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Colin.14
Starting Member
1 Posts |
 Posted - 13 May 2010 : 00:09:11
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I went Bankrupt in March 1st 2010 i recevid 1 bill of 380 College bill which is from april 2010 then a ISC Destance learning Credit aggrement of 44.90 a mouth for 10 mounths i cant afford the repayments so i got a total of 764.90 in credit after my bankrupcey which im still bankrupt i told the Offiacal recevier this and Posted the Paper work. Im I In Trouble for this is this going to end up in court or will i get a Bankrupcy restration order?
Please Help so i can Prepair myself for It The Offical Receiver is looking at paper work. |
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Bridgewood
Junior Member
United Kingdom
222 Posts |
Posted - 13 May 2010 : 10:26:40
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Hi Colin
I suppose the short answer is, it depends!
If I understand your post correctly, you have incurred two debts after bankruptcy for £380, and £449.
As you have sent the paperwork to the OR there is not much more you can do at this stage.
It partly depends on when you applied for the credit, as much as when it was granted - if you applied prior to bankruptcy it may be okay
The law says you can't apply for credit after bankruptcy for more than £500 without disclosing you are bankrupt (but the £500 is per lender), so even if you applied for these after your bankruptcy, you may not, technically, have committed an offence.
It won't end up in Court, and I'd be surprised if you got a bankruptcy restriction order/undertaking as a consequence, but, after you get a response from the OR, if you're still concerned or confused please come back
Bridgewood specialise in helping people deal with their debts and make the most of their financial situation - providing free, no obligation debt advice.
We can also setup a complete range of solutions including debt management plans, IVA and bankruptcy support. |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 13 May 2010 : 10:58:19
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Hi Colin
I think the rules state that you cannot obtain more the £500 credit without informing the other party of your bankruptcy, not you cannot obtain the credit.
yes the OR will ask you why you have taken out credit but the answer you have supplied above should be acceptable, to improve myself and open up job opportunities
are you continuing with the college course ? If not it may be worth asking the OR to include the fees in your bankruptcy.
concentrate on your DLC course, it may take your mind of the bankrutcy process, good luck in fully understaning the course and using it to your advantage in the future.
you may even (subject to a nice OR) be allowed to claim the £44.90 as part of your incoem and expenditure,
good luck Richard
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I went Bankrupt in March 1st 2010
