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| T O P I C R E V I E W |
| west mids m |
Posted - 22 June 2009 : 10:42:34
Hi guys,
I Hope I find everyone well. So after a month of “hiding my head in the sand” and a weekend of phone calls and letters its time I take some sort of charge of my mess.
Can anyone help me with the following few questions to start of with;
1) Bank accounts during and after bankruptcy, I have one active bank account now (I closed my only other account last week) this is with Natwest and is their basic account. With solo debit, no overdraft, no cheque book. I use this to pay all my bills etc from. Would I be allowed to continue to use this account or will I need a new account?
2) Mobile phone contracts, I know this is a stupid one but do they have to be listed as a debt or can I continue to use them ? I have 3 one for myself, and two that I get paid for by third parties. I just need to know what I should do about these in advance.
3) Assets; what is considered by the courts as assets? I have a collection of CD’s, DVD’s books and a few other bits and bobs. I would say not great value, that of less than £2000 in total and that’s if I was to sell the Hi-F, TV’s DVD players etc. Would these items need to be sold off after the bankruptcy? I know I’m Ok with my car as its worth about £500 and I believe my old pension is safe (value aprrox £8000), although I am unclear on this. I have no capital saving, and no expected income from other sources, although I have sold some bits recently on e-bay to buy food. I’m concerned about selling too much off as would this fall fowl of the disposal of assets law I have read about. I don’t think my CD collection is really that important but I need to know the facts.
There is a lot more I need to know but don’t want to take up too much of anyone’s time.
Any help and advice is a god send right now and pretty much a life saver (literally)
TIA
Martin
Who really needs to sort this out :O(
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| 5 L A T E S T R E P L I E S (Newest First) |
| west mids m |
Posted - 24 June 2009 : 09:36:07
Hi Guys, things are slowly coming together. It looks like my only option, still not 100% sure its what i want to do but with less money and more debt dosn't seem any other way out. Will be contacting CCCS and CAB to see what my next steps should be..... thanks for all the replays they do help.... cheers martin |
| frosie90 |
Posted - 22 June 2009 : 20:17:50
Hi there, I had Step account with Natwest same as you. No overdraft, no cheque book and no debts associated to it. I listed it on the SOA but when I had my OR interview I asked about it and he said they would have no interest in it as it had no debts occurred. Still using the account fine and I went BR 7th April. OR call end of April. I went into Natwest at the time and they were really helpful and said that the Step is the one they offer to BRs so reckon they are BR friendly. Certainly, so far, in my case.
Best wishes
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| Sparkle83 |
Posted - 22 June 2009 : 11:51:59
we had several laptops, all more than a year old, loads of games consoles etc, and the OR wasn't interested. They told me they'd be looking for jewwellery/art/antiques/brand new tech stuff worth more than 1,000 per item.
Weeks of BR
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| xmas baby |
Posted - 22 June 2009 : 11:41:11
Hello Martin,
I was declared bankrupt in March of this year and I had various personal effects, such as dvd player, television, hi-fi and numerous dvd's and cd's, but they were of such little value, the OR wasn't even interested. I don't think you have anything to worry about on that score.
I also opened a co-op cashminder account before I went bankrupt and informed both the bank manager beforehand and also the OR was I had become bankrupt. I have my wages paid into this account and also all of my direct debits set up and I have had no problems whatsoever so far. I cannot comment on Natwest as they were one of my creditors in the bankruptcy.
Hope this helps
xmas baby |
| stressedoutsteve |
Posted - 22 June 2009 : 10:57:08
Hi Martin, I went BR 8th May but am by no means an expert! However I can tell you I had two small pensions amounting to about £3K annually which the OR declared 'No Interest' in. I also had cd's dvd's books etc whcih I was advised not to bother listing as they are pretty much valueless second hand. If you want to list them I would suggest a nominal value, say £50? Hope this helps.Steve.
P.S. BR was agood thing for me, stress almost gone. You can start again. |
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