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andy c
Starting Member
United Kingdom
8 Posts |
 Posted - 06 December 2009 : 18:02:49
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well miracles do happen, i have managed to find the cash to go bankrupt so now i am unsure as to what will happen. from reading articles on this site it seems i can fill the forms in, go down to the courts with the cash and be bankrupt the same day, is this the case with every court or do they differ?
plus is there a chance i will get turned down?
i have 27k debts with a low paid job that with normal bills and rent doesnt leave me much per month, a car only worth £500 but has a leaky radiator and would be written off if i have a prang, a 2nd hand tv and an old laptop and not much else of sellable value.
my money problems are so bad that i doubt i will afford presents for my kids this year which sucks big time, so i dont want to get my hopes up to be dashed by a judge at the minute of my salvation.
thinking about going bankrupt and actually doing it seem miles apart and now i am close i am more concerned about the whole process. |
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debtinfo
forum expert
2826 Posts |
Posted - 06 December 2009 : 18:23:47
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Hi andy, At most courts you will be made bankrupt on the day you file your paperwork, there are one or two where you come back a week later. Some courts have a walk in service, some you have to make an appointment, best to ring the court and ask how they work.
There are two main reasons a petition may be turned down. one is if you are not insolvent (i presume you are), the other is if you have not taken any formal advice, the debt charities CAB,CCCS and National debtline count as formal advice so you do not need to spend money on this |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 06 December 2009 : 18:43:02
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Andy
well done on raising the funds to go BR
if you ring your local court (or even do a visit before you go Br) they will tell you the process alternatly check the Reviva web site http://www.revivauk.com/local-courts.aspx they have listed some of the UK courts and procedures.
now you have raised the funds to go BR drop an email to one of the experts, outlining your full cicumstances they may be able to offer some of your questions relevant to the unknown and BR
good luck regards Richard |
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andy c
Starting Member
United Kingdom
8 Posts |
Posted - 06 December 2009 : 19:56:39
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well i havent had any one tell me i am insolvent but i can arrange that, i have done my figures myself and its even worse than i thought.
so i will sort that out then ring the court, thanks for your replies. |
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andy c
Starting Member
United Kingdom
8 Posts |
Posted - 06 December 2009 : 20:06:52
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oh and one more question.
regarding bank accounts, at the moment i have two, 1 i use for wages and the other i havent touched and is empty but both are basic accounts, no cheque book, no overdraft etc etc, will these still need to be closed and then open the same sort after or will i be allowed to keep them open? |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 06 December 2009 : 22:00:44
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Hi Andy
in answer to your questions
basically, you are insolvent if you have more money going out than coming in and you cannot pay your debts !
do not rush into a court date, you must make certain that everything is in order first.
you then have a 32 page doscument to download / get from the local court, this is you and your financial history
depends on the bank account, you will be able to keep an account open but it should not be connected to any of your other debts people on this forum suggest a co-op cashminder, you have other options but you need to make certain that your bank is BR friendly.
are you really ready to petiton for BR ?
i do not have a check list as to what needs to be done
again good luck |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 07 December 2009 : 15:53:47
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A word of warning with the bank accounts - if either of the accounts are with HSBC or First Direct, they will close them down as they regularly trawl the insolvency register.
The Co-op is an excellent account if you do need to change.
The glimmer gets brighter all the time
Jan
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andy c
Starting Member
United Kingdom
8 Posts |
Posted - 07 December 2009 : 19:45:54
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well i wont rush into anything, i have the morning off work tomorrow to go to the C.A.B and talk about my debts, i can't see this being sorted any other way than BR, also i have the forms coming from the court so i have made a start.
as for my bank account, its not connected to my debts and its with Lloyds TSB. |
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 07 December 2009 : 20:16:24
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Hi
On the bank account, I concur with kallis, the Co-op Cashminder account is second to none.
The bank has an excellent philospohy on equality and being fair to all and in relation to BR, they are very understanding.
The counter staff and the on line staff are also very helpful and no, I am not on any commission!! Simply speak as I find.
Good luck, Richard
"There are no problems - only solutions..." |
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xmas has come early
