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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

Even though you made the claim for the PPI after your discharge from bankruptcy, I’m afraid the Official Receiver can claim it back because the PPI was connected to a debt that was discharged in your bankruptcy.

If you are not able to pay the money back within the 14 days, you will need to contact the OR and ask if you are able to come to an arrangement to pay back in instalments.
When you contact the OR, explain that you genuinely thought that because you were discharged from bankruptcy, you would be able to use the money towards your everyday living costs as you are on a low income. You could also explain that you have not used the money 'recklessly'.

Whether the OR will agree to this would be at their discretion.

Regards
Sue

ani_26

I've just received a letter from the Court, saying the claimant has possession of my home, which i know,( but i thought its the OR's interest, primarily ), but it also says it is adjudged that the claimant recover against the defendant the sum of £* for debt and interest to date of judgement, ( the full amount outstanding, in total), before my bankruptcy.

That means i've lost my home, but i've still got to pay for it,in full? So should'nt i live in it, in this case? I've got an appointment with the advice agency tomorrow, i rang them straight away.No mention of this was made at the Court hearing, and its taken 3 weeks for this letter to arrive.

I'm really confused. I just don't understand what it going on.

Sorry, i went off on one a bit there. I've calmed down somewhat now. I'm seeking advice tomorrow

Thanks Nohope

poorwifey

on my credit report under the date of sequestrian it states nov 2011 as satisfaction date .what does that mean ?thanks

footprint_2

hello I dont know if im in the right place here but I need some help ?

My boyfriend was declared bankrupt last year (October) and has been asked to pay £270+ a month to moonbeever. The insolvency service dealt with the case. When he was first bankrupt he was just split up from his ex therfore single. Now he is living with me and my 2 children and now has to pay child support to the childrens mum. We have tried to contact moonbeever about reducing payments and they were so unhelpful. Told us they would send a new means assssment form and never did anything about it.

His repayments are killing us what can we do ??

Also how long do these payments last because he is not sure he thinks its until 2012.

Any help or advice on how to deal with this please ??

Thank you

New_Kiwi

Help!
We have got ourselves into a bit of a situation and are 18k in debt to a single debtor. We were paying off the loan without problem but had our house on the market with the intention of emigrating. When the house eventually sold, it went for 50k less than it was advertised at, which meant we had far less than we needed to complete the move and clear our debts. We are now in New Zealand but have the 18k debt still outstanding in the UK. We have some small savings but what we have is only just enough to pay the debt but this will leave us with nothing. We both have jobs but pay in NZ is less than the UK and we have little spare income once rent, utilities, food, insurances, etc are paid. We have been out of the UK for 7 months now (6 months for my wife).

My question is this, what is best for our situation??

Should we try an IVA? (can these be done by non residents)
Should we declare ourselves bankrupt? (what is involved)
Or should we just do nothing, as they have yet to find where we are (we don't intend returning)

Any help and advise would be great......

jimmer950

Hi there,

In the eighties I took out a pension to mature in 2008 when I reach 60. The pension was closed down and paid up in early 1987. Later in December of 1987 my wife and I purchased a pub in Devon and all things were going well until the major/lamont period of crazy goverment interest rates arrived and property prices went down for the first time that I and also many others could remember. Eventually things got so bad that I was made bankrupt.The official from the Offical receivers office was very good and help me through the process and told me at the time that the small pension I had taken out was of no interest to them because of the time scale before it matured. The day arrived in 2008 when the pension policy matured and the forms arrived from abbey life for me to complete to get the pension. On one page a box asked me if I had been made bankrupt to which I ticked the yes box. They later informed me that they would not release the pension until given the green light from the O.R. It has taken over two years before I have finally received a letter from the OR stating that they are keeping the pension under the terms of the 1986 Insolvency act for the benifit of my creditors. This week when I contacted the O.R and told them that this was unfair as I had closed the pension down long before I had bought the pub and therefore was the value was not increased in the six years we had the pub. She said that as I had another pension taken out in 2003 and the value was more than 16K she could offer me the chance to buy back my own pension that is currently valued just over 12k for £5600.00. To say I am angry is putting it midly considering the pub that we owned was valued at £300k in 1990 and was sold by the Building society for 85K in 1993.

I have trawled various webs sites including this one and also viewed the 1986 O.R insolvency act and all that seems to say is about excessive pension payments paid in the period before you go bankrupt. Before I closed it down my monthly pension payments in 1987 were £25.00. I would not call that excessive.

I am sorry that this thread has been a bit long winded but I had to get it off my chest. All I am asking anyone is this ruling right and can I do anything about it.
kind regards

jimmer950

StepChange_Pavan

MUNCHY84 wrote: »

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?

Hi Munchy84,

If he has received independent advice, he must be sure that this is his best option. If he needs any clarification or needs further support, he can get in touch with us to speak to our bankruptcy support team.

Hope this helps.

Kind regards
Pavan

StepChange_Pavan

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?

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?

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

Hi Nekeem,

Philnicandamy have already kindly responded to your question and they are right that you shouldn’t have any problems with putting your money into your husband’s account but you will need to tell your Official Receiver about this. You will be able to open up a basic bank account after your bankruptcy and you can find a list of the ones available here: http://www.moneymadeclear.org.uk/pdfs/bank_accounts.pdf.

Also, there is no need to include your salary for this question, as this is about the cash you have available 'in hand'. If you don’t have any, just leave it blank.

Hope this helps,
Pavan

StepChange_Pavan

Nohope wrote: »

I've just received a letter from the Court, saying the claimant has possession of my home, which i know,( but i thought its the OR's interest, primarily ), but it also says it is adjudged that the claimant recover against the defendant the sum of £* for debt and interest to date of judgement, ( the full amount outstanding, in total), before my bankruptcy.

That means i've lost my home, but i've still got to pay for it,in full? So should'nt i live in it, in this case? I've got an appointment with the advice agency tomorrow, i rang them straight away.No mention of this was made at the Court hearing, and its taken 3 weeks for this letter to arrive.

I'm really confused. I just don't understand what it going on.

Sorry, i went off on one a bit there. I've calmed down somewhat now. I'm seeking advice tomorrow

Thanks Nohope

Hi Nohope and thanks for your message.

I hope you managed to get some helpful advice yesterday. Your situation does sound a little confusing – are you referring to the shortfall that is left? This should be included in the bankruptcy but we would need more information to make sure of this.

If you haven’t spoken to someone already, I’d recommend that you call our free helpline and they will refer you to our specialist bankruptcy team. You can call 0800 138 1111 and lines are open Monday to Friday 08:00-20:00.

Hope this helps.

Pavan.

StepChange_Pavan

footprint wrote: »

hello I dont know if im in the right place here but I need some help ?

My boyfriend was declared bankrupt last year (October) and has been asked to pay £270+ a month to moonbeever. The insolvency service dealt with the case. When he was first bankrupt he was just split up from his ex therfore single. Now he is living with me and my 2 children and now has to pay child support to the childrens mum. We have tried to contact moonbeever about reducing payments and they were so unhelpful. Told us they would send a new means assssment form and never did anything about it.

His repayments are killing us what can we do ??

Also how long do these payments last because he is not sure he thinks its until 2012.

Any help or advice on how to deal with this please ??

Thank you

Hi footprint,

I can see that you have read my reply on the other thread. Glad they’re being more helpful now

Pavan