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Ask a CCCS counsellor a bankruptcy question
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can someone please give me some advise, i have took out 3 payday to help me get out of aproblum i was having since taking out the the loans less than a month ago my hour have been cut at work, so im down to a flat 60.00 a week wage
payday express 300
wonga 120
payday uk 150
im in such a mess i dont know were to turn, i hate phoning these people what can i do my credit record which i worked to get clean is now in total reuins.
im a shamed of myself:eek::eek::eek:0 -
imasmartie22 wrote: »can someone please give me some advise, i have took out 3 payday to help me get out of aproblum i was having since taking out the the loans less than a month ago my hour have been cut at work, so im down to a flat 60.00 a week wage
payday express 300
wonga 120
payday uk 150
im in such a mess i dont know were to turn, i hate phoning these people what can i do my credit record which i worked to get clean is now in total reuins.
im a shamed of myself:eek::eek::eek:
Hi and thanks for your post.
The most important thing at the moment is that you have enough money to live on and pay your priority bills.
I’d recommend opening a new basic bank account (without an overdraft) and having your wages/benefits paid into this new bank account that the Payday lenders do not have access to.
For more advice you should call us as soon as you can on our free helpline on 0800 138 1111. We’re open Monday to Friday 8am - 8pm and Saturday 9am until 3.00pm.
I hope this helps.
Kind regards,
MatThis is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
Hi, i really need to know what effect it will have on me if my husband goes BR. He lost his house in 2010, we were seperated then. The mortgage was in his name but i had a registered interest. The house was sold for half of what it was worth and there is a £120,000 shortfall!! He hasn't had any contact since the court hearing. We want to sort this out but i am worried how it will affect my credit file. I have had problems in the past but i've worked hard to keep upto date with payments over the last 5 years and next year i should have a clean file. We don't have a joint bank account or anything but he is showing on my credit file as an associate. Will him going BR ruin my file? Also if we contact the mortgage company and explain that he has no saving, assets etc and he will never be able to pay the money, do you think they will bother chasing him for the shortfall if we explain he would have to go BR, but has no assets to sell, so they still wouldn't get anything. I would like to get a mortage sometime after my CR file is clear. Will he not be able to go on it till 6 years after the BR?
Hope someone can help.0 -
Can I go bankrupt but not my husband?
I have debt of £40,000 in my name, we have £11,388 jointly. I realise the joint debt will fall to my husband but the majority of the debt will stay with me. We have a house it has no equity in it and is solely in my husband's name.
We are currently on a DMP with CCCS as I had cancer last year but now I have found out that it has returned and my husband is probably going to have to give up work to look after me and the kids. We have had some advice about joint bankruptcy but given the situation I really don't want to lose the house as I don't want to be moving whilst really ill and if anything happens to me it will be there for the kids.
Any help greatly appreciated.0 -
hi i would like to ask that bankruptcy is only for english citizens or any member from eu can do it? thank you0
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hi i would like to ask that bankruptcy is only for english citizens or any member from eu can do it? thank you
Good read here
http://www.bis.gov.uk/insolvency/personal-insolvency/bankruptcy-what-is-bankruptcy/make-myself-bankrupt-abroadFriends help you move. Real friends help you move bodies.0 -
My ex and I own a property together and he wants to go bankrupt. He says that if he does I will have to sell the house. I live in the house, he doesn't. I have tried to get a mortgage in my own name but have not been successful and because of this I have a trust deed in place which gives me 100% of the equity. Will his bankruptcy still affect me?0
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Can anyone help with my question above?0
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You can file a notice of dissasosiation with the CRA as long as you did not have any joint debts. This way your Credit file should not be affected.
You can contact the mortgage company and give them an income and expenditure to reflect your situation and if possible offer them a monthly payment.
In my experience they are unlikely to write the debt off.
If your HB goes BR his credit file will be affected for 6years from the date of the bankruptcy order0 -
Hi, i really need to know what effect it will have on me if my husband goes BR. He lost his house in 2010, we were seperated then. The mortgage was in his name but i had a registered interest. The house was sold for half of what it was worth and there is a £120,000 shortfall!! He hasn't had any contact since the court hearing. We want to sort this out but i am worried how it will affect my credit file. I have had problems in the past but i've worked hard to keep upto date with payments over the last 5 years and next year i should have a clean file. We don't have a joint bank account or anything but he is showing on my credit file as an associate. Will him going BR ruin my file? Also if we contact the mortgage company and explain that he has no saving, assets etc and he will never be able to pay the money, do you think they will bother chasing him for the shortfall if we explain he would have to go BR, but has no assets to sell, so they still wouldn't get anything. I would like to get a mortage sometime after my CR file is clear. Will he not be able to go on it till 6 years after the BR?
Hope someone can help.
Hi Sammie28 and thanks for your message.
I can see you have had some good advice already.
As long as you don’t have any joint debts a notice of disassociation sent to all three credit reference agencies should mean that you are not affected by your partner’s bankruptcy.
I’d recommend your partner calls us for some free bankruptcy advice; we have a dedicated team that can explain the process. It’s unlikely that the creditors will stop chasing him for the debt or write it off. If he goes bankrupt the debt will be included in the bankruptcy and this could be the best way to deal with it.
Bankruptcy will be listed on your partners credit file for six years. Some mortgage providers do ask if you have ever been bankrupt when you make an application.
Your partner is welcome to call our free Helpline on 0800 138 1111. We’re open Monday to Friday 8am - 8pm and Saturday 9am until 3.00pm.
This booklet might help also, have a look on page 10. http://www.ico.gov.uk/upload/documents/library/data_protection/practical_application/credit_explained_leaflet_2005.pdf
I hope this helps.
Kind regards,
MatThis is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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