Ask a CCCS counsellor a bankruptcy question

CatCollins

Hi Cat and thank you for your message

As Fermi has kindly pointed out, you could ask for legal help and advice regarding this. You could also contact the Official Receiver who is dealing with the bankruptcy.

Community Legal Advice give free confidential legal help and they may be able to assist you further

Regards
Sue

Re: The Above.......

Thankyou.

toxtethscouser

Hello, Im currently going down the bankruptcy route. quick question about my car. I recently had to hand my old hp car back as it was becoming too unreliable. I do a round trip of 140 miles to work daily with unsociable hours (leaving for work at 3am!) so needed something reliable. With having my house re-possessed a year ago I was unable to get credit for a new car so my gf agreed to joint lease a new car, with me making the payments into her account to pay the leasing contract. Ive no assets to buy a car outright (bare in mind these payments are still cheaper than the payments I was making on the previous 8 year old car I handed back so i wasnt being silly increasing the amount I pay for a car each month) Will this be ok? I can provide proof that these payments are actually going to her account and paying for the car. Will that be ok?

Thanks for your help

Ian

CCCS_Sue

Maxx8uk wrote: »

Thank you for your help Sue and Tigerfeet.

I will try sending an edited form of Tiger's form letter but i'm not holding out much hope as I wrote to Santander's Data Controller back in April to try to get them to correct their information. It shows that I have gone through Bankruptcy on their system but they still class the account in arrears rather than settled or partially settled. I sent him a copy of the bankruptcy order and the discharge notice.

I just spoke to the collections department (the number on the Arrears notice). They say that the notices Have to be sent to me due to what they call a new law as stated within the notice of arrears. The notice of arrears says it's being sent in compliance with the Consumer Credit act 1974 so it hardly seems new.

They made a point of saying the notice of arrears is a statement not a collection notice. Can they hide behind this ???
They just seem to be using the notice as a form of harassment they couldn't even tell me if or when the letters will stop so as the account will never be out of arrears they could come forever.

They said they can't stop it and that if i wanted to complain i need to call santanders normal customer service line.


I will give them a call to lodge a formal complaint later this week.

After that I will have to try Trading standards or the OFT.

Sue will trading Standards or the OFT be able to help seeing as it's statement of arrears rather the a collection notice ?


Once again thank you both for your help.

Whether it is a statement or collection notice, they are continuing to harass you, and I would recommend you try contacting the OFT.

I have attached a link to the OFT Debt Collection Guidelines (2.6 h)
http://www.oft.gov.uk/shared_oft/business_leaflets/consumer_credit/oft664.pdf

Regards
Sue

CCCS_Sue

toxtethscouser wrote: »

Hello, Im currently going down the bankruptcy route. quick question about my car. I recently had to hand my old hp car back as it was becoming too unreliable. I do a round trip of 140 miles to work daily with unsociable hours (leaving for work at 3am!) so needed something reliable. With having my house re-possessed a year ago I was unable to get credit for a new car so my gf agreed to joint lease a new car, with me making the payments into her account to pay the leasing contract. Ive no assets to buy a car outright (bare in mind these payments are still cheaper than the payments I was making on the previous 8 year old car I handed back so i wasnt being silly increasing the amount I pay for a car each month) Will this be ok? I can provide proof that these payments are actually going to her account and paying for the car. Will that be ok?

Thanks for your help

Ian

Hi Ian

This would ultimately be at the discretion of the Official Receiver (OR) who is dealing with your bankruptcy
Each OR looks at individual circumstances and makes a decision based on what they believe is fair.

I have attached a link to this website which has some information regarding vehicles in bankruptcy you may find useful.

https://forums.moneysavingexpert.com/discussion/1056247

Regards
Sue

in-hindsight

I closed my business as a sole trader in Feb 2008 and moved on to pastures new. The business had a loan with LTSB and im still left paying that off. I could cope with the repayments up until now (work have asked us all to take pay cuts).

Ive contacted my old business manager and he is not one bit interested in reworking the loan so its a little more realistic to pay back. They have pretty much shut the door on me.

What are my options (bankruptcy, liquidation, others?)?

I have a done a credit expert search and this loan does not even appear on it. Would my existing credit rating be damaged if i went down one of the routes above?

Any help would be great,

Many thanks

amonag68

Hello,

I wonder if you can help me?

I was awarded a ppi refund after I was discharged from bankruptcy. I also did the claim after I was discharged. I only received the 8% statutory interest and the ppi refund of £2300 went to the debt collection agency First Credit. I thought i was entitled to the money so challenged it. To cut a long story short the OR have got involved, they want First Credit to send the money to them and they have also asked me to send them the £900 odd pounds I received. Can they ask for this as this is 8% simple interest and a compensation payment. I sort of understand about the PPI premium refund as they are saying that forms an asset?? But surely not the 8% compensation.

If I do have to give it back will they give me more time to pay rather than the 14 days. I dont have it you see as I have used that to live on due to low income.

Your help and advice would be greatly appreciated.

Thanks

Andy

CCCS_Sue

in-hindsight wrote: »

I closed my business as a sole trader in Feb 2008 and moved on to pastures new. The business had a loan with LTSB and im still left paying that off. I could cope with the repayments up until now (work have asked us all to take pay cuts).

Ive contacted my old business manager and he is not one bit interested in reworking the loan so its a little more realistic to pay back. They have pretty much shut the door on me.

What are my options (bankruptcy, liquidation, others?)?

I have a done a credit expert search and this loan does not even appear on it. Would my existing credit rating be damaged if i went down one of the routes above?

Any help would be great,

Many thanks

Hi in-hindsight and thank you for your message

There are three credit reference agencies, so if you have only checked one, you may need to check the other two to see if your creditor has used one of the others.

The three credit reference agencies are Equifax, Experian and Callcredit.
I have attached a link to a booklet which gives the addresses of all three and also explains more about your credit file.
http://www.ico.gov.uk/upload/documents/library/data_protection/practical_application/credit_explained_leaflet_2005.pdf

As the above booklet explains, bankruptcy would remain on your credit file for six years

Making yourself bankrupt is a big step to take and requires expert advice. If you would like to look at all your options, you can use our online debt counselling service, which will provide you with the most appropriate solution to your debt problem. Alternatively contact our free Helpline on 0800 138 1111.
If bankruptcy is an option for you and you decide to go ahead, we can also offer you extra support through our bankruptcy support team. They can answer any questions you have about bankruptcy.

Regards
Sue

MUNCHY84

re: post on 23/9

Hi,

Sorry for the delay in responding back.

We have no joint credit, so I am at ease that this will not affect my credit rating now. My partner actually works for a company that assist others with DMP's, bankruptcy and IVA's, and will help him through this, this is really for me to understand it all, as I havent the first clue about what we should be doing and when, my head is spinning?! There is no equity in the property, he has an o/s mortgage of £80k and a secured loan of £20k, and the property is worth around £75k plus he has at least 4 charging orders registered over it now. We really do not see any alternative, having tried to get back on top for at least 2 years?

philnicandamy

neekeem wrote: »

Hi there

I've been through my finances and went to the CAB who explained the options to me and I have decided to go bankrupt. I have approx £600 a month surplus and nearly £40k of loan/credit card debt. My financial situation has no reason to improve and as I do hope to have children reasonably soon, I can only see it worsening. At their advice I have stopped all my unsecured credit payments. I do not have assets.

I am married but my husband and I have no shared bank accounts or debts. To that end, I was thinking the easiest option for my salary payments would be to go to his account. Is this acceptable? should be fine people here have done in the past & had no issues..

Another question - when filling out the BR forms, it asks about cash you have on hand. Obviously at the beginning of the month when I file I'll have the cash from getting paid, but the majority of it is 'spoken for' - my half of rent, utilities, travel, food. Do you give the actual amount of money you have or the amount of anticipated surplus? the cash in hand question is really aimed at business etc so no need to list your salary leave it blank

I'm sure I'll have more questions but that will get me started!

Hope that helps

CCCS_Sue

amonag68 wrote: »

Hello,

I wonder if you can help me?

I was awarded a ppi refund after I was discharged from bankruptcy. I also did the claim after I was discharged. I only received the 8% statutory interest and the ppi refund of £2300 went to the debt collection agency First Credit. I thought i was entitled to the money so challenged it. To cut a long story short the OR have got involved, they want First Credit to send the money to them and they have also asked me to send them the £900 odd pounds I received. Can they ask for this as this is 8% simple interest and a compensation payment. I sort of understand about the PPI premium refund as they are saying that forms an asset?? But surely not the 8% compensation.

If I do have to give it back will they give me more time to pay rather than the 14 days. I dont have it you see as I have used that to live on due to low income.

Your help and advice would be greatly appreciated.

Thanks

Andy

Hi Andy

Looking into this for you. Can you just let me know if you have an Income Payment Arrangement (IPA) in place?

Regards
Sue