Author Topic: Bankruptcy  (Read 13650 times)

Jeanette.5

  • Full Member
  • ***
  • Posts: 25
Re: Bankruptcy
« Reply #15 on: Feb 08, 2012, 11:53:24 AM »
Additional point:
 
My IVA was originally approved on 28 January 2008 so they took over 6 months later. 
 
Regards
 
Jeanette.5

Jeanette.5

  • Full Member
  • ***
  • Posts: 25
Re: Bankruptcy
« Reply #16 on: Apr 18, 2012, 10:03:25 AM »
I have been waiting on my certificate of failure since December last year and have been advised by my IP that it will take up to 6 months and looking at beginning July to send out to me.  I also have requested by email and phone many times since January the correct postal addresses on each creditor or company who have taken over the debt to no avail.  I did get some correspndence in the post the other day but it was just the original creditor list which I already have and no addresses.  I chased again but still no response!  It is so annoying as it is very important to provide the correct postal addresses on my bankruptcy paperwork.
Whilst writing, are the bankruptcy court costs going up again this year?
Many thanks
 
Jeanette.5

James Falla

  • Hero Member
  • *****
  • Posts: 655
Re: Bankruptcy
« Reply #17 on: Apr 18, 2012, 04:43:39 PM »
Hi Jeanette
 
I would not worry too much about getting the correct postal addresses for your bankruptcy application form. Of course you should be as accurate as you can. However if you simply cannot find a full address or unbeknownst to you one of your debts has been taken over by a debt purchaser, this does not matter. In actual fact, anyone you owe money to at the time you declare yourself bankrupt will be included in the bankruptcy process whether or not they are listed on the form.
 
The fact that you have still not received your certificate of failure from Grant Thornton is more annoying. Why not give the court a call and explain the situation to them. You might find that they may say in the circumstances that they will be able to help you anyway. Its worth a try.
 
In terms of the court fees, I have not heard anything to suggest that the fees will go up again in the near future so I think you should be OK on that front at least.
Debt Expert & Author
beatmydebt.com

Jeanette.5

  • Full Member
  • ***
  • Posts: 25
Re: Bankruptcy
« Reply #18 on: Apr 18, 2012, 07:04:19 PM »
James
Many thanks on your prompt response back with your suggestion regarding calling the court.  I will keep you updated.
 
Regards
 
Jeanette.5

James Falla

  • Hero Member
  • *****
  • Posts: 655
Re: Bankruptcy
« Reply #19 on: Apr 19, 2012, 09:58:28 AM »
No problem Jeanette.5. I look forward to hearing if the court can offer any help.
Debt Expert & Author
beatmydebt.com

Jeanette.5

  • Full Member
  • ***
  • Posts: 25
Re: Bankruptcy
« Reply #20 on: Jul 01, 2012, 08:01:38 PM »
Hi James
An update for you:
I finally received in the post yesterday my certificate of failure after several months wait.
I have completed my bankruptcy papers and going to ring the court tomorrow to book an appointment (advised 1-2 week wait).  However, I would be very grateful if you could kindly advise on how to handle any phone calls or letters from creditors which I am sure I will get from tomorrow.  Should I inform them that I am declaring myself bankrupt?
Many thanks
Regards
Jeanette.5

James Falla

  • Hero Member
  • *****
  • Posts: 655
Re: Bankruptcy
« Reply #21 on: Jul 02, 2012, 10:01:31 AM »
Hi Jeanette.5
Given that you are planning to declare yourself bankrupt as soon as possible if you are contacted by any of your creditors, you should definitely tell them that you will be declaring yourself bankrupt shortly and are not in a position to make any payments to them. Generally speaking this should help reduce the hassle you get from them.
Debt Expert & Author
beatmydebt.com

James Falla

  • Hero Member
  • *****
  • Posts: 655
Re: Bankruptcy
« Reply #22 on: Jul 02, 2012, 10:07:37 AM »
Just thought I would mention one more thing Jeanette.5
When you first posted in January you were concerned about your company pension and I mentioned that you do not have to worry about this. Just so you are aware, there has been a recent court ruling regarding pensions and bankruptcy which now suggests that if you reach the appropriate age where you are allowed to take a lump sum from your pension while you are bankrupt, then you would have to do so and this would have to be paid to the official receiver. You do not have to worry about this at all if you will not reach this age point during the year you are bankrupt. However some pensions do have this option at age 55 so it needs to be considered by some people.
Debt Expert & Author
beatmydebt.com

Jeanette.5

  • Full Member
  • ***
  • Posts: 25
Re: Bankruptcy
« Reply #23 on: Jul 02, 2012, 01:43:18 PM »
Hi James
Thank you for responding back to me.  Unfortunately I was 57 on 2 June this year and now very worried about my company pensions.
Regards
Jeanette.5

James Falla

  • Hero Member
  • *****
  • Posts: 655
Re: Bankruptcy
« Reply #24 on: Jul 03, 2012, 03:33:35 PM »
I do not think there is a huge cause for alarm Jeanette. You just need to be armed with the facts given your age.
The key thing to find out is when are your company pensions due to start paying you and at that time will you be allowed to release a tax free lump sum if you want to. It may very well be that any pension payments payments and option of a lump sum (if it even exists) will not become available until retirement age of 60. If this is the case, your bankruptcy will be well past you by then (you will be discharged after 12 months) and you will have nothing to worry about.
The best thing to do is have a check with your company pension people.
Debt Expert & Author
beatmydebt.com

Jeanette Kisby

  • Guest
Re: Bankruptcy
« Reply #25 on: Jul 04, 2012, 03:13:00 PM »
Hi James
Thank you for your comments, much appreciated.  I am due to retire on 2 June 2020 officially.
My court date is FRIDAY 13th JULY by the way!
Regards
Jeanette.5

James Falla

  • Hero Member
  • *****
  • Posts: 655
Re: Bankruptcy
« Reply #26 on: Jul 06, 2012, 12:13:57 PM »
Hi Jeanette
You should not have anything to worry about as you should not be eligable to take any lump sums from your pension before your retirement date (although it might be worth checking with your pension as to whether you have options to do so any earlier). However from what you have said I assume that this option if it even exists would not fall before 12th July 2013 when you will be discharged so you should not have any issue.
Good luck for Friday 13th. :)
Debt Expert & Author
beatmydebt.com

Jeanette.5

  • Full Member
  • ***
  • Posts: 25
Re: Bankruptcy
« Reply #27 on: Jul 06, 2012, 02:36:23 PM »
Hi James
Thank you on your comments.
Getting ready for next Friday 13th.  Not superstitious (well not too much).  It was the closest date and I did not want to wait any longer.  I have my papers plus pension details copied for the OR on my occupational work pensions for next week.  Organised a cashplus account also for the future. 
I live with my father in his home and have no assets such as car, property, savings, jewellery.  My father has been in excellent credit all his life and never ever been overdrawn with  his bank (old school standards).  Wish I had taken a "leaf out of his book".  Not heard from my creditors as yet!
Your help and support is a godsend to everyone on this forum.
Regards
Jeanette.5

Loads

  • *
  • Posts: 2
Re: Bankruptcy
« Reply #28 on: Jul 07, 2012, 05:41:21 PM »
Hi Jeanette,

As James will probably remind you, don't forget to take your IVA failure notice with you and show it to the court clerk when you arrive ;)

James Falla

  • Hero Member
  • *****
  • Posts: 655
Re: Bankruptcy
« Reply #29 on: Jul 09, 2012, 10:52:50 AM »
Loads is quite right Jeanette. Remember to take your IVA certificate of failure with your to the court or they might turn you away and ask you to book another appointment which would be a real pain. Well reminded Loads :)
Debt Expert & Author
beatmydebt.com