Bankruptacy or charging order

blind-as-a-bat_2

As already said they are trying to frighten you at the moment with just a threat then, What was/is the debt, and how long is it since it was taken out?

You cant egnore the fact they could go for a charging order, but as the others say the only way they will get one is if you let them

Queen

Debt is a unsecured loan which was taken out 2 yrs ago

blind-as-a-bat_2

Ok then its unlikely a CCA request will help you tip the scales.

Im at a loss though as to your comment "Still waiting for RBS sols to contact me with regards to charging order"

If they have not gone to court yet that is not even an option for them yet.

Have RBS served you with a default notice on the account yet?

How many payments have you missed?

Queen

yes payments missed since April only paying token payment, default notice issued in June, letter from RBS saying sols instructed to obtain a charging order buit nothing from solicitors

blind-as-a-bat_2

Ok then im pretty confident they are just trying to frighten you at the moment into paying more than you can afford.

Thats not to say they may not follow through in time, but if you have not heard anything else since that threat i wouldnt worry until something does turn up, we can then deal with it as and when.

The main problem is until you get your income back on track you cant do anything really, the question is really what do you want to do assuming your OH gets back to work OK and his income can then be relied on.

You do need to make some token payment as soon as you can unless you decide to go BR anyway, If your seen by a court to be trying to pay your debt, if it comes to that, they are less likely to allow a charging order.

So what will your I&E look like once your OH is earning again, does it make a big enough differance to be able to offer a reasonable payment to all your creditors?

Queen

making token payments already all up to date with those, but RBS won't accept £200 a month whichw was the original payment they want £590 per month as they want this paid off in 5 yrs not 13 which is the remainder of the term left

Queen

anybody had the same problem with RBS

shadowdragon

blind-as-a-bat wrote: »

Its hard to face such a lifestyle change, trust me i know how it feels, from 30k+ to benefits is hard to deal with.

I agree 100%, and its totally doable, my partner and I are on benefits from a £40k+ combined income, it takes time to adapt but you do.

Queen

thanks for comments but cccs have said its likely that judge will decline app for BR due to the shortfall, combined income of approx £1775, mortgage of £825, secured loan £120 and utility bill of £550 this give a total of £1495 leaving approx £280 this is to feed a family of 4, school travelling or £20 per week, schools meal £45.00 per month this does not include anything for entainement, holidays, christmas etc, or clothing but what I need some advice on is when my OH is back at work hopefully Monday see how he goes for while, when RBS have applied at court for CO then go BR is this best or just let the CO go ahead and pay what the judge decides

Queen

Morning, not having a good day 2 of my creditors are asking for more money than I can afford what do I do