Posted on behalf of helpme80 - bankrupt or lose my savings, please help

DON79

I suspect though that these are not really the sort of answers that the OP is looking for really. they are maybe looking for ways to get out of debt but still keep their money. which is just not going to happen! If the OP completely ignores all their debts until the day they die, the 25k will form part of their estate anyway along with any house and the creditors will get in then. so it is keeping money safe for nothing really. they creditors will get their pound of flesh in the end one way or another, be it through your savings now or your estate when you die. not wanting to be all morbid but that's the way it works.

maxmycardagain

someone really cute would negotiate a minimum payment, and keep to it for 3 years but immediately withdraw the cash and close the account.

after 3 years paying a bare minimum they would then default and spin it out for as long as possible at £1 a week.

eventually the CCJ's would start, and maybe just before the baillifs come knocking it would be time to go BR, its quite possible the OR could miss the closed-4 years account and the cash.........

(this is not advice or a suggestion, simply what SOME would do, other courses of action are available.......)

the worst taht could happen is a BRO/BRU but with 200,000 going BR a year the OR must be snowed under...

maxmycardagain

lets just say the director of the company that took me for £14,000 still has his £400K (2002 price) house, and his sons bird opened a new shop a week after his ltd company plundered quite few others.

chelseabun_3

Crikey Max! That IS cute! Not that I'm approving, other methods of screwing people around are available ...

Makes you sick, hearing about the guy who owed you. It does seem that those who have money tend to be able to keep it. I've never had any, and doesn't look like I'll get any in the near future. (:eek: Money - that is!!:D)

maxmycardagain

dont worry, hes on my "to do" list

maxmycardagain

id also stick the £25K gold sovs or rands and put em in the safe

in 5 years id sell 1 week and enjoy the extra each week no-one knew about...

maxmycardagain

fiveyearplan wrote: »

If it was me I would write and offer full and final settlement. I'd start by offering 10% and work up from that. I wouldn't start at 50% as that would take all your savings and if thats your starting point you have nothing left to negotiate. If you do end up going to 50% you'll have no savings but at least have no debt either.

Write by explaining your circumstances (ie being on a pension and in ill health) and be prepared to haggle. This may be a long process but you should be able to come to a mutually acceptable solution.

so long as HSBC/TSB/Visa,etc all have a good xmas thats all that matters i suppose...

fiveyearplan

maxmycardagain wrote: »

lets just say the director of the company that took me for £14,000 still has his £400K (2002 price) house, and his sons bird opened a new shop a week after his ltd company plundered quite few others.

What kind of bird did his son keep, was it a pigeon, hummingbird, dove?
:rotfl:

fiveyearplan

maxmycardagain wrote: »

so long as HSBC/TSB/Visa,etc all have a good xmas thats all that matters i suppose...

I did suggest he starts at 10%, that is what a DCA would buy the debt for.

maxmycardagain

fiveyearplan wrote: »

What kind of bird did his son keep, was it a pigeon, hummingbird, dove?
:rotfl:

vulture i think cos the whole family are carrion...

5 year uk gold prices...