Bankruptcy advice

[NewDOOFUSfor20]

So DH and I have found ourselves in a pitiful financial position and, following advice from CAB/National debt helpline, have decided that bankruptcy is our only option. We have no assets however we have 2 vehicles, both on finance, that will shortly be repossessed. The debt outstanding on one vehicle alone takes us over the debt threshold for a DRO (joint finance agreement) so that takes that out of the equation.
I'm feeling quite overwhelmed with the logistics of going bankrupt and don't know where to start. We have done the CAB expenditure list and have come to the stark realisation that we need to get 2 very cheap cars to enable us to get ds to school and us to work (we live rurally so no vehicle is not an option). Will these 2 vehicles need to be included in the petition? Will they be removed to pay towards the outstanding debt?
I also understand that, once declared, my bank account will be frozen, how do I get my wages paid into an account? Is there a bank who would take me on as an undischarged bankrupt?
I know it goes without saying that most people on this site are lovely and will be able to offer good advice but please no horrible/judgy posts, this has been the worst 6 months of our lives where we have merely existed with absolutely no quality of life for us or our ds and the decision has been a very difficult one.
Does anyone have any advice regarding the process?

If you have low value cars and they are essential for work/school, they may let you keep both. It's at the discretion of the Official Receiver.

If you visit moneysavingexpert, they have a Bankruptcy board which will give you current advice. Any account that is open will be frozen, so it is best to withdraw any cash prior to your bankruptcy hearing (declare it as cash in hand on your statement of affairs) and then after you are declared bankrupt, go to the bank and set up bank accounts.

My top tip is that you need to declare bankruptcy away from key pay dates, either coming in or going out. So if you get paid at the end of the month and all bills come out in days 1-5 of the month, declare bankruptcy on days 8-12, say, so that you have time to redirect your wages, etc.

You can get basic bank accounts at most banks, OP, so don't worry about that - they're specifically designed for people with poor credit, including undischarged bankrupts. You can receive money in, set up direct debits and standing orders, and generally do everything a regular amount can except receive credit. Some banks will let you have a visa debit with this kind of account (Co op used to) and some will only let you have an ATM card.

Sorry you're in this situation - the MSE website pp mentioned is excellent for advice

Co-operative do a basic account and will take bankruptees

Thank you for your kind words, I'm a bit relieved not to have to explain myself IYSWIM? I'm more than happy to lay out how we got here, I have nothing to hide, but it's taken us a while to face up to it.
Regards timing, I was planning on doing it the 27th (get paid 25th but it goes into DH account...which will change because he will also be petitioning for bankruptcy but we just can't get the money up together for us to both do it at the same time). Does that sound ok?

I'm sorry, I am not sure about how best to work the dates, OP - maybe ask on the MSE forum?

Def ask on moneysaving expert forum bankruptcy board. Barclays do a basic bank account and were lovely to me when I went bankrupt. Make sure you open bank account before bankruptcy and get all direct debits/ work payments into them sorted before hand. It does get easier, I promise. Xxx

We went bankrupt several years ago. To deal with the problem of frozen bank accounts, we both arranged to have our wages paid into my mum's bank account and then opened a new account once the bankruptcy had gone through. Don't know if family members would do the same for you to avoid the need to time things correctly? And yes, it is legal if you were wondering

We had a car on HP at the time and DH needed it for work. We were allowed to claim the HP payment as an essential cost, keep the car and continue paying it off (had to get agreement from the HP company). I don't know if that would be an option for you - our monthly payment was quite low. If you have two low value cars, I don't think you'd be expected to sell them but you may be asked where the money to pay for them came from.

I know how frightening this is. When we did it though, the officials we dealt with at the court and the OR's office were lovely. Very brisk and efficient but kind and not at all judgemental. It's horrible to go through but once you've decided, it gets easier. Sending you hugs