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

Moderators: TalbotWoods, JaneClack

Byskint1
#3995 Hi.I'm sorting out my forms for bankrupcy at the moment.
One thing I wondered if anyone could answer for me.
I am renting jointly with my husand.I have checked my tenancy agreement and it does not mention anything about not being allowed to be bankrupt and rent the property.
We are on full housing benefit (paid to me directly then I pay the landlords) and our rent is upto date. Is there any reason the landlords need be informed about my bankrupcy?

Has anyone had any experience of this?

Thanks for any info.
User avatar
ByNicky
#3996 From what I understand, I believe you will need to show a copy of a tenancy agreement and proof that your payments are up to date to show you have no rent arrears. As long as there are no arrears, there is no reason for the OR to contact your landlord. I think under the circumstances, the OR will ask you to provide some kind of proof regarding your payments which will be satisfactory.
Byskint1
#3997 I have bank statements showing the rent going out.And even a letter from landlords as housing benefit needed to be back payed (although that was a few months ago).I think that would be ok then.

I just wondered as our tenancy is due to be renewed soon.

Thanks very much.

I'm sure I'll be back with more questions :lol:
Bytreading water
#3998 I have a property which i rent out and to be honest as long as I get the rent I would not be interested if the tenant was bankrupt or not.

I think most landlords are just happy to have a tennant who pays the rent on time.

I have had tennants in the past who have just not paid the rent, it is hard for a landlord to take back possession, it takes a long time and costs a lot of money. Eventually the landlord takes back possession but it took me 12 months to get 2 possession orders.

I am a private lanlord not sure what the council would be like but hey if they evict you they would also have to re home you.

I wouldn't worry.
Byskint1
#3999 I rent privately.The landlords have been brilliant.We found it very difficult to find one who would take a family on benefits.

They are even considering allowing the council to make adaptations to the house for me as I'm disabled.But it is a yearly tenancy and I would not want to give them an excuse to not renew it as we are so happy here.We have had to move 2 times in the last year.

The unfortnate thing is my landlady has the same surname as my maiden name although it spelt differently.Would this affect her credit at all?
Bytreading water
#4000 Unless your landlord gives you a section 21 notice ( that is 2 months notice before the end of the tenancy agreement) you can stay in the property.

I would suggest that before the tenancy agreement is due for renewal you ask if your tennancy agreement can be renewed and sign up again.
User avatar
ByJaneClack
#4001 You are starting to worry now about things that will not be a problem.

It will be your name on the bankruptcy petition and it will be your name that appears on your credit file. Your landlady will not appear on your credit file and you will not appear on hers! She may see the announcement in the local paper but she sounds a very reasonable lady and if your rent is paid and there is nothing in the agreement that says she will not accept a person who may be bankrupt (for no more than a year) everything will be fine.

I know how worrying the waiting period is but so far every question you have had has had a positive answer and it will be difficult to find one that has a negative one for your circumstances. You can of course keep trying though.

We are not only here for moral support but occasionally some spine stiffening too :lol:
User avatar
ByNicky
#4002 This would have no relation to her credit status at all. You are no longer associated with anyone tied to the property as you as long as there is no joint credit agreements.
Byskint1
#4003 Thank you.

I have read some posts on another forum.(which I will not name)
These posts seem to have terrified me with hearing all the worst possible things that could happen.

I think I will stick to this forum from now on.Only sensible practicle advice and support.

I have only had positive answers to any of my questions and I don't think I can think of much more to ask.

In less anyone fancies filling in the 'when did you start to find it difficult to repay your debts and why you can't repay them'parts of my petition :lol:

Just trying to get the wording right at the moment!!!
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ByJaneClack
#4004 :lol:

You'll get it right!

Keep us posted! :wink:
Byskint1
#4005 Thanks for all your help.

It really is appreciated.

I have a few ideas from a few other posts.
Thanks david :wink:
ByDavidc
#4016
treading water wrote:I am a private lanlord not sure what the council would be like but hey if they evict you they would also have to re home you.

I wouldn't worry.


As a social landlord insolvancy is not an issue for council/housing association lets. Neither generally is it an issue for private landlords such as you...It becomes an issue when a landlord has his properties managed by a letting agency who set their own criteria as to the conditions of the let.
David
ByDavidc
#4017
skint1 wrote:Thanks for all your help.

It really is appreciated.

I have a few ideas from a few other posts.
Thanks david :wink:

Keep it short and brief. A few lines is all you need.
David
BySonic
#4024 Hello

I rent from a private landlord - went bankrupt several months ago but have had no problems at all (so far so good). I'm sure with most landlords as long as you're paying the rent they're not bothered if you're bankrupt.

Look at it this way - if you're a good tennant,IMHO it would not be worth their while kicking you out; it's quite a procedure to evict someone, and why evict a good tennant who's been paying the rent on time, at the risk of getting a new tennant who may well turn out to be not so good....?
Byskint1
#4033 Thanks for all the advice.

Just double checking.
When I answer why I believe I can no longer repay my debt.I just need a few lines not a detailed background to how I have found my self in this situation and how the debt mounted up?I could have end up writing an essay when it's not necessary the way I was going :lol:
I only have a few lines for when I realised I could no longer repay.

Thanks
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