Bankruptcy Questions

[loadsadebt]

Well I don't have £400 a month that's for sure!

There are out takes from Army pay but I guess as long as at the interview stage I am less that £245 that's all that matters!!

[chris.g]

The thing is until you are discharged from bankruptcy you will be obliged to inform the OR of a change in pay...so it's not just for the interview stage. check out this link, it should answer some of your questions,
http://www.insolvency.gov.uk

[Reviva UK]

Hi loadsadebt

good news that you have decided to put an end to the stress one way or another.

There are obviously a lot of things going on and you need to carefully consider each action and consequence and realise the implications prior to Br.

If you sold the bike to your dad that is fine but did he actually pay for it or was it in lieu of a debt? Also do you have a sale agreement?

There is no reason why you shouldn't get a bank account in your own name - and if you get the right one then you will be able to keep this through br.

Also the IPA will be fair and accurately reflect your disposable income but you just need to ensure you fully claim your allowaces.

hope this helps

[loadsadebt]

Oh I understand that Chris, I just meant as far as my army application was concerned!

Thanks Paul, it was in lieu of debt as I wasn't working at the time but there is no sale agreement...

I understand the implications of BR but it really is the only way as my debts are 75k +

[chris.g]

Oh sorry, my mistake. Would you not need to declare any change to the army or is it a case of once your in it's ok?

[Reviva UK]

You would definately need some careful advice regarding the motorbike as potentially the OR may look at this as preferential treatment of a creditor ( your father over other banks) . In addition as the log book has not changed you are probably still benefiting from the use of the bike so currently alla little iffy.

[loadsadebt]

Once you're in...


Ok, thank Paul, I kind of assumed it would be lost so I guess it would just be something to discuss with the OR.

I am now doing an application for a co-op bank account, will they not refuse it because of my terrible credit rating?

[Reviva UK]

No but make sure it is the CASHMINDER account
i would be surprised if they turnd you down. It is the standard account i open for all my clients in Br

[loadsadebt]

Ah, I don't think it was!

[chris.g]

that's the acc we have, it wasn't even frozen after we declared, just carried on as normal. Good little acc as well, got not overdraft so that's a definate plus!!! lol

[loadsadebt]

So I've just checked my credit with Experian, and I seem to be short a few debts!

Suggestions?

[chris.g]

You may need to try the other's, experian and callcredit, I think that's what it's called

[wtp]

Hi every one, can any one help please? my partner and I were made bankrupt 2nd Aug 2007 and are due for automatic discharge on 2nd Aug 2008, which is great! During the period no payment orders have been made as neither of us have worked, As we are supported by our families after closing the business. The question I have is, after the automatic discharge can payment orders be applied? and are we free to just get on and earn what ever we want? because I have been offered a good job with good very pay, and want to except but obviously don't want to have to pay..... I said I can start on the 4th Aug 2008 but just want to double check.. Many thanks and I look forward to hearing from you.

[chris.g]

Once you are discharged you have no obligation to contact the IP to inform them of your employment.

[stuffed]

Hi Paul,
If we open a cashminder account now will it be frozen when we go br in a months time?