Bancruptcy

[evan]

hi has anyone got any advice, I am considering bancruptcy I took out a personal loan in my own name with a certain bank.
My wife and i have seperate bank accounts and the direct debit has always been taken from my bank account. my wife banks with the same bank where her disability money and child benefit are paid in, if i decide to go ahead will the bank hassle my wife or her account, even though the loan was signed by myself and in my name, i think i remember saying when i filled in the forms that she was my next of kin.
This is the only worry that is holding me back, cheers

[yoyoma51]

I would HIGHLY recommend changing banks/credit unions BEFORE you file. Move all funds there also, and change your direct deposits.

This board contains many stories about banks/credit unions seizing account balances when you are behind on payments.

We switched credit unions and moved our money before filling. Worked out great.

Good luck!

[epiphany]

I would HIGHLY recommend changing banks/credit unions BEFORE you file. Move all funds there also, and change your direct deposits.

I just did this on the lovely advice of this board. Didn't close the old credit union account because I don't think they would let me..left 5 dollars in it. But I withdrew all the money while I could, and stopped the direct deposit. Opened a new account and am waiting for the direct deposit to kick in. Cashed my first paper check today in years and years and years...feels weird having so much cash but I need to deposit it in the new bank tomorrow.

EP

[jp2861]

The money in her account should be exempt anyway, but it would be wise to move them both. Or, if anything just stop using them and bank at a place you have never done business with.

[CindyLou]

what state are you in?

[evan]

reply

owe 15,000 but doctor signed me off work because of the stress incurred through our autistic son, my wife could not handle his disruptive and hostile behaviour, i am on income support and incapacity, my wife has cerebal palsey

[evan]

persoanl loans bancruptcy

I took out on the banks advice a consolidation loan to cover my existing loans in june 07 I am filing for bancruptcy soon, i have medical reasons for being on incapacity and income support since september, my wife has cerebal palsey so cannot work.
I have only paid 6 or 7 installments what will happen.