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Hello, please can anyone tell me if an IVA is rejected for whatever reason and I have to file for bankruptcy, I know that details are published in the local newspaper and I'll be on the register online, but can people like nosey neighbours request or go somewhere like the courts to see full details of my incomings and outgoings as I really don't like the idea of them knowing all the in's and out's of my debt problem? Just how much information can they request? Also it would be be that would be bankrupt, how will this effect my partner and out future mortgage chances if we need to move because of the embarrassment?

Other than the paper and the register, your neighbours shouldn't be able to find anything out at all.

The notice in the paper is very small, so unless people scour all the small print in the paper they may not see it.

I wouldn't be embarrassed at all. You don't know if any of your neighbours might be in the same position.

I'd hold my head up high.

Hi Jan

Thanks for your reply, you're always so helpful!

I was stood in the queue at the local post office today and they were talking about how many people are in Wednesdays edition of the paper declaring bankruptcy and that they all have a good look, so I think the neighbours would see it and as for the register, when I found out about it, (which I only did through this forum, so if you don't know about it or are on/about to be on it, there isn't much chance that you would come across it by accident), I did a search for my own neighbours and they all came up blank, I was hoping to be able to have a local sympathiser, so I'm more nervous than ever.

We've been down on our luck recently and had to go on benefits without anyone knowing, so are you sure that they wouldn't be able to find out?

Thanks

I can't say that they won't find out, but I doubt they know about the register.

If they are sad enough to scour the paper for bankruptcy notices, then there must be something lacking in their lives. Obviously, they would see your name in there.

I wouldn't look on the black side though - I am sure it won't come to that.

You always seem to make me feel better in my darkest days - Thank you Jan, I appreciate your help.

Glad to have been of assistance.

I don't think anyone saw my BR notice apart from my uncle. He knew I was going BR and was looking for it so he doesn't count! If anyone else did see it they didn't mention it. I know if I saw that someone I knew had gone BR I wouldn't have the front to mention it!

Good luck, and I hope it doesn't come to BR x

Hi Skippy13

The people who live around here are all what my mum used to call "Hollier than Thou" which means that they are all hypocrites and they tittle tattle about the smallest things to each other. I've never fit in round here as I don't like talking about people behind their backs which is why I queried mortage chances for my husband in case we have to move. He is the main earner and could get a new mortgage all in his name if we had to move, but I wondered how me being bankrupt would affect his credit rating? Please let me know if you have any idea.

Thanks

No-one at all can find out any details about your individual circumstances, unless they are a creditor - so don't worry on that score.

The benefits that bankruptcy will bring to your finance, should far outweigh the gossiping of a few nosy neighbours, and people will be eating chips out of the newspaper on the following day and talking about someone else by that stage.

Don't let this put you off. Bankruptcy proceedings are ideal in a number of differing scenarios - and you should not be worried about following this route if it is the right way forward.

I'm not sure how your BR would affect your husband's credit rating - do you have any joint debts? Hopefully one of the experts will be able to confirm.

My partner and I lived together but had no joint debts, and he managed to get a mortgage whilst I was BR.

It would affect a spouse's credit rating, as you cannot disassociate from a spouse unfortunately.

Thanks for your replies, they are very helpful.

Can you tell me if we have no equity in our house with the house prices dropping, but the mortgage is in joint names, before proceedings start should I change the mortgage over to solely my husband name to protect the house? Also I am trustee of my childrens savings account, they only have about £1000 in each but most of this was given to them by their grandparents, can these be taken off the kids?

Your kids money should be ok I think.

I don't think you can transfer the mortgage across. I believe the OR can reverse it if they believe it has been done below market value.

There will be no need to do that if you have no equity - it is only the equity sum which is captured under bankruptcy proceedings and not the bricks and mortar themselves.

The children's money will be safe as well, by the very nature of the trust which you have already established.

Melanie, going back to the point about disassociation, this was posted on the forum a while ago and the link seems to suggest it's possible...

http://www.iva.co.uk/forum/topic.asp?TO ... ssociation