Redundant and considering bankruptcy

Damn_it · 14 February 2009 at 1:04AM

Hi All,
I have just been made redundant and with the economy as it is I can't see any other way forward but bankruptcy.

I have been on a debt management plan with cccs for the last 4 years and reduced my debt from £42,000 to £28,000 which now seems to have been 4 years wasted!:mad:

I have done all I could to prevent going bankrupt and get my life back on track only for this to happen, I have been told to just make token payments to my creditors until I get back to work and everything is running smoothly again but who is to say when we will be out of the recession or when I do get everything running smoothly again who is to say it won't happen again when I have reduced my debt even further.

All my assets apart from my car have been sold on ebay over the years to help pay towards my debt.

Anyways I have just moved back into my mum's house and everything that is in it is her's.

My concerns are will my mum have to prove everything in her house is her's as I am sure that is something she will not be able to do.

I really don't want to upset my mum for something which has nothing to do with her.

Any advice is welcome and if I have to move out to stop my mother being upset I will.

So_Sad_Angel · 14 February 2009 at 1:21AM

Damn_it wrote: »

Hi All,
I have just been made redundant and with the economy as it is I can't see any other way forward but bankruptcy.

I have been on a debt management plan with cccs for the last 4 years and reduced my debt from £42,000 to £28,000 which now seems to have been 4 years wasted!:mad:

I have done all I could to prevent going bankrupt and get my life back on track only for this to happen only, I have been told to just make token payments to my creditors until I get back to work and everything is running smoothly again but who is to say when we will be out of the recession or when I do get everything running smoothly again who is to say it won't happen again when I have reduced my debt even further.

All my assets apart from my car have been sold on ebay over the years to help pay towards my debt.

Anyways I have just moved back into my mum's house and everything that is in it is her's.

My concerns are will my mum have to prove everything in her house is her's as I am sure that is something she will not be able to do.

I really don't want to upset my mum for something which has nothing to do with her.

Any advice is welcome and if I have to move out to stop my mother being upset I will.

Hi DI

Welcome Hun & loads of <<<hugs>>> to you.

What a tough situation & there must be so many people in the same boat at the moment. Get advice from CCCS/Nat Debt/CAB as to the way forward...obviously you will know what the chances of getting a new job quickly are in your area .

Sadly minimum payments on a DMP will not clear the debt...& you have done so well reducing it over the last 4 years but don`t give up hope on the job front.

In terms of your Mum...she will not have to prove anything as the OR is only interested in your affairs/assets etc. No black mark will go against the property you live in either so she will be unaffected. Of course its up to you whether to tell her if you go BR....often it helps to be open about it & at least she will understand your stress etc.

I hope that helps...keep posting as the support is so important at this tough time.

Angiexx

Damn_it · 14 February 2009 at 9:22AM

Thanks Angie
My mum already knows all about my debt and when I told her I was being made redundant my mum was the first to say you may as well go bankrupt then.

I just don't want anyone harassing my mum over this which they have done in the past before I was on a debt management plan.

What I mean is all the phone calls etc from creditors, before I was on the plan they had my mums number and address as I was in the army until 4 and a half years ago so I have always had my mums address as my U.K. address, I had told them I didn't live there and my mobile but if they couldn't get hold of me they would ring my mum sometimes there would be about 30 calls a day from the 7 creditors just because I couldn't pick up my mobile. (I was a truck driver)

Now that I am back at my mum's I can see all the phone calls etc starting again and I really hate answering the phone now just to be asked the same question: Hi you owe this much can you pay it today? Which I always gave the same answer: If I could pay it I would have paid it and there would be no need for you to keep ringing up and asking! Which changed to I am now on a dmp with cccs.

I really am dreading the phone calls starting again and I am worried if they try sending doorstep collections my mum would probably open the door to speak to them (Therefore giving them access?) even though this has nothing to do with her. Can they gain access to my mums property even though it has nothing to do with her?

Cheers

So_Sad_Angel · 14 February 2009 at 9:27AM

Morning,

Once BR your creditors cannot harrass you. They must deal directly with the OR thats the ORs job.

I think a few phone calls is going to be inevitable but if your Mum knows then I`m sure she will understand. It is unlikely that anyone will call for quite a while anyway by which time you will be BR anyway.

RAS · 14 February 2009 at 9:44AM

yup

Keep a note of your BR number and OR contacts by the phone. If they ring tell them that you are BR, have the protection of the court ans here are your BR details. If they phone again, threaten to report them to the OR. You are not allowed to deal with creditors once you are BR.

Damn_it · 25 February 2009 at 3:33AM

Well I finally went to court today and I am now bankrupt, The only problem I had was trying to get my fee waived after showing all my job seekers paperwork etc they now want 3 months bank statements then I can have my fee back which I will print off and take back later today.

I went in to reception waited a while and was then taken upstairs to await the dreaded ordeal:eek: unfortunately he was busy so I went for a brew and was told to come back at 12:15, I returned and started reading my commando library (made sure I took something to keep my mind occupied) and I was just getting to the good part where some werchmart soldiers had escaped from siberia, When the usher?

(bloke) came out and said it is all done and I could go back to reception. I was a little

so I asked him am I not supposed to go in then and the usher? said no not unless I wanted to to which I replied ermmm:rolleyes:NOPE!
He then lead me back to reception where I received my 10min OR phone call it was just so easy and the staff were great:j

What I didn't mention about the staff is that the lady who said I still needed my bank statements overheard me talking about being made redundant and she said it's a pity you are not a HGV driver to which I replied I am!
The lady then went on to say a firm she had past earlier was looking for drivers but she couldn't remember the name of the firm, anyway after the OR phone call she had gone out of her way and found the firms name out and the address:p to which I later found the phone number:j

So all in all I have had a very good day went in for bankruptcy and come out bankrupt with the possibility of getting another job:j (:beer: Thanks to the nice ladies at Burnley combined courts:beer: )

If you can't tell with all the :j :j :j :j :j I am a little chuffed and relieved to have got it out of the way and I can now hopefully get the job and start looking ahead:D

tigerfeet2006 · 25 February 2009 at 9:57AM

Glad it all went well Damn it. All thr best for your debt free life.

Will keep my fingers crossed on the job front for you.

Redundant and considering bankruptcy

Comments

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free