If I went bankrupt could they...

cardinalfire

Thankyou, you are so nice!

I think the part Im most not looking forward to is stopping paying the creditors. I've just read that I should stop paying them all rather than try to pay a low amount one which I didnt know as the OR wouldnt look at this favourably. The going to court part I would find embarrassing but its the taking that step and stopping payments which is scary as Ive been struggling to make them. Whats best to do when you do this...just cancel DD and/or let them know youre not paying?

Scarlett.1974

cardinalfire wrote: »

Thankyou, you are so nice!

I think the part Im most not looking forward to is stopping paying the creditors. I've just read that I should stop paying them all rather than try to pay a low amount one which I didnt know as the OR wouldnt look at this favourably. The going to court part I would find embarrassing but its the taking that step and stopping payments which is scary as Ive been struggling to make them. Whats best to do when you do this...just cancel DD and/or let them know youre not paying?

I just stopped paying. Just like that Cancelled any DDs and stopped making payments to the others. Be prepared for the phone calls and letters though. My way of dealing with this was to just ignore them. They can't hurt you. Change your phone number if it gets too bad. We have caller display on our phone so we just didn't answer any numbers that we didn't recognise

dalip

Yes i found that bit hard too. I had struggled for so long robbing peter to pay paul,it went gainst the grain not to pay. You can still pay a £1 or similar as long as you pay ALL your creditors the same amount.

I had never been to court in my life and was amazed. You think you have bc stamped on your blo00dy forehead in big red letters, when in fact nobody is really bothered about you they are all more bothered about themselves.:o You just don't see it that way on the day.D

philnicandamy

I'd agree with scarlett....I was up to date with all creditors when I decided enough was enough struggling by making payments....I stopped payments to all creditors & to be honest before they had started taking action i'd already gone BR

Scarlett.1974

philnicandamy wrote: »

I'd agree with scarlett....I was up to date with all creditors when I decided enough was enough struggling by making payments....I stopped payments to all creditors & to be honest before they had started taking action i'd already gone BR

Exactly the same here

I hadn't missed a payment on anything. Ever. So, it did feel a bit odd, to stop just like that. Also, I stopped payments in the Oct, didn't go BR until the Feb and none of them did anything..... apart from the snotty letters. No court action, no CCJs, nada.

fudge59

I think it really depends when you're thinking of going BR.

If it's in a month or so you probably could get away with not paying your creditors anything - if it's for a bit longer then I'd advise paying them something each month.

I got told by a creditor 'as long as you're paying us something we cant really do anything against you' ... so I sent them £1 cheques (which I'm pretty sure would have cost them more to actually cash than the cheque was worth!:D ) You can use the money you're not paying them towards your bankruptcy fees (£495).

cardinalfire

Thats what Im hoping will happen phil and Id have to stop to get the fees...ive found it so ironic that you have to pay to go bankrupt when you dont have any money lol....anyway, do you think it'll matter that ive just opened a new credit card and done a balance transfer (with mbna) and may only pay one payment (its already gone out) ...will they look at that worse or say that i never intended to pay? which of course i did but ive realised that my situation has gotten ridiculous. Im worried about this bankruptcy restriction thing they could impose on you for 15years...Also, what if i need to keep spending on my credit card til i get my next pay....will that be looked at badly? Im sorry about all these questions but if anyone knows the answers Id appreciate it.

- Its good to hear other ppl have managed to keep up with payments and then just stopped. I did wonder whether theyd think that i could afford them if I am paying minimum but of course that isnt the case...its just spiralling and as someone said, robbing peter to pay paul.

maxmycardagain

one maxicardi

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dalip

Cardi

A bru/bro is 2-15 years. It is only the same restictions that you get for your 12 months of bc just a little longer. Bit like a slap on the wrist.They are no big deal and they are not imposed that often.

I used my cards until the oct and went bc in the nov. In fact what i should have used to try to meet the min payment on my one card paid my bc fees. The OR turns a blind eye if you draw the cash off a cc to pay the fees. May be useful for you to know.D

fiveyearplan

I stopped paying my creditors in May and didn't go bankrupt until the following APRIL and apart from the endless phone calls and letters nothing happened (although it was just starting to!). I just didn't answer the house phone until 9pm and it was easy to spot the 0845 numbers ringing my mobile.