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Bankruptcy or Debt management?????
Bamalam
Posts: 9 Forumite
Hi guys
Ive been on a debt management scheme for almost 3 years,owing roughly £40k in total,the issue i have now is,im now unemployed and ive not made a payment to my debt management plan for two months,i have two ccjs against me now and this morning i had a pre baliff card through my door,is bankruptcy the only option now as im not earning?
Ive been on a debt management scheme for almost 3 years,owing roughly £40k in total,the issue i have now is,im now unemployed and ive not made a payment to my debt management plan for two months,i have two ccjs against me now and this morning i had a pre baliff card through my door,is bankruptcy the only option now as im not earning?
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Comments
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Hi Mate.
Im sorry to hear of your trouble.. I dont know the answer but if i was in your poss then i would concider it. If you dont own your house then id ngo for it. If you do then you need to get some advice from the cab as you could end up having your house taken away
best of luck mate:jYou can have everything you wont in lfe, If you only help enough other people to get what they wont.:j0 -
Cheers Halight0
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Have you spoken to the CCCS about your options?
"Stay Wonky":D
:j:jBecome Mrs Pepe 9 October 2012 :j:j0 -
Hi guys
Ive been on a debt management scheme for almost 3 years,owing roughly £40k in total,the issue i have now is,im now unemployed and ive not made a payment to my debt management plan for two months,i have two ccjs against me now and this morning i had a pre baliff card through my door,is bankruptcy the only option now as im not earning?
Who is your DMP with?
Are your CCJ's up to date and are they set at an affordable amount?I am a Debt Counsellor that works for the CCCS and have specific permission from Martin, to post on these boards to try and help those in debt. Read more information on the CCCS and what it does in the Debt Problems: What to do and where to get help article.
CCCS is a registered charity, and there is no charge whatsoever for any of the services we provide to our clients. We take great pride in offering first class help and advice, but we only offer this where we have been able to fully explore and understand your circumstances with you. We want to help you understand these choices and their possible implications but not make them for you.
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Hi Bamalam,
Sorry to hear of your troubles, if you own your house i think an IVA would be a good option as you can keep your house? not sure where you would stand with not earning at the moment though? Is this likely to be an ongoing thing or do you hope to find work soon?
All the best x0 -
I live with my mum at the moment so im kinda scared on that front and also the outstanding ccjs probably total up two thirds of the total debt i actually owe0
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I have yeh,i have an appointment next thursday morning with them but its giving me such a headache right now,aint sure if bankruptcy is the option though to be honest0
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I to live at home - very difficult when you have debt - and cant afford to move out!!! :mad: You should find work soon shouldnt you?? I would look at IVA or talking to your DMP people - who are you with? Is it Payplan or CCCS?0
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I have an appointment with CCCS next thursday yeh but im becoming very concerned about the baliffs letters etc0
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You will only get a bailiff if you have defaulted on a CCJ, so if you are up to date nothing to worry about.
If you have a CCJ and you can not afford this you will need to complete a form called an N245 to vary the judgment. You will then be able to make a new offer of what you can afford – this could even be £1 if that’s all you can afford.
There is normally a charge for a N245 of £35 but if you have no income you will be able to also complete a EX160A and then this should be free.I am a Debt Counsellor that works for the CCCS and have specific permission from Martin, to post on these boards to try and help those in debt. Read more information on the CCCS and what it does in the Debt Problems: What to do and where to get help article.
CCCS is a registered charity, and there is no charge whatsoever for any of the services we provide to our clients. We take great pride in offering first class help and advice, but we only offer this where we have been able to fully explore and understand your circumstances with you. We want to help you understand these choices and their possible implications but not make them for you.
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