Bankruptcy/CCJ

$17mma

Is it true that Bankruptcy lasts and only stays on file now for 18 months? where as CCJ'S defualts last for 6 years?

SO really the best thing to do if you are backed againstawall is to declare yourself bankrupt stick it out for 18 months then hope for the best and start again rather than waiting the long haul of 6ears for a default or CCJ to come off your file

What would you do? is there a certain criteria for declaring yourself bankrupt?

file_wizzard

$17mma wrote:

Is it true that Bankruptcy lasts and only stays on file now for 18 months? where as CCJ'S defualts last for 6 years?

SO really the best thing to do if you are backed againstawall is to declare yourself bankrupt stick it out for 18 months then hope for the best and start again rather than waiting the long haul of 6ears for a default or CCJ to come off your file

What would you do? is there a certain criteria for declaring yourself bankrupt?

It is possible to become "discharged" in this time, the record will remain on your file for 6 years

jellycat40

As a bankrupt you could be discharged in a little over 6 months and almost certainly within a year. Obviously everyones case is different and you have charges applied to property and allsorts of things with bankruptcy. However as said before it still stays on your record for6 years. Once you are discharged you can contact the credit reference agencies and have your record updated to show you are discharged.

Bankruptcy is a final option in many cases and if you have debt you can't manage you need to get appropriate advice.

Louise

Entrepreneur_en_faillite

$17mma wrote:

Is it true that Bankruptcy lasts and only stays on file now for 18 months? where as CCJ'S defualts last for 6 years?

SO really the best thing to do if you are backed againstawall is to declare yourself bankrupt stick it out for 18 months then hope for the best and start again rather than waiting the long haul of 6ears for a default or CCJ to come off your file

What would you do? is there a certain criteria for declaring yourself bankrupt?

Ooooh no no no no no

Standard bankruptcy lasts one year (unless you have done something 'naughty') although you can be discharged after as little as six months. Once discharged the record stays on your file for six years.

CCJ's and defaults stay on your file for ix years from the date they are registered irrespective of whether they have been paid or not.

One word of warning - bankruptcy is not for the feint hearted!!!!!!!

xezx

My other half lives in a shared house with 3 other people.
The gas and electric is in his name. One of his house mates has now stopped the standing order into his account and keeps swerving him so he doesn't have to pay.
My other half is on Job seekers so can afford to pay for 2 peoples worth of Gas and electric + rent etc. Yesterday His house mate attacked him and threatened to kill him if he asked for the money again. Stamping on his neck. He cut his hand in the struggle. He said there was no way he was going to pay the money and he was going to take off so he didn't have to pay. He is too scared to try and get the money from him but he also on the other hand cant afford to pay the bills. The landlord is aware.
My other half has now encored CCJs which is going to ruin his credit rating (what if we want to buy a house together??!?!)
Do you think it is worth him taking this to court? Maybe he could declare bankruptcy? will he be able to get the money back from him and if he does will he still get a bad credit rating?
Help would be much appreciated

fermi

xezx wrote: »

My other half lives in a shared house with 3 other people.
The gas and electric is in his name. One of his house mates has now stopped the standing order into his account and keeps swerving him so he doesn't have to pay.
My other half is on Job seekers so can afford to pay for 2 peoples worth of Gas and electric + rent etc. Yesterday His house mate attacked him and threatened to kill him if he asked for the money again. Stamping on his neck. He cut his hand in the struggle. He said there was no way he was going to pay the money and he was going to take off so he didn't have to pay. He is too scared to try and get the money from him but he also on the other hand cant afford to pay the bills. The landlord is aware.
My other half has now encored CCJs which is going to ruin his credit rating (what if we want to buy a house together??!?!)
Do you think it is worth him taking this to court? Maybe he could declare bankruptcy? will he be able to get the money back from him and if he does will he still get a bad credit rating?
Help would be much appreciated

This is a very old thread and your query would be better of in a new thread of your own.

So I've copied your post into a new thread for you.

Here

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> Is there anything we can do?