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dazed and confused
Junior Member
United Kingdom
475 Posts |
 Posted - 04 July 2008 : 09:39:32
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Dear Forum
I am thinking about petitioning for my own BR. I owe £45,000 unsecured debt to 4 creditors.
I have a few questions I was hoping someone may be able to advise me on:
I currently have about £1,000 in my bank account. I need this money for 2 things - to get my car fixed up - it has an ongoing and expensive problem. Also, I am planning on emigrating to Canada in February 2009 (my girlfriend is Canadian and currently out in Canada) so I need to pay for a Visa, flights etc. Would I need to give this money to the OR? I really need it!!!
How long does the whole BR process take?
Can I choose the date which I go to Court?
Is there anyone e.g. CAB who would be able to check over my completed forms before submitting them?
I live in rented accommodation - would I need to inform my landlord of the BR?
I work for a Local Authority - would I need to inform them?
Sorry for so many questions!!! Any info. / advice would be much appreciated!!!
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dazed and confused
Junior Member
United Kingdom
475 Posts |
Posted - 04 July 2008 : 09:42:27
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Sorry...couple of more questions!!!
Can Student Loans be included in BR? They are the 'old style' ones i.e. started in 1997.
I am going to be entering into a 'Bike Loan Scheme' through my work where I pay a monthly amount back to my employer direct from my wages - would I be able to continue doing this once BR? |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 04 July 2008 : 16:09:48
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Hi Dazed and Confused,
Right then, let's begin...
1. Take the £1000. The OR knows you need money to live on and as this is prior to BR, you shouldn't have an issue.
2. The whole BR process takes 12 months. from court date to OR meeting is usually 2 weeks and as long as the OR can contact you by phone if needed, then you should be fine wherever you are (although if you are planning to leave the country, do let the OR know in advance).
3.You can chose the court date. Check with your local court as some you have to book in advance, and others, you just have to be one of the first few to turn up that day!
4. Try the CAB, but they are overwhelmed at present. The only other option would be to engage a bankruptcy specialist firm.
5. The OR will inform your landlord in case there are any rent arrears.
6. The OR will also write to your emplotyer to put you on a NT 9no tax) tax code, but prudence suggests that it always better for your employer to hear it from you rather than a third party.
7. Student loans are exempt from BR.
8. If this loan scheme is similar to season ticket loans, then you should be fine.
Hope this helps.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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