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No money to save up for bankrupcy
Aug 7th, 2008, 10:47am
My husband and I have boooked a date for beginning of October for our bankrupcy but we are having problems trying to save the 990.00. My husband is currently out of work but desperatley looking. In the meantime they have told us that he is not entiltled to any job seekers because I earn 200 per week and that is enough to live on. Our second problem is that although we have stopped paying all our debts we have a family loan which we must pay off before we go bankrupt otherwise this is going to cause family problems. We just don't know what to do. I know this is really a dishonest idea, but if we took a small loan of in order to pay off this debt and then enable us to save will the court be really mad if they found out as we have already fixed a date for the bankrupcy. Also we have been recieving letters from my husbands bank saying that they may proceed with a ccj and he is starting to panic. Can they do this and what does it entail. Last thing if we didn't come up with the money on time how many times can we posstpone Many thanks
« Last Edit: Aug 7th, 2008, 10:49am by sar »
confused.com
Gold Member
Re: No money to save up for bankrupcy
Reply #1 - Aug 7th, 2008, 12:55pm
Hi Sar, I'm very pleased you have now made a date for your BR. This can easily be put back if necessary so don't worry about that.
I've not heard of JSA being means tested before - hopefully one of the experts will be able to help you. I personally thought everyone was entitled to benefits when they were out of work?
Have you completed the 'welcome to newcomers' thread yet? Key information needed in there will help the experts and regulars maybe come up with some ideas.
Don't panic, you've made a really important decision and should be really proud of yourselves even for that.
As a parting comment whilst waiting for more info, don't take out any loans at this late stage. The OR (official receiver) will almost certainly frown on this and you could end up with an extension of your BR restrictions (BRO/BRU) and possibly more. Do you have any credit cards with any credit still left on them? Which bills are you still paying?
Look forward to your reply and please don't worry, we will help you as best we can.
Best wishes Mr C
plumduff
Administrator
Re: No money to save up for bankrupcy
Reply #2 - Aug 7th, 2008, 2:26pm
There are 2 types of JSA:
Contribution based.. only for those who satisfy the contributions record criteria.. Is it been paying appropriate NI for the previousl 2 years prior to the claim.??
Income based JSA which is the means tested one.. If you dont satisfy the NI contibutuion criteria and dependant on the households other income..
From what you say, he doesnt satisfy NI (or maybe other) criteria and means tested JSA is not applicable due to your income.. Check the decision letter and/or phone the DWP and ensure they checked eligibility for both..
sar
Topic Starter
Newbie
Re: No money to save up for bankrupcy
Reply #3 - Aug 7th, 2008, 3:11pm
Thanks both for getting back to me, it's so confusing trying to keep my head above water for both of us cos hubby has just lost all hope and it's all making him quite ill it's not a good time for a midlife crisis!! Well, I don't think I have filled in the welcome to newcomers thread and I can't seem to find it. As for the JSA we have put in a written appeal but I will give them a call in the meantime. He had worked for the same company since 2004 although they did reduce hours considerably in 2006 but increased them again mid 2007-2008 but I have always worked over 40hrs even when I had young kids and never took anything so surley it's pay back now. There are so many people who don't work for years and get money. I don't mean that to sound awful but it just doesn't seem fair somehow BUT Never mind. We didn't think taking another loan was a good idea but when you're desperate anything comes to mind but on your advice Mr C we won't do that. We are only paying rent and all utility bills +counsil tax, we have cancelled the phoneline and the Sky, and we're trying to sell our car so that we don't have to pay insurance. We also help my husbands mum out a little she lives abroad and is all on her own. I had borrowed some money from a relative and still owe her 500 which I must pay back because I haven't told my family about the bankrupcy (I feel so ashamed about that) and I don't want them to find out. I am going to make an appointment with the Citizens Advice Bureau to help me fill in the application forms a little closer to the date in the meantime I will try to keep my chin up because we must get through this.
confused.com
Gold Member
Re: No money to save up for bankrupcy
Reply #4 - Aug 7th, 2008, 3:33pm
Hi Sar
The welcome to newcomers thread can be found here:-
When you can, reply back with the requested information. However, it looks favourable that BR is the best route as you've already mentioned 'rent' and 'selling car' which is usually the main assets (house and car) anyone wants to protect.
I know it feels terrible at the moment and you possibly feel very alone. My wife and I went through the same thing early last year and I had a sort of mini 'mid life crisis' and looking back, I feel awful letting her go through it alone. However, you sound as strong as Mrs. C and I'm sure that once everything gets rolling, your partner will rally around. This is going to sound crap but it's a terrible blow to a man's pride to realise his family are in the bleep. I was brought up to believe that it was a man's job to provide (hides in shame ) and I just couldn't get my head around it; luckily Mrs C soon gave me a huge kick up the behind!
I am concerned that you're going through this alone though and I'm pleased to hear you're getting advice. The loan question is 'just my opinion' and it's really up to you what you do. However, in these black and gloomy economic times together with your partner's loss of earnings, would it be such a surprise to your family to learn you're having financial troubles? You don't have to go into loads of detail if you'd rather not, but perhaps ask for some breathing space whilst you get everything sorted. They can only say no.
Once we've received your reply to newcomers thread we can see what (if any) surplus you have and maybe you could offer a small percentage of this to your relative once you've gone BR? Any payments you make to them now could get you and them in trouble. Basically, you've stopped paying all your other creditors but you're still paying them - making payments to them preferential. The OR could and possibly will involve them anyway and ask for the money back! How much are we talking about over what period of time?
Anyway, I just wanted to let you know we are here for you both. Without this site, goodness only knows where we'd be and the level of friendship is wonderful. FYI, we went BR September last year and we're on a countdown to next month when it will all be over.
Well done Sar, you will get there, I promise.
Mr C
PS. Sar, just a thought, have a look at www.entitledto.co.uk and see whether you're entitled to any other benefits.
« Last Edit: Aug 7th, 2008, 3:34pm by confused.com »
plumduff
Administrator
Re: No money to save up for bankrupcy
Reply #5 - Aug 7th, 2008, 7:31pm
Hi sar,
Definately check what the DWP letter says some numpty may have only checked his entitlement to income based JSA and not contrib. based.. which is the one he is probably entitled to, based on what you say..
Also, I went on my benefit calc, and putting in two adult, 200 pw wage from one, was giving entitlement to tax credits, so you could give them a ring.. However... if OH get IB -JSA then entitlement to tax credits may go or reduce..
Phone tax credits helpline.. on ermmm..... 0845 300 3900 - i think..
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