How Long for Creditors to make him BR? how will it effect me?

Helen47_2

Dear All - I hope you can help.

My fella is waiting to be made bankrupt by his creditors. his total debt is around £90k (to approx 3 creditors). The creditors have sent statutory demands which he replied to and told them he couldnt afford to pay. He has received 3 in the last 6 months from the same company. He has told them for over a year now that he cannot pay and wants to be made bankrupt but they just keep writing and calling to ask for the money. He moved in with me 9 months ago but he is still registered at his parents home (as I dont want to be dragged in to this whole bankruptcy thing - have dodgy credit myself which i am slowly resolving) He was self employed but he has now got a job paying some money and his 'business' is listed c/o my address. He pays toward the bills each month and maintenance for his child with his xwife. I wanted to know 2 things:
1) how long does it usually take the creditors to apply to make him BR?
2) how will it effect me?

really appreciate any advice you can give.

skylight

He should not hold out that a creditor will make him BR. 99.99999% of the statutory demands send are idle threats to scare you into paying ASAP. It costs them a silly amount of money (3 times what it would cost him) and they are highly unlikely to recoup that cost, so its not worth it to them. However, it is free to send a statutory demand, so this is why they are bandied about like sweeties. The only exceptions to the rule appear to be Council Tax, HMRC (for tax) and AMEX. Its not going to happen. He is far better off petitioning for his own bankruptcy and getting it over and done with.

As to you, his bankruptcy will not affect you at all, provided you have no joint debts with him - no joint accounts/credit cards/loans etc. And no joint assets.

skylight

Oh - and the making BR bit - just to add. He "may" find that if he owes someone personally rather than a financial company that he could be made BR. Because then it is personal to the "lender" as OH is not an account number on a computer.

Just wanted to add that in. As I said, it may not be worth his wait.

Helen47_2

Thanks so much for that. I had expected that to be honest and I think I have to try and pursuade him that he has do file for it himself. He did tell me that he wanted them to do it because it will cost them and not him but for the sake of a few hundred quid I'd rather he just get the ball moving. He doesnt have any debt with those listed - I think most are credit cards (not Amex though). He's already been waiting nearly 2 years from what I understand and in those 2 years he could have been well on his way to not only becoming discharged but thinking about working on his credit.

maxmycardagain

it gets tacky when the creditor decides to go for a CCJ so seize goods- and that would be his parents address, that would be the time for him to file for BR, plus his mum+dad may get DCA call round, bailiffs could serve a distraint warrant on goods in the house too

tell him to do the decent thing by his parents...........