Hello,
virgin poster here, but I've lurked around for a couple of days: sincere thanks to all the informative posters for empowering the rest of us.
Short of laying out all my circumstances, I hope the following will suffice for my query:
I will likely be going bankrupt in the uk within a year. Having read a lot of posts on this site I am confident enough to say that my bankruptcy should go through without any hitches.
My joint mortgage has recently been deemed unsustainable by the bank (I have the letter of unsustainability). I've been unemployed for a few years and am living on welfare with no savings. In about 6months time I should have an earning potential of around 25k p.a., having finished a training program by then. The NE on the property is about 150k. I owe 2k on my c.card and its limit is 4.5k. I have no assets.
Myself and my ex-partner (joint mortgage holder) are in pretty much the same situation except we are now split up. My ex has a similar earning potential (although is also currently unemployed and seeking work) and is also considering bankruptcy. While our split was amicable, we desperately would like to not have to live together, but currently it's the only realistic option as neither of us can afford to move out. We don't have any children (phew).
My question is this: If I max-out my credit card before travelling (obviously to help fund the bankruptcy process - quite likely to pay the good Mr. Thatcher!), might the Judge regard this as disingenuous even though I mightn't have had much else to fund going bankrupt?
OR..
should I stay here after finishing my training program in the hope I'll get a job here for a few months, so I can then afford to go bankrupt?
So basically, should I avoid maxing out the c.card at all costs because the Judge will regard it as disingenuous?
i.e. what if I were to save, say 2.5k from a new job here (if I could), and then take the other 2.5k from the credit card and then head off to the uk with my 5k bankruptcy pot?
virgin poster here, but I've lurked around for a couple of days: sincere thanks to all the informative posters for empowering the rest of us.
Short of laying out all my circumstances, I hope the following will suffice for my query:
I will likely be going bankrupt in the uk within a year. Having read a lot of posts on this site I am confident enough to say that my bankruptcy should go through without any hitches.
My joint mortgage has recently been deemed unsustainable by the bank (I have the letter of unsustainability). I've been unemployed for a few years and am living on welfare with no savings. In about 6months time I should have an earning potential of around 25k p.a., having finished a training program by then. The NE on the property is about 150k. I owe 2k on my c.card and its limit is 4.5k. I have no assets.
Myself and my ex-partner (joint mortgage holder) are in pretty much the same situation except we are now split up. My ex has a similar earning potential (although is also currently unemployed and seeking work) and is also considering bankruptcy. While our split was amicable, we desperately would like to not have to live together, but currently it's the only realistic option as neither of us can afford to move out. We don't have any children (phew).
My question is this: If I max-out my credit card before travelling (obviously to help fund the bankruptcy process - quite likely to pay the good Mr. Thatcher!), might the Judge regard this as disingenuous even though I mightn't have had much else to fund going bankrupt?
OR..
should I stay here after finishing my training program in the hope I'll get a job here for a few months, so I can then afford to go bankrupt?
So basically, should I avoid maxing out the c.card at all costs because the Judge will regard it as disingenuous?
i.e. what if I were to save, say 2.5k from a new job here (if I could), and then take the other 2.5k from the credit card and then head off to the uk with my 5k bankruptcy pot?
