BR Pensioners

60plus

Hello, I am looking into going Bankrupt but have so many questions I wondered if anybody can help?

My wife and I are both in our sixties living on state pension. We live in rented accommodation. We sold our home 3 years ago and got about 40K out of it. I have used this to live on and it has now all gone. I owe approx 60K on CC and bank loans.I wrote to all but one of my creditors when I sold the house telling them I could only pay £5 or to some £10 a month. They all accepted. The one I keep paying in full is linked to my bank account and i did not want to lose that.

If I do get the money together to go BR will the OR want to know

Where the money from the house sale went? (we lived off it)

Why I Payed one creditor and not the rest?

Would this stop me being made BR

I am such a mess and I have no idea what to do next.

dalip

60plus wrote: »

Hello, I am looking into going Bankrupt but have so many questions I wondered if anybody can help?

My wife and I are both in our sixties living on state pension. We live in rented accommodation. We sold our home 3 years ago and got about 40K out of it. I have used this to live on and it has now all gone. I owe approx 60K on CC and bank loans.I wrote to all but one of my creditors when I sold the house telling them I could only pay £5 or to some £10 a month. They all accepted. The one I keep paying in full is linked to my bank account and i did not want to lose that.

If I do get the money together to go BR will the OR want to know

Where the money from the house sale went? (we lived off it)yes i am afraid so

Why I Payed one creditor and not the rest?again yes

Would this stop me being made BRno if you are insolvent you are insolvent

I am such a mess and I have no idea what to do next.

Ok ring one of the charity debt helplines. There are two in my sig. That should be your first priority.Ask as many questions as you like,it keeps us busy and out of trouble.


Oh and welcome you have come to the right place for help,support and friendship.Dx

60plus

Ok Thank you. So although the OR will question where the money went and a lot of it I can't prove whats gone is gone and I can't get it back. What is the worst they can do to two pensioners? We have no money to live on, I have just had an operation to remove a cancerous tumor and my wife cannot work due to a heart defect. I don't even know where to get the BR fees from. If I stop paying my creditors for 3 months to save them can they ccj me?

dalip

The OR would prob ask some questions but don't think he "would do anything to you".The worst would be a Bancruptcy Restriction Undertaking(BRU). Which just prolongs the restrictions of bc for longer than the 12 months of normal restrictions.That said i think it is highly unlikely in your case

Most people as soon as the decide to go bc stop paying all creditors. You do realise that if both you and your wife go bc it will cost you £495 each.Although you may get £150 kocked off each if your income is below a certain amount ect.

So sorry to hear you have been ill, i do hope they managed to "get it all".

You really do need to ring one of those numbers as the judge will ask if you have taken proper legala dvice and if you haven't they may delay your petitions.Dx

60plus

Thank you for the advice. I will ring the cccs today.

As for a BRU, I never want credit again anyway look where it has got me!! The rises in interest rates are what hit me badly. I just don't want to have ccj's filed while I have stopped paying to save my fees.

The cancer had apparantley not spread so fingers crossed X

dalip

I am not clued up on ccj's but would have thought it would take longer than 3 mths to do.Maybe one of the others will see this post and be able to answer better.Dx

shirleymarye

I am also a pensioner,70 next week and I can't pay my debts either.
They are driving me up the wall constantly ringing me ! I have written to them all and offered them nothing because I simply don't have it to offer !
In a way it might do me a favour to get a CCJ as I am in Scotland and rules are a little different here. I am hoping to see someone next week about my problems.

Costus

Hi there sorry to hear about your poor health 60plus. Sounds like your operation went well though, good luck to you on that.

The only advice i can give to you about CCJ's is from my own experience.

We were paying each of creditors £1 per month for approx a year, then we stopped paying them anything for 3 months as we were trying to save as hard as we could for our BR.

During this time i recieved a notice and a date for a County Court hearing, this was at the end of the the first month we stopped paying them anything.

The court case came and went and i stupidly never attended the court.

The court decided that my creditor won the case by default as i never turned up, and said that they were allowed to claim the ridiculous amount they had asked for, and sent me notification to pay them before the 1st of the next month, or the bailiffs would turn up etc.


I decided to contest the amount by filling in a N245 variation form, i got this by going directly to the county court.

The N245 form is basically a SOA, (Statement of affairs) which you fill out and send back to the court along with a fee of £35.

I filled mine in and it worked out that i could only pay 3% of what the creditor was asking for.

This was accepted by the court.

I made one payment towards my CCJ and then declared myself BR, as CCJ's get put into BR.

So even if you do get a CCJ court date contest it first time, and save yourself £35, enclose your SOA with your CCJ paperwork and it won't be a problem.

The Creditors cannot have what you don't have !

Your health is much more important that these debts, so please do not worry about them or feel guilt about what you owe.

We will help you with advice and support all the way through your journey.

Hope this has helped you.

60plus

Thank you, that is what I was most worried about. I have little enough as it is without bailiffs at the door!

Costus

You will only get bailiffs turn up IF you ignore a CCJ.

Anyone else that turns up at your door before you default on a CCJ is a debt collector, even though plenty threatened no one ever turned up at our door even though we were paying them £1 a month for a year, so don't worry.

Debt collectors have no rights whatsoever, your paperboy has as many rights as they do, just don't answer the door or tell them to go away, politely or not so, which ever you see fit.

So like i said CCJ's aren't to be feared, just don't ignore them.

If you get one post on here and we will help you out.