If you need debt advice we can help

[Nicvic73]

Hi
Thanks for the advice I think I’m going to stick with bankruptcy

[Hayden]

Let us know how you get on Nicvic73

I am sure you will have questions along the way so don't be afraid to ask

[Nicvic73]

Hi I submitted my application tonight it says it can take up to 28 days to review & make a decision! But I was also told that it’s usually the next working day? How long roughly will I have to wait??
Thanks any info is appreciated

[Geraldine]

Well done Nicvic73

The process allows the Adjudicator up to 28 days to make a decision on your application but this is to build in contingency in case they struggle to establish your identity or other issues arise.

99% of cases are decided the next working day. I would expect you received an e-mail on Tuesday stating that "the status of your application has changed". This would mean you are now bankrupt and the next step will be speaking to the official receiver.

Let us know how you get on

[Nicvic73]

Hi
All done now. I am bankrupt and had or phone cal. jobs a good un
Thanks for all your help & advice everyone

[James Falla]

Great news NicVic73

Please do let us know how you get on during the next year and by all means ask if you have other questions

[Nicvic73]

I certainly will & thank you

[Nicvic73]

Hello

Well everything is going well so far. I do however have one question the OR told me I wouldn’t have to pay tax on my wages until April to help me out financially which is great but! I have heard anything regarding this yet neither has my employer! It’s been 7 weeks since my bankruptcy how long does this take? & will it be backdated?

Thanks

[Hayden]

Hi Nicvic73

Glad to hear everything is going well.

In regard to the tax you pay: After you go bankrupt HMRC will write to your employer notifying them to change your tax code to zero. This means the tax you were paying is no longer deducted.

The timing of this very much depends on HMRC. It normally happens around 2 months after you go bankrupt but can take longer. You just have to wait. Unfortunately the amount will not be backdated....

If you are struggling the OR can allow you to keep the extra money you get. This does not always happen but it sounds as though it is going to in your case which is lucky. If you are not struggling they would ask you to pay the extra to them.

Your tax code will change back to normal from April next year (the beginning of the next tax year).