Ask a CCCS counsellor a bankruptcy question

philnicandamy

Guestimates will be ok.....the official receiver can easily source statments etc (put down where the debt 1st came from)...wouldnt tell your creditors about your upcoming bankruptcy really..all that will do is increase the letters & phonecalls if anybody calls in the meanwhile tell them your talking to cccs/national debtline & you'll be in touch.....you should speak to cccs/national debtline etc before you decide on bankruptcy..they can give you a little more advice (and besides on the day in court the judge if you see one will ask if you have spoken to anyone for professional advice)

randomstu

philnicandamy wrote: »

Guestimates will be ok.....the official receiver can easily source statments etc (put down where the debt 1st came from)...wouldnt tell your creditors about your upcoming bankruptcy really..all that will do is increase the letters & phonecalls if anybody calls in the meanwhile tell them your talking to cccs/national debtline & you'll be in touch.....you should speak to cccs/national debtline etc before you decide on bankruptcy..they can give you a little more advice (and besides on the day in court the judge if you see one will ask if you have spoken to anyone for professional advice)

Many Thanks for your quick response Philcandamy

Another quick question

I have a pre-pay mastercard with only a few pounds at most on it, will i need to declare this and will it be cancelled even though there is no credit or debt involved and has no real value?

Many Thanks

Randomstu

lornio

went to court today to go br but co -op pulled out last min, this has ruined our plans of going br and appearing in court on thursday for our repo hearing and seeing if we can come to some arangement with northern rock to move back into our home. can anyone advise us on what to do on thursday? i have been calling cccs all day but cant get through and need to know if im just waisting my time thinking we may be able to go home? wish we had never left and all the advise we have been told was no good now we still owe money we are not br and may loose our home when we could of kept it!!! god help us.

bizarebazaar

Welfare Rights now called Community Law Service, ran like CAB, but far better. They done a brilliant job for me and took the stress out of the dreadful situation I was in. There should be one local to you, if you cant through due to busy, call in, the receptionist wont like it but it's ok.........good luck

mustbedebtfree

Hi

I live in Scotland, and after seeking advice it looks like bankruptcy is the solution for me (after years of denying the issue). With approx £32k worth of debt split between loans and credit cards and HP's

I have a couple of questions (which I can't seem to find the answers too)

While I am waiting to be made "officially" BR should I still be trying to pay my creditors, even if only some of them? Or will this reflect bad on me as i will be seen to be favouring some creditors more than others?

Also how do I go about getting creditor concurrence? Do i just call them up and say "I can't pay you any more and I'm applying for BR can you please sign my form?"

Sorry if these sound like silly questions but my head is buzzing with everything thats going on and I think i am finally understanding how it all works

Thanks for any help!!
Mustbedebtfree

CCCS_Matthew

rry438 wrote: »

Does anyone know what this means ?

'The interim hearing be vacated ' ( At the County Court ) I am doing battle with a big financial outfit for a relatively small sum . I have legal advice in place but these letters always arrive on a Saturday which gives me the whole weekend to stew. Just tell me if its good news or bad ,but from past experience a creditor would not be spreading good news .

Hi there,

Can you give me a little more detail of the context of the letter? What is it that they are writing to you about? Are you making a claim against the financial outfit or are they trying to make a claim against you?

Matthew.

CCCS_Matthew

randomstu wrote: »

Hi There,

Am in need of some advice.

Have used the CCCS online tool...recommended bankruptcy, having weighed up the pro's and con's, seems like the best choice.

My problem is that i dont have all the statements and credit agreements. I suspect some of my creditors have the wrong address listed for me, despite my attempts to change this, so havent been receieving statements.

I have all the account numbers and contact addresses for my debtors and only approximate values for the actual debts, will this be sufficient? Or will i need to contact my creditors in order to get statements.

If I do need to contact them, what would my best approach be? To tell them i am going bankrupt? Also, I have been receieving letters from Debt Collection agencies, should I use these on the the petition, or stick with the original creditor.



Many Thanks in advance

Randomstu

Hi Stu,

It's not essential that you have exact balances if you were to petition for your bankruptcy, although it does help to get as close as possible.

It might be worth sourcing a copy of your credit file which should give you an idea of what you owe which will ensure your figures are more realistic. By getting a copy of your credit file you wouldn't have to get in contact directly with your creditors, so it's a fairly straight forward process.

You can get your credit file from any of the following organisations:
www.experian.co.uk
www.equifax.co.uk
www.callcredit.co.uk

Regards,
Matthew.

CCCS_Matthew

randomstu wrote: »

Many Thanks for your quick response Philcandamy

Another quick question

I have a pre-pay mastercard with only a few pounds at most on it, will i need to declare this and will it be cancelled even though there is no credit or debt involved and has no real value?

Many Thanks

Randomstu

Hi again.

I would say you need to declare the card even though there isn't any credit facility. Generally during bankruptcy you are not allowed to take out credit over the value of £500. As the card is pre-paid the OR may allow you to keep it, although you may need to check with the card distributor to see whether they will allow you to still have the account as an undischarged bankrupt.

Hope this helps,
Matthew.

CCCS_Matthew

lornio wrote: »

went to court today to go br but co -op pulled out last min, this has ruined our plans of going br and appearing in court on thursday for our repo hearing and seeing if we can come to some arangement with northern rock to move back into our home. can anyone advise us on what to do on thursday? i have been calling cccs all day but cant get through and need to know if im just waisting my time thinking we may be able to go home? wish we had never left and all the advise we have been told was no good now we still owe money we are not br and may loose our home when we could of kept it!!! god help us.

Hi Lornio.

When you say Co-op pulled out, I'm assuming that they were petitioning to make you bankrupt, and decided for whatever reason to go against it? Did they give a reason to say why they've pulled out? Do you have equity in your property?

As far as the repossession hearing is concerned, how much do you owe Northern Rock in arrears? Do you think you are in a position to make an offer on top of your normal monthly payments? If so there is certainly a chance the judge will allow a Suspended Possession Order which means providing you keep up with the agreement you can stay in the house.

You will obviously still the unsecured debts as a result of Co-op not making you bankrupt, but you could still look at your options in order to deal with these long term. If you have no equity in the property you could always look at saving the fee to go bankrupt yourself (you wouldn't have to do this straight away) or look at offering your surplus income that you have after you've covered all of your priorities.

Matthew.

CCCS_Matthew

mustbedebtfree wrote: »

Hi

I live in Scotland, and after seeking advice it looks like bankruptcy is the solution for me (after years of denying the issue). With approx £32k worth of debt split between loans and credit cards and HP's

I have a couple of questions (which I can't seem to find the answers too)

While I am waiting to be made "officially" BR should I still be trying to pay my creditors, even if only some of them? Or will this reflect bad on me as i will be seen to be favouring some creditors more than others?

Also how do I go about getting creditor concurrence? Do i just call them up and say "I can't pay you any more and I'm applying for BR can you please sign my form?"

Sorry if these sound like silly questions but my head is buzzing with everything thats going on and I think i am finally understanding how it all works

Thanks for any help!!
Mustbedebtfree

Hi there.

Whilst waiting to go bankrupt, we would normally advise to offer payments of £1 to each creditor if it helps give you a bit of breathing space up until your bankruptcy. It's definitely better to offer payments to all creditors rather than just some as it does help avoid you showing preferential treatment.

As far as the actual process is concerned, I'll chase this up with one of my Scottish colleagues as the bankruptcy process is very different in Scotland compared to England. Once I've established an answer for you I'll send you a PM.

Regards,
Matthew.