Aaaarrrrggggghhhhh - HELP!!!

[snowman365]

I think I am going to go straight for BR now, and forget the DMP / IVA - I know I am going to have to go BR eventually anyway so I might aswell bite the bullet and go for it now and not waste everyone's time.

I need to hold out until September though - I need one more full ay from work to get the money together for the BR - should I just tell the creditors I am going BR in Sept.?

Anyone got any advice regarding letting my work / landlord know that I am going BR? Should I write to them? Who would I need to tell at work? HR? My Manager? Payroll?

[MelanieGiles]

You don't need to tell anyone about your bankruptcy plans, but of course it would be a good idea to keep creditors informed.

[Soulgrowth]

Probably not a bad decision at all Snowman. I am sure that it will help to alleviate the stress.

Are you in a job where you would necessarily have to tell your employer about BR? If not, I don't see why you need to let them know. I believe that your tax code will go to zero at some stage but this could be for a number of reasons.

Are you renting privately or through an agency? I suppose it would be a matter of courtesy to inform them of your decision.

As for your creditors ... the idea of BR is that it will relieve the stress for you ... so I wouldn't worry about contacting them if your BR is likely to be imminent, it may only stir things up.

All the best

Debbie

[Soulgrowth]

Ooops ... conflicting advice there Snowman ... go with Melanie's advice though [:)]

Debbie

[snowman365]

I read somewhere that I would need to tell my Employer and my Landlord that I had been declared Bankrupt.

Surely they would find out one way or another at some point anyay? Surely it would be better to come 'from the Horse's Mouth'?

I work for a LOcal Authority.

Would my TAX Code not be set to '0' afterwards?

If my Manager is going to find out, I would prefer that it came from me. But, if you are sure they would not find out then I would rather not tell them. I don't mind if HR / Payroll know...they are just colleagues but my Manager has been very good to me and I would not want to appear to be dishonest with them...

[MelanieGiles]

There is nothing stopping you telling your Manager, so if you feel that this is the right thing to do then go ahead.

You are very likely to get a zero tax code - but this is only likely to go to your payroll department who are likely to not bat an eyelid.