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

Moderators: TalbotWoods, JaneClack

By homely
#4890 i am applying for bankruptcy in 2 weeks time,i am unsure what to put down for housekeeping.me & my husband are going bankrupt and as a family of 4 i do not know what realistic amount to put in.
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By JaneClack
#4893 You should be able to put at least £450 - £500 as housekeeping, another £80-£100 for clothes and don't forget toiletries, prescriptions, transport etc etc. You put down what you spend - eschewing the fags!! If you have pets put them down - on the paper. The BBA have some trigger figures but the OR is always more generoud.
By homely
#4894 i have found this site amazing i phoned the courts on monday and got an appointment for the 4th april,then phoned the CAB for an appointment they could only offer me one 2 days before we go to court.i could nott accept this as i am working and have already asked for the 4th off in which they do not know why i want this day off.i have found that with the help of you guys and the forum that i may not need as much help from them as thought.as im finding most of my questions answered on this forum.as i may also be backed up by most people on this forum.
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By JaneClack
#4895 Thanks for letting us know that. Come back for any advice you want - we will try. Skint1 is a good adviser as she has been through it and DavidC is back so he may well come in and help.

The CAB is staffed by volunteers and they are always really stumped for funding so they really are not able to see everyone as promptly as they need to. This is not their fault although the fact that some seem to be staffed with little old men and ladies with perms who are not money advisers doesn't help their case. Someone at a CAB in the West Country told a 71 year old man the other day not to go bankrupt as he would have his passport withdrawn! If you can manage to see a money adviser at a CAB you will be ecstatic as they are brilliant. I saw one once years ago and that was really when my life turned round. Instead of running around like a headless chicken I stepped back and looked at the situation and did what I could - which at the time meant paying creditors £1 per month.

Go for it girl!
By skint1
#4900 Thanks Sarah for your vote of confidence :)

Any help needed just ask.
I put down £440 for housekeeping for a family of 3 because I have a special diet.The OR didn't question it.

The court will help you with anything on the forms your not sure about so don't worry.I left half of my 6.27 form blank and they did it all for me :)
By homely
#4903 thanks skint1dont know if you know the answer to this question.When putting down all your creditors and amount outstanding do i have to put in all creditors that i do not owe.for example ihave a catalogue with a £600 limit but do not owe a penny and i have a book club that i have to pay for the books i order within 10 days which i owe nothing on
By skint1
#4905 Hi.
I wasn't sure what to do with these myself.
I listed them in section 5.2 bank accounts and credit cards held.
I asked the courts and they said it was fine to put them there as there wasn't anywhere else for it.
They don't make it very clear do they.

But you do need to list every account you have whether you owe money or not.

Good Luck with the forms.
ByDavidc
#4909
skint1 wrote:Hi.
I wasn't sure what to do with these myself.
I listed them in section 5.2 bank accounts and credit cards held.
I asked the courts and they said it was fine to put them there as there wasn't anywhere else for it.
They don't make it very clear do they.

But you do need to list every account you have whether you owe money or not.

Good Luck with the forms.

Posted: Sun Mar 20, 2005 10:57 am Post subject:




poviding you do not owe any money on them there is no need to mention a catalogue account nor your book club.....In fact there is a positive benefit in keeping them active over the next 6 years untill your bankrupcy falls off your credit file......After you have petitioned were you to apply for one of these you will be declined as they will credit check you as a new customer.....After you bankrupy drops off your files you will have no credit history whatsoever which is as detrimental as a bad record.........The catalogue and the book club generally report to CRA's so if you keep them active you will at least have some posative credit history to get you started again. ( should you wish to )
I kept an old catalogue going for this purpose. I also accidentally kept my mobile contract as my intention was to transfer it to my wifes name but it was too complicated and I simply kept it.........
This may seem a long time in the future but most people wish to have the convieniance that full functioning cards for example give you and short of using secured car loans ( yes car credit for example) NO THANKYOU or a sub prime mortgage it is difficult to start again.....
Something for you to think about anyway.
David
By skint1
#4912 I wish I had known that before I petitioned.

I would have liked to keep my catalogue account as I obviously won't get one now.
ByDavidc
#4917
skint1 wrote:I wish I had known that before I petitioned.

I would have liked to keep my catalogue account as I obviously won't get one now.

Sorry I didn't post it earlier......but it is it is easy for me to appear to be wise after the event....
David
By skint1
#4947 Do not worry :)

I hadn't thought about rebuilding a positive credit history that way.
I still have telephone/internet account in my name so that should help :)
By Jackie
#4948 Thanks for that advise I have account that I owed nothing to when I went B and still have it I may try to use it and see what happens
ByDavidc
#4962
Jackie wrote:Thanks for that advise I have account that I owed nothing to when I went B and still have it I may try to use it and see what happens


I just ordered 4 pillows, just to keep it going...mega discount as "such a good customer"
Well I am honest.
David