarding mobile phone bills? Im currently with 02 and about to go overdue on paying a monthly bill, though its only a monthly simplicity contract! Are there any other decent mobile contracts or options for people going bankrupt?

Many Thanks

By johnny 73
#219170 when filling in the details about when credit was taken out and what it was used for just answer the date as best you can and you can list the reason as living costs, or repaying other debts etc. the OR will understand that not everyone can remember dates credit was taken out

as regards your expenditure, if yo're on JSA its fairly immaterial anyway as no payment order will be requested of you as your income isnt high enough.

you could list 'contribution to household expenses' then there's travel costs, phone, clothing