Ask a CCCS counsellor a bankruptcy question

CCCS_Matthew

alan_haldane wrote: »

I am a discharged bankrupt and have been going through martins suggestions for buildings insurance ,several wouldnt quote as there is a bankrupt residing in the house .The house belongs to my partner and the insurance is in her name but she is being descriminated because i live with her !!! Any idea why i am such a bad risk ? I obtained motor insurance without a problem >

Hi Alan,

There is no reason that we are aware of to explain why bankruptcy should affect your ability to get home insurance. It could be something to do with the payments being spread over the months using a credit agreement that you don't qualify for, but it sounds like you are not getting to that stage as they won't even provide a quote.

If I was completely guessing they might think bankrupt people are more likely to burn a house down intentionally to claim on the insurance, but that sounds a bit far fetched to me.

Next time you are turned down it might be worth asking to speak to a manager or making a complaint to see if you can get a straight answer.

Sorry I couldn't be more help and good look finding someone who will offer you cover.

CCCS

CCCS_Sarah

Shel wrote: »

Hi.

I am currently doing a DMP with CCCS. most of my creditors have gone quiet and seem to have accepted what i'm doign apart from my major debt Halifax. They have since passed the debt onto Albion debt recovery and as they have the phone number for my parents (where i was living when I took out the loan) home they have called there several times saying its in my interest to call back.

I can't possibly tell my parents about my debt, is there anyway for me to stop them calling there. I thought if i answer my mobile to them and ask them to stop calling there they may continue as they would know its why i answered my mobile.

any advice?


My second question is I have just started a new job so my pay is slightly different and my first month quite considerably lower. I am due to make my payment by 10th May, would it be too late to discuss reducing this payment with CCCS and if so is this likely to stir up trouble with the creditors that have gone quiet?

Hello,

Thank you for your message.

I would recommend that you call our client support department as soon as possible about your wage and let them know its going to be lower this month.

With regards the phone calls, you could just put together a short letter explaining that this number is not yours and you would like it removing from your account. If they continue calling after that, you could make a complaint to the OFT.

Hope this helps
Sarah

CCCS_Matthew

mcajshaw wrote: »

Hi guys,

I have a couple of really important questions that I hope you maybe able to answer for me. Firstly, can I include payday loans in my list of creditors, and if so how do I date them? I keep "rolling over" the loans so in effect there is a new agreement each month. I am worried that it will look like I have just taken lots of loans with the intention to go bankrupt when really the cycle has been going on for months.

Secondly, because I now live back at home I have no rent to pay for the moment (parents are not charging me given bad finances). I have approximately £20,000 of debt including friends and family. Will they still let me go bankrupt, or do I risk losing my £600 because they will say in time I will have lots of surplus income?

I hope you can help on both these points for me,

Jonathan.

Hi Jonathan,

For you first question I assume you are talking about the bankruptcy application. If this is the case then you should list your pay day loans on there. I would suggest putting down the date you actually took the loan out originally if you know this, or if it is like a new loan is taken out every month you could make a note on the forms to explain this.

If you have lots of surplus income it may well be that bankruptcy is not your best option and if the court doesn't think bankruptcy would be the best way to deal with your debts then they may not approve it. I would suggest getting some advice before going bankrupt to work out whether it is genuinely the best way to deal with your debts. You can create an income and expenditure budget and get advice on line using our Debt Remedy which can be found here.

Hope this clears things up.

CCCS

CCCS_Sarah

KITTENPOP9 wrote: »

Hi there,
Hope you can shed some light on this... Me and OH went BR in March, we have a house which we're pretty sure is in negative equity and we haven't bought the BI as we can't afford it. The other day we recieved two letters in the post a B136(TIB) Notice of an application to register a restriction against the land and also B178 Notice of an application to register restrictions against the land.....What are they for exactly and what do they mean? I really haven't got a legal brain and am quite puzzled by them. They have to be signed and sent back so any info on them (in layman's terms) would be greatly appreciated!
Many thanks.

Hello,

These are basically restrictions that the official receiver that has put on the house so that you can not take out further borrowing or sell the house without them knowing, if you tried then the OR would be made aware of this.

Sarah

FYELLOW

Hello,

I really need some help, my husband and I have been been making token payments to our creditors since September last year and to our Mortgage Lender and were dealing with the CCCS who passed us onto a Debt Management Company who are having a creditors meeting next week to ascertain whether or not we can have an IVA or be made Bankrupt.

However, my husband and I are in a real quandry, my husband doesn't have a secure job as if the IVA is accepted it will be considered gross misconduct and he will be sacked, then we will be back at square one. My job will not pay the mortgage, IVA and utilities.

We really do want to keep our house but wonder if it would be in our best interests to go bankrupt now as there are so many variables with an IVA, such as if the mortgage interest rates rise, we will have to find the additional money from somewhere and something will have to give. What if I or my husband lose our jobs etc. It seems that if we are paying an IVA for 3 years and then they force bankruptcy, then that is putting us where we are now.

We have a 1 year old son and want to do what's best for him and for us. We live in an area that is an unemployment blackspot and my husband has been looking for another job for around 6 months (to ensure that he has a job he won't get sacked from!) and he cannot find anything else.

Obviously if the IVA isn't accepted then we have no option, but we really need some help to decide what to do.

If we are made bankrupt, then we can move back to the city that I am from which has a lot more opportunities for employment but it is the thought of moving and losing everything we have worked so hard for. It is a tough decision and any help would be greatly appreciated.

Thank you.

decoratingbutterfly

Hi
I have a dmp set up with cccs, Im saving up to go bankrupt.
Im due to get married in August but am worried I might not save the money in time, once Im married does the bankruptcy then include my husband aswell or would it still only be in my name.
Also, would it be beneficial to me to go bankrupt before I marry with my maiden name and then getting married therefore changing my name?

Thank you

flowers2veg

I dont know if anyone can help me but I am looking for help for my recently widowed father. As you can understand his finances have changed since the death of my mum. As such he is struggling to pay a loan I have only just found out about, which was given to him at the age of 70 for 20000. This I find unbelievable and am still in shock about the bank manager would not give him repayment insurance because of his age but would give him a loan for this. Well now with much reduced incomming he is in a bad way financially. He does own his own home which is worth about 100000 with a mortage of about 35,000 with the same lender of the loan. He has about 500 coming a month and can barely put food in the cuboards. I am trying to help as much as I can but times are tough. Any advice would be gratefully recieved. thankyou.

CCCS_Matthew

FYELLOW wrote: »

Hello,

I really need some help, my husband and I have been been making token payments to our creditors since September last year and to our Mortgage Lender and were dealing with the CCCS who passed us onto a Debt Management Company who are having a creditors meeting next week to ascertain whether or not we can have an IVA or be made Bankrupt.

However, my husband and I are in a real quandry, my husband doesn't have a secure job as if the IVA is accepted it will be considered gross misconduct and he will be sacked, then we will be back at square one. My job will not pay the mortgage, IVA and utilities.

We really do want to keep our house but wonder if it would be in our best interests to go bankrupt now as there are so many variables with an IVA, such as if the mortgage interest rates rise, we will have to find the additional money from somewhere and something will have to give. What if I or my husband lose our jobs etc. It seems that if we are paying an IVA for 3 years and then they force bankruptcy, then that is putting us where we are now.

We have a 1 year old son and want to do what's best for him and for us. We live in an area that is an unemployment blackspot and my husband has been looking for another job for around 6 months (to ensure that he has a job he won't get sacked from!) and he cannot find anything else.

Obviously if the IVA isn't accepted then we have no option, but we really need some help to decide what to do.

If we are made bankrupt, then we can move back to the city that I am from which has a lot more opportunities for employment but it is the thought of moving and losing everything we have worked so hard for. It is a tough decision and any help would be greatly appreciated.

Thank you.

Hello,

From what you have said about your husband's job it sounds like an IVA could cause you a lot of problems. It would be best to explain the situation to the people proposing your IVA and they will see if an IVA is still a viable option.

If your husband definitely cannot keep his job on an IVA then it will be best to get back in touch with us and we will be able to give you advice on your other options, including bankrutpcy. If your husband's job would be affected by an IVA then it is very likely that bankruptcy would also put his job at risk.

CCCS_Matthew

decoratingbutterfly wrote: »

Hi
I have a dmp set up with cccs, Im saving up to go bankrupt.
Im due to get married in August but am worried I might not save the money in time, once Im married does the bankruptcy then include my husband aswell or would it still only be in my name.
Also, would it be beneficial to me to go bankrupt before I marry with my maiden name and then getting married therefore changing my name?

Thank you

Hello,

Bankruptcy is something that you do as an individual, so you fiance would not be made bankrupt whether you are married or not, it will just be you.

As far as I can tell there is no real difference between which name you go bankrupt in, apart from the fact the bankruptcy will be registered in the name you have at the time you go bankrupt.

Hope this helps.

CCCS_Matthew

flowers2veg wrote: »

I dont know if anyone can help me but I am looking for help for my recently widowed father. As you can understand his finances have changed since the death of my mum. As such he is struggling to pay a loan I have only just found out about, which was given to him at the age of 70 for 20000. This I find unbelievable and am still in shock about the bank manager would not give him repayment insurance because of his age but would give him a loan for this. Well now with much reduced incomming he is in a bad way financially. He does own his own home which is worth about 100000 with a mortage of about 35,000 with the same lender of the loan. He has about 500 coming a month and can barely put food in the cuboards. I am trying to help as much as I can but times are tough. Any advice would be gratefully recieved. thankyou.

Hello,

Thanks for posting. I think it might be worth your father having a telephone counselling appointment with one of our advisors. They will be able to help him draw up an income and expenditure budget and talk him through what options there are available. Our number is 0800 138 1111.

It does sounds like a lot of money to have lent to your father at his age, though whether they were doing anything they shouldn't have is often hard to establish. If you feel that your father should not have been given this loan due to his age you could contact the Financial Ombudsman and ask them to investigate.

Hope this helps.