Ask a CCCS counsellor a bankruptcy question

StepChange_Pavan

18horses wrote: »

Hello, could you please advise me with this query? I live in northern Ireland.

I was involved in a car crash a few months ago. I have recently discovered that I made a small mistake in my insurance application which may lead the company to void it.

Should this happen, I understand they would be obliged to pay any third party personal injury claims under the road traffic act, but could then seek to recover this payment from me.

Were this to happen, and it involved a significant sum which I could not pay, would the monies they try to recover from me be considered eligible debt for bankruptcy?

Hi there,

I’ve already replied to the email you sent us. If you’d like any more detailed advice you can call our helpline on 0800 138 1111 and we have a specialist bankruptcy team that will be able to help.

Kind regards,
Pavan

TeaAndToast_2

Hello and thanks for the read,

I have suffered depression recently and no longer have a job. I'm £2000 in debt on one card, £340 on another, I owe 4 lending agencies £2500 due the end of the month; and I'm also £300 overdrawn on my bank account. I currently rent and own nothing of any significant value. This is making me feel totally worse and the only way out I feel is bankruptcy. Any advice on a way forward?

thanks again

rusty1987

Hi, I contacted CCCS a few weeks ago and received my email pack. I had put on my debt remedy that I owed 2payday loan companies but this is no longer the case (my partner paid one off for me to help me out). My question is how do I inform CCCS of this? Just mention it when sending my details back?
Also, I am waiting for my new bank account to be opened, this could be another few weeks. Is there a timescale from when you receive the email from CCCS to when you hav to hav sen back all your details?

Thanks in advance

Rusty1987

System

Chainless33 wrote: »

I was discharged from my personal bankruptcy just under a year ago. The company I work for is changing structurally soon and I am going to be offered the chance to be a director of the "new" company by the current MD which is fantastic. They are fully aware of my situation and I think as a discharged bankrupt there is nothing stopping me being a director but would my own personal history be to the detriment of the business by affecting its ability to obtain credit etc?????? Basically the company currently has 2 equal shareholders who want to go their separate ways, one to form a new start ltd company and the other to retain the company name and history but form a new board and share structure so this company has an existing trade/credit history. Can anyone advise please? Apologies if this is in the wrong thread......

Hi and welcome to the forum.

You’d need to seek independent advice from a business and company law/credit specialist.

Hope the new venture works out well.

Kind regards,

Mat

System

TeaAndToast wrote: »

Hello and thanks for the read,

I have suffered depression recently and no longer have a job. I'm £2000 in debt on one card, £340 on another, I owe 4 lending agencies £2500 due the end of the month; and I'm also £300 overdrawn on my bank account. I currently rent and own nothing of any significant value. This is making me feel totally worse and the only way out I feel is bankruptcy. Any advice on a way forward?

thanks again

Hi and thanks for your message.

We’ve sent you an answer via the private message you sent to us directly.

I hope this helps.

Kind regards,

Mat

System

rusty1987 wrote: »

Hi, I contacted CCCS a few weeks ago and received my email pack. I had put on my debt remedy that I owed 2payday loan companies but this is no longer the case (my partner paid one off for me to help me out). My question is how do I inform CCCS of this? Just mention it when sending my details back?
Also, I am waiting for my new bank account to be opened, this could be another few weeks. Is there a timescale from when you receive the email from CCCS to when you hav to hav sen back all your details?

Thanks in advance

Rusty1987

Hi and thanks for your message.

Inside your Debt Remedy pack will be a direct number to contact the department that is dealing with you.

I’d recommend giving them a call as soon as you can so we can update our records.

There is no strict timetable but the quicker we get things mover the better it is for you, if you’re concerned give us a call.

I hope this helps.

Kind regards,

Mat

PJ82

Hi, not sure if this is the right place for this question but I'll ask just in case!

I defaulted on a post-grad loan, taken out with with HSBC, in 2005.
It went to MCS ltd collectors ,a brance of HSBC I believe, where I did not miss a payment and finally paid this debt off in full in January of 2011. I am now debt free.

I am now looking to buy a house and have a 10% deposit saved.

However, I have been told only two lenders will deal with me because of this default. These lenders want a 20% or 25% deposit which is a bit of a tall order.

I heard mentioned that some companies can take the default of your credit record. Is this true?

Is there any other options for securing a mortgage with adverse credit and I guess what is a relatively small deposit.

Thanks in advance!

Phil.

harrineedshelp

im about 30k in debt im on benefits is, dla, ib, child tax credi,t cb i also get maintenance amd a small works pension. my income totals about £1500 i also get hb and ctb after everything is taken out i have 300 disposable income left.

i spoke to a cccs councellor tonight who said id have to pay 300 into my bankrupcy a month for three years and no allowance would be made that im on dla as this is now counted due to a change in rules due to the recession. is this right he then advised an iva would be better but ive just been told that i wont get an iva on benrfits

can you please shead some light

StepChange_Pavan

PJ82 wrote: »

Hi, not sure if this is the right place for this question but I'll ask just in case!

I defaulted on a post-grad loan, taken out with with HSBC, in 2005.
It went to MCS ltd collectors ,a brance of HSBC I believe, where I did not miss a payment and finally paid this debt off in full in January of 2011. I am now debt free.

I am now looking to buy a house and have a 10% deposit saved.

However, I have been told only two lenders will deal with me because of this default. These lenders want a 20% or 25% deposit which is a bit of a tall order.

I heard mentioned that some companies can take the default of your credit record. Is this true?

Is there any other options for securing a mortgage with adverse credit and I guess what is a relatively small deposit.

Thanks in advance!

Phil.

Hi Phil and thanks for your post.

Unfortunately, you can’t have the default removed but you can have a note added to your file to say that the debt has been repaid in full. This booklet explains how to do this and you can do it yourself – rather than paying a company a fee to do it for you: http://www.ico.gov.uk/upload/documents/library/data_protection/practical_application/credit_explained_leaflet_2005.pdf

We can’t advise on how to secure a mortgage with a small deposit and adverse credit history but I’d certainly recommend that you go to a broker that’s independent and looks at the whole of the market.

Kind regards,
Pavan

StepChange_Pavan

harrineedshelp wrote: »

im about 30k in debt im on benefits is, dla, ib, child tax credi,t cb i also get maintenance amd a small works pension. my income totals about £1500 i also get hb and ctb after everything is taken out i have 300 disposable income left.

i spoke to a cccs councellor tonight who said id have to pay 300 into my bankrupcy a month for three years and no allowance would be made that im on dla as this is now counted due to a change in rules due to the recession. is this right he then advised an iva would be better but ive just been told that i wont get an iva on benrfits

can you please shead some light

Hi harrineedshelp and thanks for your post.

It’s really difficult to say what your options are without looking at your budget in more detail. If you send me your client reference number, (either in a private message or in an email to [EMAIL="contactus@cccs.co.uk"]contactus@cccs.co.uk[/EMAIL]) I can look at your information and explain what solutions are available to you and why.

Kind regards,
Pavan