Ask a CCCS counsellor a bankruptcy question

mummymummy03

first time on here so plz be nice. today we have been and declaired bancruptcy, told we will get a call within 48 hrs not sure what this is for????
but we put on the form some traffic fines that are with the bailiffs,hubby thinks theses are covered in the bancruptcy but are they??? they told us not to pay any bailiffs just dont want them knocking on our door, any help with this would be a big help, thankyou

StepChange_Pavan

mummymummy03 wrote: »

first time on here so plz be nice. today we have been and declaired bancruptcy, told we will get a call within 48 hrs not sure what this is for????
but we put on the form some traffic fines that are with the bailiffs,hubby thinks theses are covered in the bancruptcy but are they??? they told us not to pay any bailiffs just dont want them knocking on our door, any help with this would be a big help, thankyou

Hi mummymummy03,

Sue has answered this question for you in Private Messages.

Regards,
Pavan

philnicandamy

double post as well...same question been asked and answered in the forum....

CCCS_Sue

shellyk1 wrote: »

Well I suppose its how you look at it, bacause when we bought the car it was £6500 of which £3500 was our part exchange car which was paid for by my husband, the other £3000 was money from the redundancy payment.

Hi Shellyk1,

Even though the car is registered in your husband’s name, the Official Receiver may look at who paid for the car. If they do consider that part of the car is your asset, they may allow you to buy a cheaper alternative. You will need to discuss this with your Official Receiver as it is ultimately their decision

It is up to you to convince the Official Receiver that you need the car for work and school runs. Here is a link to another part of this website which gives you more information about what can happen to your car: https://forums.moneysavingexpert.com/discussion/1056247

Hope this helps.

Regards,
Pavan

StepChange_Pavan

foxfeatures wrote: »

Hi,

After many years of ignoring my sitaution (burying head) and it spiralling out of control, I came to the conclusion that bankruptcy would actually be my best option. This would give me life back slowly and feel like Im would have a future instead of being trapped as at the moments my loan repaymants last for another 20 years or more.

I've been advised that a DMP may be my best option paying around £650 a month for over six years. Despite filling in the online budgets I don't think i can afford this. I'm fortunate as my board is modest at the moment. Also, I'm already 31 and have moved back home to help me but if I took the DMP I wouldn't be able to leave home until I am nearly 40. I don't think my parents would be very happy with this! I want children and this would rule this out too. Surely, if I am brave and go through the bankruptcy (I know this is not the easy option but do think it is my best option) then at least I have the chance to live modestly on my own?

Do I have to agree to the DMP or can I continue with the bankruptcy? Or would they reject it anyway?

Thanks

Hi,

It may be better for you to have a chat with one of our counsellors to discuss your options in more detail. Debt Remedy may have suggested a DMP as your best option but it won’t have taken into consideration the potential changes in your circumstances.

I would recommend that you call the web support team (their contact number will be in your advice booklet) as they will be able to access all of your details.

Hope this helps.

Regards,
Pavan

evenstar2009

hi everyone

i'm about to start a new job and at the same time have got the tax code request info from the OR's solcs - do i need to tell my future employer about the BR as they'll find out when the zero tax code comes in won't they? My current employer has been fine about it all but this is a new one and i don't want to start off under a cloud (its not a finance job its a council job)

Any advice would be great

thanks

;0)

lolz84

hi, im needing a little advice on voluntary surrendor of my property for sequestration.

i have received papers in from a company acting on behalf of my mortgage ledgers stating they are a 'calling up notice' . Before i sign these and send them back i wanted to find out that there is nothing in the wording that could come back to 'bite me in the bum' so to speak!

1 part is an unsecured loan mandate stating >>>> 'i hereby authorize and instruct ...... to deduct from the net free proceeds from the sale of said subject (my property address) all sums sufficient to pay off sums due to Northern Rock together with any other expenses or other sums due. i declair this mandate to be irrevocable. >>>>>> Is this OK to sign and agree to??

2nd part >>>>> indemnity .... i hereby acknowledge that notwithstanding that i have signed the attached calling up notice i shall remain responsible for the property until such time as Northern Rock has entered ito possession of the property in terms of the relevant legislation. i undertake to free,relieve and indemnify northern rock in respect of any costs incurred by northern rock in resepct of the property attributable to the period fro the date of this indemnity to the date on which northern rock has entered into possession of the proerty.

I acknowledge that i was afforded the opportunity to obtain independant legal adviceregarding the terms of this indemnity prior to signing. >>>>>> IS THIS OK TO SIGN????

3rd part >>>>> take notice that northern rock requires payment of £......... together with interest thereon from the 22nd july 2010 subject to such adjustment of the principle sum and the amount of interest as may subsequently be determined secured by a standard security granted by you and (my ex partner) in favour of norther rock which standard security was registered in the land registersof scotland under title number........on the 18th jan 2006, and that failing full payment of the said sum and interest thereon subject to any adjustments as aforesaid, and expenses within 2 months after the date of service of this demand, the subjects of the secuirty may be sold.

i ...... above named hereby acknowledge receipt of the foregoing notice of calling up which foregoing is a copy of the notice and i agree to the period of notice being shortened to 1 month. >>>>> IS THIS OK TO SIGN???

Please can someone tell me that all this is ok to sign so that i can begin to file for my own bankruptcy.

x

LISAJTHOMAS

My partner has been working for a small company for 12 years, about 2 years ago he was given 20 % share of the company. THis company is now going bankrupt. Is my partner liable for any debts and as we own a house together are the bankrupcy courts liable to take our assetts of the house into consideraton? I am going out of mind with money

distressedpleasehelp

Details changed

don240

Needing answers please help
I have been advised to go B/R by the CCCS (£47000 of debts including £25000 to N/Rock on a together mortgage). The secured part of the debt is 83000 & the house is worth 80-85000 (less at auction) are they likely to force the sale or will the value make it possible to keep it?

My wife & I have seperated but are in the same house at the moment, She will probably be living somewhere else by the time of the B/R
My wife will also have to go B/R due to the together part of the mortgage (she works part time due to childcare problems) so has little income. Will this affect what happens to the house?

I have a 5 year old car with a retail value of £2950 if I sold it I would get between £1695 & £2315 (£1995 part exchange) I work 23 miles from home & it is impossible to get in by public transport due to my start times (even if I could get in it is three buses with three different bus companys so the cost would be very high) is this enough to keep the car? would I lose it or have to replace it with something cheaper?

Also we have both opened Co Op cashminder accounts I dont think that these will be shut but how long will they be frozen for? as Mine has all the essential bills + my wages going in.