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| T O P I C R E V I E W |
| suei |
Posted - 19 January 2009 : 17:18:45
Hi, i have been a full time carer for the past 4 years(which is a taxable income). I have taken out a creditcard with small limit whilst doing this. Will this be classed a fraud in bankcruptcy?. I did this in good faith as i class my job as a carer as being work although not very well paid?. mant thanks |
| 11 L A T E S T R E P L I E S (Newest First) |
| sjbyron |
Posted - 19 January 2009 : 23:35:32
Hi Suie thats great, shall we share Email addresses? Illl find out how to with Admin, hopefuly.
Im going bankrupt next Monday, im a nurse but currently on long term sick with depression, just got rid of my car as cant afford it and its repairs on sick pay.
Ill be online for a long while, ill get intouch with admin, however you can work out my email its my alias @aol.com if you know what i mean
Speak soon
sjbyron
Stu J Byron |
| suei |
Posted - 19 January 2009 : 23:33:16
That would be great Stu thanks, when will you be online again, as i have a few carer thing to do for the rest of tonight?. Have you been done the same road as me or do you just post helping people? Many thanks for all your efforts tonight my head is spinning with all the advise i have got from different companies, im worse than when i started. I know its my fault maybe when i worked i did spend freely but not extravagant, but its just so confusing with all these debt companies i dont know who is trying to help me and who is trying to con me. Very happy to do some sort of plan with you help if you dont mind spending the time. Any advise or pros and cons i would be grateful for. Many thanks
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| sjbyron |
Posted - 19 January 2009 : 23:23:28
I dont think you need to worry about the credit card, as you have made contractual payments to it every month, I would send them a letter and say that you are struggling with the payments. As you are recieving benefits I think you will get the court fee waived of £150 leaving about £350 to pay dependent on where you live.
You need to change that idea of a personal statement I thought it was yourself who was ill, I apologies for getting the wrong idea there.
I assume your husbands illness is degenerative and therefore is getting worse and worse and causing pressure on the family unit as a whole?
You need to change your bank account straight away, Cooperative Bank are a bankruptcy friendly bank if you are on the electrol roll you can go with them, otherwise its the managed bank account services such as think and onebanking.
I dont think you have to worry about Fraud as you havent took £2100 from it, and then gone bankrupt the next day in that case it would be fraud, and a restriction order. You borrowed it on a cumulative basis over a year and made contractual payments to it, but due to family situations you cant meet your debts.
Right you need a plan of action from now, do you want to work one out together?
Stu J Byron |
| suei |
Posted - 19 January 2009 : 23:18:14
Thnaks Stu you must be knackered with all this! I bank with barclays and owe them the most money, barclaycard, personal loan,goldfish which is now barclays so i would have to change my account i know. I am really worried about this fraud thing i never ever even though about it as fraud, how thick am i!. Is there a custodial sentence for this im really worried now. Can just see it me given up work to look after my partner who is very sick and i end up in prison OMG!!!
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| sjbyron |
Posted - 19 January 2009 : 23:03:06
Hi
For that amount of debt you are looking at an offer of at least £17,000 plus some companies charge £500 as a fee to setup.
if you have no assets and your vehicle is below the £1k threshold and this debt is truly unmanagable then yes I would go BR.
I think you will be ok with the credit card, you just need to make sure that in your reasons for bankruptcy that you put a paragraph in regarding this credit card for example.
"I have been working as a carer for X amount of years, and was very passionate about my career, I did develop a large amount of debt over that time but managed to meet the agreed contractual payments, and held a good credit record, unfortunately my health deteriated, and I had to leave work and go onto long term sick benefit, and therefore needed financial assistance, fortunately I had a strong family support network at first and so the contractual payments where able to be paid, unfortunately my father passed away recently and I could no longer afford to meet the payments, I feel into the typical credit trap of "borrowing from Peter to pay Paul" and utilised a credit card for this, however the repayments became too high and on the level of benefits I am recieving with regular changes and reviews I feel that bankruptcy is the best option"
That would need padding abit.
You can apply for bankruptcy online at http://www.insolvency.gov.uk
And you need to inform your landlord regarding the bankruptcy as he would need to write you a letter to confirm the rent amount per month, whether their have been any arears and what the rent includes, he would also need to state that he is happy for you to keep on renting.
Also who do you bank with, and do you have debts with them
Ill be online for the next 2.5 hours,
Keep in touch
Hope it helps
Stu J Byron |
| suei |
Posted - 19 January 2009 : 22:44:29
Thanks Stu for your time on here tonight and your advice. I have no assests, live in rented accomodation, do have a car only worth £600. I have worked 30years fulltime up until last 4 years hence the level of debt 40k. i had never had trouble repaying them whilst working. i did not see this happening to my partner my life has been turned upside down. i know i need to go bankcrupt but im worried about what would happen to me if i was guilty of fraud over getting my last credit card, the limit was 1,200. When i applied for it 12mths ago i wasnt even thinking of bankcruptcy, my father helped me a lot financially because he felt so desparately sorry for the illness i was having to deal with, however he sadly passed away 6mths ago, hence adding to the situation i am now in. Do you know what sort of figure i would be looking at for a full and final settlement on this amount of debt? Thanks for all your help.
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| sjbyron |
Posted - 19 January 2009 : 21:53:59
As i understand from your post, you are a carer for someone for your family, and therefore recieve carers allowance as benefit, is this correct?
How much do you owe?
Do you have any assets i.e a car, house, expensive household items etc.
An IVA is out as you main source of income is benefits, and for an IVA to work you need to have a stable income, saying that, if you were able to raise enough cash say from remortgage of the house (if applicable) or if another family member lends you the monies then a full and final iva could be available to you
You could do a DMP, however I dont know your level of debts, nor your total outgoings and surplus money, it could be unrealistic for this route e.g if you had £100 a month available ofdebts of 50k it would take 70 years to pay back.
Stu J Byron |
| suei |
Posted - 19 January 2009 : 20:39:24
Hi Stu , yes ive made all contractual payments £25.00 per month never missed. I havent told them about BR as i really dont want to do this but feel ive no option. My income is mainly benefits do to being a carer, my disposable in come to pay all creditors is about £150 per month. ive been told i cant do iva as i get benefits or dmp? Can you advise me any other route?. Many thanks
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| sjbyron |
Posted - 19 January 2009 : 19:36:57
Hi
Have you used other the last 12 months, and have you made the minimum contractual payment usually 2 to 5% of the bill each month, have you informed them that you are thinking of going bankrupt.
Have you defo decided on BR, Or have you/are you looking at other debt management such as informal arrangements, debt management plans, IVA, Full and Final IVA etc.
Thanks
Stu J Byron |
| suei |
Posted - 19 January 2009 : 18:32:58
Hi Stu, thanks for reply, i took card out about 12mths ago, i havent missed any payments but i realise i have to include it if i go bankcrupt. I havent set a date yet still milling with the idea. Kind regards.
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| sjbyron |
Posted - 19 January 2009 : 17:31:09
Hello
When did you take this card out, and when are you going bankrupt.
Understandibly, if you are going bankrupt you are in all effects holding your hands up and saying you are unsolvent and unable to pay your debts, so if you have taken out a credit card just prior to bankruptcy shows that you are not being fair to your creditors and that you are taking on debt which you know you wont repay therefore yes that would be fraud.
Please reply with the date you took this card out, the amount used, the reason why and the date of your bankruptcy.
Stu J Byron |
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