Do Your Own Debt Consolidaton And Save! Know Exactly When You Will Be Out Of Debt, And Sooner Than You Think. No: New Loans, Credit Checks, Monthly Fees, Discussing Your Situation With...
Debtors Bankruptcy Petition Form
Mar 6th, 2008, 8:43pm
Hello, I am new here and am hoping someone can help me to complete a Bankruptcy Petition form.
It's not actually for me, i am helping my stepson. They have decided to go bankrupt after years struggling to keep up with their debts to the point where it is virtually impossible to see how they can ever be repaid. They have investigated all the available options to them and bankruptcy seems the only sensible course of action. It is not a decision they have taken lightly.
It is a personal bankruptcy (no buisiness involved).
The statement of affairs is pretty much in order now thanks to all the kind people involved in sites like this where we have found lots of useful information. Unfortunately the Bankruptcy petition, though only a short form, has me a little confused.
Here's what we have so far:
Name and address.............................Got that, no problem also known as................................... No other names, do we just leave it blank? lately residing at................................No former addresses. Leave blank? and carrying on business as................None. Leave Blank?
1/ (My centre of main interests has been)(i have had an establishment at) ......is this his home address or does this just deal with business premises?
2/ I have for the greater part of six months immediately preceeding the presentation of this petition (resided at)..............His address again presumably. within the district of (this court)...WALSALL.....county court. I am presenting my petition to this court, as it is the nearest full time county court to......??????????.....county court........ Don't understand this. Is it just for if you apply to a court other than your nearest one? So there is nothing to complete when they ask you to state reasons?
3/ I am unable to pay my debts...........Nothing to complete there.
4/ I have not been adjudged bankrupt.........He hasn't
None of the other questions seem to apply as he has not been adjudged bankrupt or entered into any IVAs and is not subject to any administration orders. So do we just leave them blank?
When they collected the forms from the court they were not supplied with any guidance notes or anything so if the answer to these questions seem obvious please accept my appologies but they don't want to be felled by the first hurdle. The hearing is on 25th March so there is plenty of time to go over and over the Statement Of Affairs but no amount of staring at the Bankruptcy Petition will clarify the legalese.
Thank you very much to whomever can point us in the right direction with this form and may i say what an excellent site this is for helping people who feel there is nowhere left to turn.
Will keep you posted as things develop
plumduff
Administrator
Re: Debtors Bankruptcy Petition Form
Reply #1 - Mar 6th, 2008, 9:37pm
This part of the forms is horrendous isnt it...
But, if you leave it blank the good ole BR clerk will complete it with you...
Name and address.............................Got that, no problem also known as................................... No other names, do we just leave it blank? yes lately residing at................................No former addresses. Leave blank?I think I put the address again here and carrying on business as................None. Leave Blank? yes
1/ (My centre of main interests has been)(i have had an establishment at) ......is this his home address or does this just deal with business premises? home address, cross out main centre of interest
2/ I have for the greater part of six months immediately preceeding the presentation of this petition (resided at)..............His address again presumably.yes within the district of (this court)...WALSALL.....county court. I am presenting my petition to this court, as it is the nearest full time county court to......??????????ignore.....county court........ Don't understand this. Is it just for if you apply to a court other than your nearest one? So there is nothing to complete when they ask you to state reasons?
3/ I am unable to pay my debts...........Nothing to complete there. TICK
4/ I have not been adjudged bankrupt.........He hasn't TICK / CROSS OUT THE SECOND BIT - THE OR QUESTION
None of the other questions seem to apply as he has not been adjudged bankrupt or entered into any IVAs and is not subject to any administration orders. So do we just leave them blank? DO THE TICK/CROSS OUT THING ON THE OTHER QUESTIONS TOO
Dont worry about getting anything wrong on the forms, the BR clerk knows the are long drawn out forms and knows peope make mistakes filling them in..thats why the BR clerk goes over them with you...
Please cmplete the full I&E on here.. as well as personal circs.. ie - married two kids, whatever.. We try to ensure people are putting all the expenses down that they are entitled to.. other sites might not have this down as the main priority..
oldgit
Topic Starter
Newbie
Re: Debtors Bankruptcy Petition Form
Reply #2 - Mar 6th, 2008, 9:43pm
Thanks PD, i really didn't expect a reply so quickly. That will be a massive weight off their minds, couldn't find any help on that one anywhere. You are a gent!
plumduff
Administrator
Re: Debtors Bankruptcy Petition Form
Reply #3 - Mar 6th, 2008, 9:48pm
Im a lady....! (you have to say that in a David Walliams voice)
But please remember - dont worry about flucking up the forms, the clerks are great and very understanding...
But please advise your stepson to take our advise about his income and expenditure side.. We are very experienced in these things..
oldgit
Topic Starter
Newbie
Re: Debtors Bankruptcy Petition Form
Reply #4 - Mar 6th, 2008, 9:55pm
oops, forgot, will put full I&E down tomorrow when they come and see me.
Thanks again
oldgit
Topic Starter
Newbie
Re: Debtors Bankruptcy Petition Form
Reply #5 - Mar 7th, 2008, 1:55pm
As requested by Plumduff (who is a lady lol), I&E for my stepson.
He has a wife and five children aged 10, 7, 5, 4, 2 He is currently unemployed so recieves full housing and council tax benefits.
Expendature (monthly)
Rant Arrears 12.00 C/tax Arrears 20.00 Housekeeping 730.00 Gas/Elec 117.00 Mobile 25.00 Travelling 100.00 pets 15.00 Clothing 120.00 Contents Insurance 11.00 Water/Sewage 16.00 Car Tax 11.00 Mot 3.00 Car Maintainance 20.00 Car Insurance 50.00
then go down to technical section near the bottom and click on technical manual
then go down to realisation of assets - chapter 31, click on this
then click the 31.7 - introduction to IPA's and IPO's
then go down and click on part 2
the main ones are 31.7.19 & 31.7.24
Cath xx
oldgit
Topic Starter
Newbie
Re: Debtors Bankruptcy Petition Form
Reply #8 - Mar 8th, 2008, 2:43pm
Thanks Cath that is very interesting.
I guess that since no IPA will be sought at this time, then it is ok for the I&E to show a small amount of disposable income, even if it is all made up of benefits. The I&E will of course need re-stating when he gets a job. But even if and when an IPA is arranged they can't be worse off than they are now. I suppose you can't go wrong if you just tell the truth and obey the OR.
And thanks to bunny too, i'm sure they intend having the forms looked over before the big day.
plumduff
Administrator
Re: Debtors Bankruptcy Petition Form
Reply #9 - Mar 8th, 2008, 3:13pm
I will have a look at the I&E in full on Monday.. Got loas fo time yet havent we..?
I understand the OR does not take into consideration the Child Benefit anyway..
I owuold also say to son, that he may be best staying out of the job market until he is discharged, then no IPA and wil probably be discharged within 6 months anyway.. Nice easy case for the OR..
oldgit
Topic Starter
Newbie
Re: Debtors Bankruptcy Petition Form
Reply #10 - Mar 10th, 2008, 1:43pm
Thanks PD, there is a couple of weeks yet.
Looking to the future and assuming that the BR goes through. His wife also has debts in her name adding up to about 9000. They have looked at BR jointly but can't afford the fees and his debts are much larger so they are dealing with his first. Once they have been able to save the fees again can she go BR for that amount and in the meantime should she just be offering a token payment of 1 to each creditor while they are on benefits?
May as well start thinking about it now and make plans, would love them to have a completely clean slate and a fresh start.
plumduff
Administrator
Re: Debtors Bankruptcy Petition Form
Reply #11 - Mar 10th, 2008, 2:00pm
Sounds like a good plan of action.. I see many couples who have to do it this way...
Re the token offers, when she writes, many if not most creditors may reply saying htey cannot accept the offer but they can accept x per month.. If and when this happens, tell her to come on here for further advice, but not to feel pressured into paying more than she can afford..
confused.com
Gold Member
Re: Debtors Bankruptcy Petition Form
Reply #12 - Mar 11th, 2008, 10:42am
What a wonderful stepdad you are both to your stepson and his partner.
They are very lucky to have you!
Good luck to you all.
oldgit
Topic Starter
Newbie
Re: Debtors Bankruptcy Petition Form
Reply #13 - Mar 11th, 2008, 6:03pm
Thanks Confused, the way i see it if i invest my time in them they will have more money to take me to the pub!!
Anyhoo, there has been another development. His wife is off to the court tomorrow to get the bankruptcy forms for herself, there seems no point prolonging the agony. Would have been nice to do them together but never mind there is light at the end of the tunnel.
Part of living in a wonderful nation such as the United States is that we have such awesome freedoms; with these freedoms come responsibilities as Americans.Laws are passed for our protection dealing with all aspects of our lives.Bankruptcy laws help make sure the process of filing bankruptcy is fair for all Americans, no matter their tax bracket.As the number of bankruptcies begin rising in our nation, it is important to know about the current laws that deal with bankruptcy.If you find that you
If the car loan you've got now is too high for your liking, it might be possible for you to find a refinance car loan. With consumers getting hit with rates as high as 21% to 24% or even higher, it's no secret that you'd like a lower rate, and would save yourself a bundle if you can do this.To do this, you are first going to have to do some homework and gain a little knowledge so that you have the proper tools it takes to talk to a salesperson or lender and get your car loan refinanc
If you have a lot of debt, one thing you might consider is debt consolidation. There are two different basic types of debt consolidation that for unsecured debt and secured debt. Unsecured debt consolidation is what we'll be talking about.What is unsecured debt? Unsecured debt is any debt that doesn't have collateral attached to it. As an example, most credit card debt is unsecured. That means that when you acquired the credit card, you didn't put up collateral in exchange for having
Wedding is a special occasion where two souls take vow to unite and remain forever as husband and wife. Naturally, it is a grand affair and everyone involved will try to make it as big as possible. However, if you want to get the best for your marriage, you must have the finances to cover the expenses. As most of you will agree to the fact that a good wedding ceremony will always be a gift to cherish for the better half. Even if you are falling short of the money, it can be tackled with
The best way to handle the excessive debts is perhaps the debts negotiation. This is so because eliminating a debt quickly and completely is impossible. So, instead of taking the pain of worrying for the debt repayments you can take this program up and practice an easy and simple procedure of repayment. Following this program will definitely prove to be helpful to you.
There are certain financial experts who use to play the role of debt negotiators to help the borrowers out. Such expe
Do you worry for your unemployment? If so then no more you would have to suffer from that pain. All your monetary problems from now will disappear as the loans for unemployed has come for your rescue. You would only have to take the loans up and then face any big or small financial crisis.
These loans are being provided to the unemployed people on certain grounds. You will get the option of secured and unsecured loans in it but anyone cannot just opt for these without meeting a few c
Andrew Borrok has been the Principal of 14 Penn Plaza, LLC since 2003, and has served as General Partner of the 425 Park Avenue Company since 2001. During his time at his current positions, Mr. Borrok has made many important changes and offered a great deal of successful legal advice.
At 14 Penn Plaza, Andrew Borrok is responsible for a $93 million squeeze out buyout of 90 partners and approximately $60 million mezzanine loan in connection with the buyout, $106 million worth of refinan
Heavenly Father,
Hallowed be your name, your kingdom come
Your will be done on this Earth as it is in the Heaven
Give us today our Daily bread
Forgive us our debt and sins
As we have forgotten our debtors and sinners
Lead us not into temptation
But deliver us from the evil one
For you are the glory and the power and the kingdom
Running a business is tricky. You may face situations for which the capital you have on hand is not enough. It is best to trust professional lending schemes when it comes to financing your business. It is a crucial and daunting process and obviously you would want terms and features which should go well with your requirements. Business loans are dependable options for all business-related needs. They are loans which may be taken to add monetary fuel to your business. It is extended to in
Loans are almost inevitable for many people. If you ever want to buy a house, buy a brand new car, or go to college, there is a good chance you will have to take out a loan. Going to college is a huge source of loans for people, especially for those going to a very expensive college.
When you get your tuition bill, the first thing you do is think about how you are going to pay for it. Do you get any financial aide? Do you have any scholarships that can help pay for it? Do you h
