| Author |
 Topic  |
|
|
Topkapi.41
Starting Member
United Kingdom
7 Posts |
 Posted - 04 January 2010 : 16:42:54
|
| If you have no equity and no income yet, can you claim benefits whilst being made bankrupt? |
|
|
John
New Member
United Kingdom
73 Posts |
Posted - 04 January 2010 : 16:46:44
|
Certainly.
Bankruptcy does not preclude you from claiming any benefits.
John White
Independent Debt Consultant
Specialising in Bankruptcy |
 |
|
|
Topkapi.41
Starting Member
United Kingdom
7 Posts |
Posted - 04 January 2010 : 18:43:10
|
Thanks John
Just another quick question, I run a small business as a sole trader (kinda wish I had gone limited now!) however, what happens to those clients who owe me money, in some cases a significant amount, whose responsibility is it to recover their debt?
Thank you.
|
|
|
|
debtinfo
forum expert
2826 Posts |
Posted - 04 January 2010 : 18:55:50
|
| The money will be owed to the Official Receiver. The OR may or may not collect the money depending on the difficulty involved versus the potential gain |
|
|
|
Topkapi.41
Starting Member
United Kingdom
7 Posts |
Posted - 05 January 2010 : 10:26:59
|
| I have a car on HP with Toyota. It's annoying because I was sold and took out the PPI offered, only to be told now that I can't claim on it as I was self employed. However, Toyota advise me that even if I go bankrupt and return the car, I still have to pay for it. Wouldn't it make sense then for me to keep the car? Once bankrupt surely they cannot insist on me keeping up payments for a car that I won't even have? |
|
|
|
gettingoutofdebt
forum expert
2418 Posts |
Posted - 05 January 2010 : 12:31:06
|
| If you give the car up then any shortfall with be included in the BR. |
|
|
|
Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 06 January 2010 : 16:19:45
|
Hi Topkari
not being rude but you have confused me with some of your comments
are you ready for bankruptcy ?
I would suggest that with some assets and the car outstanding you need to speak to One of the experts (Paul @ reviva)who will help make certain that everything is ready for Bankruptcy
regards Richard |
|
|
|
Topkapi.41
Starting Member
United Kingdom
7 Posts |
Posted - 06 January 2010 : 21:09:17
|
Thanks Richard
I think Bankruptcy is the only route to be honest, but I am unclear as to how to go about it all and feel dreadfully overwhelmed.
|
|
|
|
Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 07 January 2010 : 12:21:45
|
yes it does seem over whelming
some people are able to complete the forms and apply for BR themselves, I found it easier having some one alongside me making certain that i was going down the right avenues.
I would recomend to anyone that unless your BR is straight forward get professional help.
The form filling is the easy part, the process is similar through out the country. The hard part i believe is planning the approach and directing the exit.
If you are feeling comforatble enough visit your local court A) you can find out the local process B) they have a booklet which explains the process and discusses Bankruptcy.
at the same time keep posting
regards Richard |
|
|
|
ONK
Junior Member
135 Posts |
Posted - 07 January 2010 : 13:58:29
|
i would highly reccomend speaking to Paul at Reviva - i was soooooooooo confused with everything , spoke to him and knew exactly what i needed to do , and none of it was scary at all. He also supported me through the whole process inc going to court with me.
Lyns
x |
|
|
| |
Topic |
|
can you claim benefits whilst bankrupt?
