Bankruptacy or charging order

Queen

Thanks, been to see consultant a bit of sunshine my OH has the condition he thought and changed meds, should see a dramatic change in a few days and will review in 4 weeks time, OH is going back to work tomorrow he has no choice poor love and will review finances again as we do not have the funds to go BR.

Queen

Many thanks for all your comments, some better news today OH was went back to work to a meeting job is safe for now so will perhaps see how things go, I have my telephone appt with CCCS tomorrow so will see what they think before I make the final decision, but a load off my mind, though they were going to get rid of him due to illness.

Thanks again for all your kind and good advice:j this site and its members have really kept me going.

deedee_3

Hope things go well for you tomorrow. Good luck with everything, let us know what happens.

Queen

Will keep you updated

Queen

Hi had te;ephone appt with CCCS who have cpmpletely stripped back budget so that we should be able to afford £202 per month for credit, advisd that my income is dropping but she needed to take income that I am on now we have another appt at the end of October she will then advise if bankrupatcy is the option or not but advised that we would definately lose the car as they will only allow an aount upto £1000 nd its approx vaue is £2500 still unsure if we should really struggle or bite the bullet, some of the figures used for budget were not the same as debt remedy which I completed on their site

blind-as-a-bat_2

I wish they wouldnt say stuff they are not qualified to comment on, that is the car, they are in no better position to say you will lose it than i am, its a pure guess, not to metion a wrong one, it clearly states the OR can go up to £2000 before considering selling a car and that can be higher if the situation warrents, but we have all seen OR,s take cars worth £200, yet allow others for £3500+ so there is no way anyone can predict if you will lose the car or not. :mad:

Sorry rant over

As for getting your creditors to agree to a split of £202, you will have to see how you get on, RBS wont be pleased, but its that or nowt as they say:D

Queen

Thank you for your comments, just worried were she has got the 202 from each month and calculated that if creditors stopped interest then debt would be clear in 12 yrs. so we have to live hand to mouth for the next 12 yrs with the stress and worry, she has gone away and will check figures and at 2nd appt with advise what is the brest option has I told her RBS will not accept and DMP or IVA, perhaps she is now thinking that BR is the best option

blind-as-a-bat_2

Queen wrote: »

Thank you for your comments, just worried were she has got the 202 from each month and calculated that if creditors stopped interest then debt would be clear in 12 yrs. so we have to live hand to mouth for the next 12 yrs with the stress and worry, she has gone away and will check figures and at 2nd appt with advise what is the brest option has I told her RBS will not accept and DMP or IVA, perhaps she is now thinking that BR is the best option

There does seem to be a trend starting where the banks are refusing to enter a DMP and even pulling out of one already in place, but there is not enough cases yet to say that for deffinate, or if they are just empty threats, so its hard to say, but there does seem to be an increase in creditors trying for charging orders, but that is also hard to say if its a new hard line aproach.

All you can do is go along with it, but if you feel you cant stick to the budget it may be best to cut your losses. Its a hard call really, and i sense your not convinced what she said is workable

You could always cantact some other debt charity for a second opinion

Queen

just looked on parkers guide and car would be worth in good condition £2665 do you think they would still make us sell it, if its needed for work.

blind-as-a-bat_2

Well thats the hard bit because parkers guide prices are not what you ever get for a car, and if you where to sell it to a dealer or auction then you would be lucky to get half that.

The trouble is convinceing some examinors that that is the case in the real world, one of the reasons a car is so hard to predict in BR, because some examinors take it as read that it is worth what parkers say:rolleyes: , older and wiser ones know its not so may exempt it as its not worth the paper work:D , then others will make you believe its worth that to try get some money out of you so you can keep it so they can hit there targets:mad:

Thats why no one can say if you will get to keep it as there is no consistancy in the aproach differant OR,s examiors take.

But if it should be classed as exempt they should allow some funds to be returned to replace it out of the sale, they are not supposed to take any action that would deprive any BR the chance to earn a living