advice re bankruptcy

DON79

Hi everyone, another question please.

I have a littlewoods catalogue account which my husband has been paying because he ordered a laptop from it. because he is paying for it, I didn't include it with cccs (probably a bit stupid i know). How would the OR view this?
Would I be better to try get this paid off before going bankrupt?

betterlatethannever

I take it the accounts in your name?

Is there much to pay?

Paying off this account too close to BR wouldn't look good and would be seen as favouring a creditor.

You need to included it in your BR.

If your hoping that not including it will mean you can keep it after BR, then you have to disclose your BR to anyone offering you over £500 of credit and i'm guessing you have a credit limit of much higher than this?

DON79

Hi, yes it has something like £6000 credit limit :eek: but there is only about £500 on it. I am not really bothered at all about keeping it as I have not ordered anything in months from it. Only this laptop that my hubby wanted and I wish we hadn't done now anyway as it happens!

I haven't even started the BR process going yet as will need time to raise money for fees etc so am hoping that can get this paid off before even start the process.

If it is paid off before I start going BR, do I have to disclose debts that are already paid off or is the OR only interested in debts which are outstanding?

betterlatethannever

You don't have to disclose already paid off debts, but, if your going to stop paying all your creditors (as you really should do when going BR) but continue to pay one of them, then the OR will be able to see this and could, potentialy ask littlewoods for the money back and slap your wrists, hard!

I paid off my next catalogue before bR but it was 6 months before, and was only £86.
£500 paid off is a lot and will be visible to the OR.

Think of it this way, if you lent a friend £50 and someone else lent the same friend £50 then the friend said i'm going BR so your not having your money back, but i am going to pay back my other friend who lent me £50, you'd be peed off.:rolleyes:

DON79

well am paying through cccs for other creditors just now so won't be stopping cccs payments just now till can raise money for BR. so hope to get my husband to try clear this a bit quicker and leave it a while before going BR. cccs estimate would be paying debts til 2061 so if I have to wait another year before going BR its not going to make a great deal of difference to my cccs dmp probably. I would like to start the process earlier but think am going to have to wait a while.

deedee_3

If you are DEFINATLY going down the bankruptcy route then you stop paying CCCS and save the money you would have been paying them for your bankruptcy fees. If you talk to CCCS this is what they will tell you to do.

betterlatethannever

Sorry Don, i hadn't read the whole of your thread and didn't realise your with CCCS.

Have you discussed BR with the CCCS? they have an excellent BR team.

DON79

thank you but what i am worried about is if I do this now and the OR sees that my hubby has been paying the littlewoods catalogue even tho in my name, i will get in serious trouble? I need to know whether would be better to just do it now or wait until my hubby has paid off the littlewoods thing. I am very worried about how the OR will react. I don't care if he gives me a bro, it's just the stress of it all.

DON79

I emailed cccs to ask about the bankruptcy option but I guess they are busy cos they haven't gotten back to me yet. It is also how they would react because they don't know about the littlewoods catalogue and I will be classed as having broken their agreement for not telling them about it. I been very stupid.

betterlatethannever

The best thing would be to include the Littlewoods debt in your Br and do it now, unless your hoping for a change in circumstances and think that BR is not for you.
As i said (and DeeDee) ring the CCCS and speak to the BR team. They'll make you an appointment to call you and are ace. You may have to wait a couple of weeks + for the appointment.
The ORs not going to be interested then, nor does it matter who pays the debt, just that the debt is in your name.