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synaesthesia
Junior Member
233 Posts |
 Posted - 29 September 2008 : 23:14:59
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Sorry, I keep asking so many questions but it's all helping to keep head together :)
First, when going bankrupt or have gone bankrupt, what happens to things like insurance payments? Car insurance, home insurance etc is basically credit when paid in monthly instalments. Would they be ok to continue?
Second, and the biggy for me at the moment. Last company I worked for went bust, owing us 1.5 months pay, and naturally we're now owed redundancy, holiday pay and notice pay. All except the notice pay is coming to us apparently this week through the insolvency service, which we intend to use to go bankrupt with. However, we are also being sent a form RP2 to claim the notice pay. So, this amount, likely to be 1 months pay or circa £980, will come to us after bankruptcy. We really need that to stock up on newborn baby things as we're running out of stuff fast, as well as pay off what we owe on council tax (being a priority debt although that's the council's fault, not ours ;) )
So, will we just lose that 980 quid outright? Would I be able to have that sent elsewhere? Or should we wait until we've received that also (no telling how long that will take) before going bankrupt and as a result severely annoy our creditors and put up with more of their moronisms?
And 3rd, talking of babys, we've not long opened another account with our bank (Barclays, who are not and never have been a creditor) for our baby son which contains his trust fund and gift monies from people. But of course this is under my wife's name who is also going bankrupt. Can I assume that 1. this money won't be touched and 2. the account would be unfrozen once the OR has said they have no interest in it? |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 30 September 2008 : 08:24:05
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Hi Syn
I will help where i can.
The insurances and utilities were all ok as long as they were paid as in DD's.
As for the money your waiting for im not sure. Maybe one of the other experts may be able to advise.
The account should be OK as long as you tell the OR and also do not at the moment continue to put any in until after discharge.
Hope that makes sense.
Jo x
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
For links to help with Bankruptcy, useful web pages and also a run down of my new debt free life, both before and after Bankruptcy, then please visit my blog:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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RHB
Senior Member
1159 Posts |
Posted - 30 September 2008 : 08:27:56
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| You will be able to get a payment from the govt towards buying baby things, I hink it's about 500 if you are o a low income. |
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Suzanne
Average Member
United Kingdom
869 Posts |
Posted - 30 September 2008 : 09:40:53
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Hi
Don't worry about paying the council tax as that will be captured in the bankruptcy.
The notice pay would usually be required to be paid into the estate, however if this is your only income the OR may allow you to keep it.
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
www.jonesgiles.co.uk
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Few more questions.
