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T O P I C R E V I E W
grant59
Posted - 12 March 2009 : 07:31:04 I got made redundant in Jan 09 and I have 2 loans with the halifax, one of them the biggest one is covered by insurance which I have not yet claimed for, I have just continued to pay but I am now running out of money and there are no signs of any work.
I was considering BR however should I still go ahead and contact the insurance people?
Even if they cover some part of the repayments for the first year I still cannot afford to pay off the unsecured loan and the credit card so I will still be seeking BR or should I just file for BR regardless?
I am very worried about how this will all go because I got myself into debt purely through gambling and my wife shares a joint account but she knew nothing of the debt until recently, after reading the forums I see something called BRO or BRU which I don't really understand what this means to me.
Many Thanks Grant
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John
Posted - 12 March 2009 : 08:05:18 Hi
it would seem if you will declaring bankruptcy anyway as you are unable to service payments on the balance debts, that to claim through the insurance is pointless as that debt must be included in the bankruptcy as well.
You should inform the OR when you declare bankruptcy of the existence of the insurance policy as there may be some way for them to realise some funds in that way for the benefit of your creditors.
