Seriously considering going bankrupt ! Help!

Jayen4

Hello ? Anyone there ??

Also,another couple of questions.....

Should I max out my credit card and overdraft facilities before I stop all the payments or would this be frowned upon by the OR ??

Same applies to the new credit card application (from Capital One).....If I take it on, then go BR after I've maxed it out,would that be a no no ??

I'm working on the basis of getting as much cash as possible,to tide me over for a while,until this mess is sorted out.....What ya think ??

dalip

Jayen4 wrote: »

Hello ? Anyone there ??

Also,another couple of questions.....

Should I max out my credit card and overdraft facilities before I stop all the payments or would this be frowned upon by the OR ??Only use them if you have too,as too much activity will be frowned upon

Same applies to the new credit card application (from Capital One).....If I take it on, then go BR after I've maxed it out,would that be a no no ??That will carry a strong possibilty of a bru,so for gods sake don't do it.

I'm working on the basis of getting as much cash as possible,to tide me over for a while,until this mess is sorted out.....What ya think ??

Just stop paying your creditors,take the money for the fees off yu card but be prepared to explain and keep a paper trail.

Your i&e looks fine. As dee says round to the nearest £ and take off the internet or just add it to the landline and don't mention the word internet,and allow for house insurance.D

Jayen4

O.K......Thanks Dalip. So,no naughties with the Cap One CC then ??

BRU ??

Rabbit-in-headlights

take a look at this http://www.insolvency.gov.uk/freedomofinformation/technical/brobru.htm

good luck with it all,

RiH

tigerfeet2006

Also have a read of Fermi's 'Useful topic's.....' sticky at the top of the board. there is some very useful info in there, espescially the 1st post.

http://forums.moneysavingexpert.com/showthread.html?t=1056083

dalip

Jayen4 wrote: »

O.K......Thanks Dalip. So,no naughties with the Cap One CC then ??

BRU ??

A bankruptcy restriction undertaking/order. You would be knowingly taking out credit with not intenion of repaying it back. Paramount to fraud really. So please do not do it.D

Jayen4

Thanks Tigerfeet and Dalip.....
So,forget Cap One. They were trying to rip me off anyway....:mad:

Just hope I win that £100 million on the Euromillions,eh ?? That's actually on my birthday ! You think that's an omen !? (Yeah right!) I'll buy you ALL a drink,if I do....

Jayen4

**Bump**
Just so's I can keep a track of this post....

Oh and I've spoken to the CAB. They are sending me an appointment to see a debt counsellor. Hopefully will be sometime this coming week, See where we go from there.....

Rylynn

You say the van and car are on a trade plate, is this your business, is this what you do for the agency? if not I am not sure the OR would see that as necessary. The OR is also very unlikely to let you keep both vehicles anyway.

Good luck with the CAB, and I would also still ring the Nat Debt Line or CCCS, as I went to the CAB, like you they were busy, and I got fobbed off, given a leaflet and then entered into an IVA which was missold to me, and now it has failed due to illhealth, so please be careful what you decide and get as much information as you can.

Jayen4

Rylynn wrote: »

You say the van and car are on a trade plate, is this your business, is this what you do for the agency? if not I am not sure the OR would see that as necessary. The OR is also very unlikely to let you keep both vehicles anyway.

Good luck with the CAB, and I would also still ring the Nat Debt Line or CCCS, as I went to the CAB, like you they were busy, and I got fobbed off, given a leaflet and then entered into an IVA which was missold to me, and now it has failed due to illhealth, so please be careful what you decide and get as much information as you can.

Rylynn.....

The car is fully taxed and insured (SD&P extension on my 'trade' policy),but the van is neither taxed or MoT'ed,but I can still use it under trade plates (which I still have). I used to buy and sell cars,vans and heavy trucks.....I simply kept on the insurance and trade plates,when I stopped doing that. The insurance is considerably cheaper that way,too. The van is a 91 H reg and I only paid £150 for it 2 years ago ! Would the OR still take that ?? (It's virtually scrap anyhow)...