Just check with the bank what their policy is on BR's. The OR told us they had no problem with the bank account, but Halifax refused to unfreeze the account as their policy is " No Br's".
Hi there, Thanks for your reply. That has added a new question. We are with Halifax for all our banking(ie wages in, mortgage,loans etc). What will happen if the Halifax refuse to allow our new bank to be able to transfer all our incomings and outgoings to them. Can Halifax legally refuse the transfer because we are well into our overdraft. We dont mind the account being frozen for a while but if this is true about the Halifax could they refuse the transfer and also refuse to un freeze the account even after wages are paid into it. What will happen if they refuse the transfer and my wages get paid into the account,does that mean they will keep my wages to go towards the overdraft/debt being paid off.
The OR will order them to release funds, so don't worry. All Halifax can do is refuse you to have an account. You can open an account elsewhere, get your wages paid in and set up any transfers again. A bit of a pain I know, but it really isn't that bad.
Hi there Hope, I have just gone BR myself. I had already changed to a Co op cashmninder for wages etc because my largest OD and debt was with Nat West. basic account with an electron card so you canget Internet banking and pay in shops and petrol.I think you can apply over the phone /internet
I got advice from 2 IP's Br One locally and over the phone with Melanie Giles. Filled in online. Took /submitted papers to Court admin as they have to be witnessed/sworn legally Absolutely great sympathetic staff and Judge. Judge just wants to know that you have taken advice and doing the right thing, Not judgemental at all.
Went in a room whilst the OR office was telephoned. This was 15 minute interview to check details , d o b , bank aacounts etc correct info on form whenthey established that I had no credit , checque , Od etc on account and it was only basic -said they would not freeze. Then you have a 'proper' interview with OR either fsce to face or a tel one lasting about an hour. The OR sends you a pack of papers and apparently what they want from you eg bank statements payslips etc to prepare. Do not know anymore as I have had to wait over 3-4 weeks now Started panicking so rang the Or office whoagin were very nice but explained -no probs just a great backlog and i wouldbe getting my pack this week They have already written to mortgage. I was going to try and keep in the house till it sold but have now decided to let it go Vol repo before my 12 mths discharge as I do not want to be lumbered with a big neg equity debt.
Glad it is all moving along for you. I think the ORs offices have a tremendous backlog of work at present, and it is only going to get worse given the current climate.
thanx ivas4us i bet she's a little sweety aswell our daughter is our little ray of sunshine (with just a hint of attitude lol)
Thanks for the info aswell jripley and melanie much appreciated we won't be so worried now we no the OR's backlogged. Will keep you's informed of our progress!! take care x
Evening everyone hope you're all well got a stupid question to ask....... Just sorted out our payments for bills to be payed and realising this will be the last time these companies are going to be payed should we let them no what our intensions are (going bankrupt) or leave this to the OR in which case if these guys are so far behind we're going to be getting some pretty hasty calls from creditors in the near future what exactly do we say to them??
Thanks Melanie do we tell the creditors on the phone of our situation if they get in touch with us also do we tell our mortgage company and s.loan company of the situation and will this effect the current rate we're getting on the s.loan if they no we're bankrupt(s)
Yes - it is a good way of getting rid of them quickly!! The mortgage company and secured loan company will not be affected by your bankruptcy, so long as you confirm that you will be continuing to make the payments post-bankruptcy.
Good luck hope4us - did you take the professional advice before deciding that bankruptcy was the right route?
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Hi David, thanks for that, yes we discussed our options with several companies and the outcome was the same, although it is daunting not really knowing what the future holds for you, especially in regards to how your going to treated once your mortgage company knows you've been made br, what sort of rates you're going to offered etc, there has to be a point when you say enough is enough and take the plunge to doing something about the situation you've got yourself into. In our case we have nothing to lose in declaring ourselves br (not even our home as we're in neg equity) no-one would give us any more credit so we could consolidate,(even though we've never missed any payments on anything and always payed over the minimum, we've practically lived to pay bills) and our creditors wouldn't freeze any interest on our payments so we could put food on the table. We weren't asking for them to write off the debt just to give us breathing space for a couple of months then add it onto the end of our aggreement(s) Every month we've borrowed off peter to pay paul and now with no improvement financially this is our only option, not one taken lightly we're nervous as hell but you have to put these things into perspetive and if we can get ourselves out from under this burden of debt then it has to be a good thing, and as far as the advertisement in the local paper well kay sarrar sarrar it'll give the nosey sods something to talk about for a few days no-one will be knocking on our door wanting to borrow a couple of quid lol, Thanks for your support to each and every one of you, this site is a blessing!! x
