Address required for bankruptcy

[advpls]

Hi all,

 

Helping my brother work through his situation.

 

He's been told that he requires an address to file for bankruptcy. He is currently only staying with friends, and doesn't have a permanent address.

 

My question: Is a PO Box sufficient for filing? Does he require an actual physical address that he is 'residing' at?

 

Am a little surprised as he's apparently going through (paying) an intermediary to help him, but obviously not a good one if this wasn't answered clearly to him.

 

Thanks all in advance

[platta]

Hi, sorry your brother is having problems.

 

Can I ask why he is paying someone to give him debt advice when it is free and very good from organisations such as CAB (Citizens Advice Bureau)? Who is he paying? If they are unable to answer his questions they are not helping him and he should stop throwing more money away on them.

 

I've pasted below in response to the PO Box question. Good luck to your brother, there is life after Bankruptcy (I filed in 2007)

Do I need to have a fixed address when filing for bankruptcy?

 

You don't need to have a fixed address when filing for bankruptcy, but you do need to provide an address which the Official Receiver can use in order to write to you. That could be a PO box or it could be in care of someone.

[advpls]

Hi Platter,

 

Thanks very much for your response and for clearing that up.

 

He's using an intermediary to file on his behalf as I'm not sure he's the best person to do it himself. I would have expected that this base level of information to have been given to him though - perhaps it was his interpretation of it also though.

 

Thank you again

[dx100uk]

i seriously question the logic in anyone going bankrupt

 

dx

[sequenci]

i seriously question the logic in anyone going bankrupt

 

dx

 

Why do you say that?

 

I help MANY people petition for their bankruptcies as part of my job, and for them it is by far the best route for them. For many people it is the only viable route forward and can lift a massive burden. It should, however, only be considered once professional, independent, impartial advice is taken from a qualified debt adviser. There are MANY benefits to bankruptcy, but it has to be the right route given the circumstances of the individual case.

 

The process is quite simple, if your brother is simply paying someone to fill in a form then they should think again - especially if they didn't know the answer to such a simple question as that one.

[sequenci]

i seriously question the logic in anyone going bankrupt

 

dx

 

Why do you say that?

 

I help MANY people petition for their bankruptcies as part of my job, and for them it is by far the best route for them. For many people it is the only viable route forward and can lift a massive burden. It should, however, only be considered once professional, independent, impartial advice is taken from a qualified debt adviser. There are MANY benefits to bankruptcy, but it has to be the right route given the circumstances of the individual case.

 

The process is quite simple, if your brother is simply paying someone to fill in a form then they should think again - especially if they didn't know the answer to such a simple question as that one.

[dx100uk]

thats what i mean

but i only use one liners!

 

dx

[sequenci]

thats what i mean

but i only use one liners!

 

dx

 

Heh

 

I do know what you mean, though. Many people get given poor advice about the best option for them - especially by fee-charging commercial 'debt advice' firms that try and steer an individual down a route that is lucrative for the organisation. If the advice is not objective and comprehensive then it shouldn't be taken. Bankruptcy *can* affect people for the rest of their lives so they MUST ensure that it is the ONLY likely route to help them move on.

 

I'll get off my high horse now LOL

[platta]

i seriously question the logic in anyone going bankrupt

 

dx

 

dx100uk: If you were earning £13k a year, 2kids and a husband that had just done 3yrs away at Uni (living with his mother so no debt there),

 

who when they came home sat his bum doing nothing for 2months (and now he was home you'd lost Tax Credits),

then got a job on £5ph (as was min wage then), yet took at least 1 day off a week on sick so not paid ...

. cos he was lazy to the core, then perhaps you would understand the logic I used to go Bankrupt.

 

I have to say, you don't know the facts and I know what you've said is your opinion to which we are all entitled however,

I had no choice after 3yrs of it and ending up just under £40k in debt using bank loans,

overdraft and credit cards to pay bills and not sleeping wondering how the heck I was going to pay for stuff month in month out.

 

I had no property (Housing Association home) and no assets. I didn't have to pay anything back and IMMEDIATELY my life and that of my children improved dramatically.

 

I kicked the (now ex) husband out and got on with being stress and worry free.

I had wonderful advice from the CAB (thanks to having an Uncle working for them up North as their Debt Advisor).

 

Do I regret going Bankrupt? Not one tiny bit.

 

Do I regret the debt in the 1st place? Of course, who wouldn't and I've learnt from it...

... certainly wish I'd gotten rid of the ex-husband long before I did.

 

So, yes, there is logic in going Bankrupt....for some not all.

My debts weren't run up wasting money on nights out, clothes, holidays etc..

..it was in being able to live, give my kids school uniforms, pay bills to keep a roof over their head.

[dx100uk]

???

 

my one liner was solely directed at the OP who is posting for someone else.

 

not against your advice

 

no need for that ...behave.

 

dx

[platta]

Wasn't being rude to you DX, just pointing out that where you said you don't see any logic in anyone going Bankrupt, you don't know the reasons behind someone making that decision.

[dx100uk]

 

dx

[innertemple]

i seriously question the logic in anyone going bankrupt

 

dx

 

Im slightly confused, could you please explain what you mean by that statement,

as i would be happy for any nugget of insight into why it would be illogical for someone to go bankrupt,

 

who, say for example:

Had approx 19-20k of debt, none of which was secured.

Had been comfortably making repayments until they were made redundant for the first time through no fault of their own.

Then used redundancy money to substain payments to creditors,

then unluckily was made redundant 2 yrs later as a result of their boss going insolvent.

They were now not in a position to make any payments and nearly 12 months later had not found employment,

but the debt still existed and creditors constantly threatening and harrassing whilst accruing interest and charges

(as some creditors simply will not accept to freeze interest as you will know).

 

They also lived in social housing,

had no assets accept a car which their partner required for part time work in a village not

reachable by public transport and that they would also require if work was available.

The car being worth less than £1000.

Could you please explain to me why it would be illogical in this hypothetical situation to go bankrupt?

 

I am very interested to know of any other options.

 

Many thanks

[sequenci]

Im slightly confused, could you please explain what you mean by that statement,

as i would be happy for any nugget of insight into why it would be illogical for someone to go bankrupt,

 

who, say for example:

Had approx 19-20k of debt, none of which was secured.

Had been comfortably making repayments until they were made redundant for the first time through no fault of their own.

Then used redundancy money to substain payments to creditors,

then unluckily was made redundant 2 yrs later as a result of their boss going insolvent.

They were now not in a position to make any payments and nearly 12 months later had not found employment,

but the debt still existed and creditors constantly threatening and harrassing whilst accruing interest and charges

(as some creditors simply will not accept to freeze interest as you will know).

 

They also lived in social housing,

had no assets accept a car which their partner required for part time work in a village not

reachable by public transport and that they would also require if work was available.

The car being worth less than £1000.

Could you please explain to me why it would be illogical in this hypothetical situation to go bankrupt?

 

I am very interested to know of any other options.

 

Many thanks

 

The simple test is how long would it take to repay the debt? if the alternative is many years then bankruptcy could provide the best solution as the benefits far outweigh the drawbacks. If the debt could be repaid within a reasonable timescale then bankruptcy may not be a likely option. The key to working out the best route is to:

a) complete a financial statement (there is a very good one on the National Debtline website - http://www.nationaldebtline.co.uk)

b) work out how much money is available to pay debts with

 

Based upon the information provided above, Bankruptcy should be a relatively easy and painless process.

[innertemple]

Many thanks, thats the answer i would have expected. I imagine that maybe dx was having a bad day and maybe was a felling a bit cranky

 

As It happens, i am in a similar postion to the example i mentioned, almost identical in fact. It hasnt been much fun and i have been havin to scrape and ask family to help me save for bankruptcy fees, which in the time i have been trying to gather them, have bloomin well inreased.

Out of interest, do you think its likely i will have to pay the 'court fee' if i am on income based jobseekers allowance? or is it dependant on other factors as well?

 

Many thanks

[sequenci]

You shouldn't have to pay the court fee if you're on income-based JSA. Just make sure you submit the ex160a form when making your application.

[sequenci]

Here it is!

 

http://hmctsformfinder.justice.gov.uk/courtfinder/forms/ex160a_eng.pdf

[innertemple]

Many thanks, thats very useful.

Btw do you know where i can find information in relation to average household expenditure, so i can see if what i am stating isnt absurdly over and above what is the average for a family with 3 kids. Our spending is sometimes quite eratic due to needing school or sports kit for the kids and other non regular stuff.

For example our car is having to get a new clutch next week and this is going to knock me back a bit with my fee saving unfortunately, but we cant be without transport due to my partners part time job and my need if, hopefully i can find some work.

[sequenci]

Take a look at the National Debtline self-help pack, there are some good examples within the 'working out a personal budget sheet' section:

 

http://www.nationaldebtline.co.uk/england_wales/debt_advice.php#4

[innertemple]

thanks again.

I don't believe it, now even my printer has decided not to work. It never rains, it only pours.

Damn good thing ive got a sense of humour, otherwise id have been in a clock tower with a rifle by now.

 

Ill check them links out and let you know how i get on.

Hopefully get my printer goin again tomorrow, ive had enuf 2nite.

 

Thanks again

[advpls]

Hi everyone - sorry to ask for more clarity on this one, but I need some help please.

 

The company he is using are telling me he has to have a residential adderess where he's spent the majority of the last 6 months for his forms....

 

Can anyone point me to where the relevant section(s) covering this are please?

 

Thanks again.

[rebel11]

Thread moved to correct forum.