Ask a CCCS counsellor a bankruptcy question

System

shaineicus wrote: »

Hi, Please can someone answer some questions regarding bankruptcy as a chancer ( who previously lost a case against my partner and I in court ) has issued stat demands through a DCA. We attended hearing to set aside and judge has adjourned for him to present more evidence.... he has none. Question is I made a halfway offer to be done with this, we dispute the debt, he cannot accept due to no win no fee. seems he has been ill advised to pursue bankruptcy against us and now faces costs if set its set aside.
If it is not set aside and a petition for bankruptcy is presented to court, will it be halted if i bring debt below £750 before court date? In this scenario would he get his £700ish back that was paid to present the petition? If I reduce alledged to below £750 I understand that will stop the stat demand from proceeding but what happens next?

It is in both our interests to get this set aside now and im starting to wonder if its best to just wait and see if they file a petition??

sorry its long but head is spinning with this...

any help greatly appreciated... thanks

Hi and thanks for your post.

We’d need a little more detail about your full situation and the debt itself before we could give accurate advice. I’d recommend that you give us a call; we have a dedicated bankruptcy team that should be able to help you deal with this.

You’re welcome to ring our free Helpline on 0800 138 1111. We’re open Monday to Friday 8am - 8pm and Saturday 9am until 3.00pm.

If you phone us it may be possible to refer you directly to a counsellor for immediate advice. Alternatively, we will arrange for an appointment to be booked at a time convenient for you.

I hope this helps.

Kind regards,

Mat

gyruss

Hello,

I have 17k of debt with 1 bank loan and 2 credit cards.

Ive been keeping my creditors at bay the past few months with token payments, but the stress and worry of my debts is starting to take its toll.

Im not working at the moment and I'm not claiming any benefits. All my debts are in my name. I have no money or assets save my laptop, my bike, clothes and a couple of boxes of belongings.

As I said, my wife works but doesn't have a great deal of money left after bills but I know she has savings. She is claiming tax credits etc for our baby son. She owns a car.

Im at a loss at what to do and I am considering BR but would my wife and her assets/benefits be safe? Do I have any other options?

Thanks in advance.

System

gyruss wrote: »

Hello,

I have 17k of debt with 1 bank loan and 2 credit cards.

Ive been keeping my creditors at bay the past few months with token payments, but the stress and worry of my debts is starting to take its toll.

Im not working at the moment and I'm not claiming any benefits. All my debts are in my name. I have no money or assets save my laptop, my bike, clothes and a couple of boxes of belongings.

As I said, my wife works but doesn't have a great deal of money left after bills but I know she has savings. She is claiming tax credits etc for our baby son. She owns a car.

Im at a loss at what to do and I am considering BR but would my wife and her assets/benefits be safe? Do I have any other options?

Thanks in advance.

Hi Gyruss and welcome to the forum

It sounds like you would benefit from some free and impartial advice.

Based on the information you’ve given here I’d say that your wife won’t be affected by your bankruptcy and that bankruptcy could be the best solution for you.

We’d need a few more details but our dedicated bankruptcy team could talk you through all your options and guide you through the process free of charge. We’d also refer you to our Welfare Benefits team so that you could see what benefits you’re currently entitled to.

Bankruptcy has a fee of £175 payable to the court, and an additional fee of £525 is payable to the Official Receiver. The fees could be reduced if you are in receipt of certain benefits.

Our free Helpline is on 0800 138 1111. We’re open Monday to Friday 8am - 8pm and Saturday 9am until 3.00pm.

If you phone us it may be possible to refer you directly to a counsellor for immediate advice. Alternatively, we will arrange for an appointment to be booked at a time convenient for you.

I hope this helps,

Kind regards,

Mat

Piggywinkle

I currently owe £18k to 5 creditors (4 CC and 1 loan). I have been making token payments of £1.00 to them each month (on the advice of the CCCS) but I am now being hassled on a daily basis by DCAs by mail and telephone.

After speaking to CCCS yesterday and informing them that my current situation wasn't going to change (I can't make enough to pay for childcare and my debts if I went back to work), they advised me that bankruptcy would be my best option. They are sending me out some advice in the mail. In the meantime, they advised me that I may be exempt from paying the court fees for bankruptcy and to look at form EX160.

I have done so and I am not in receipt of any of the benefits listed (only Housing Benefit, Council Tax Benefit and Child Benefit). I am filing for bankruptcy for myself but I am married. My husband is basically paying for everything at the moment and we are just about breaking even every month after making the token payments on top of everything else we have to pay.

The question I have is this (yes, I'm getting there!) - when I take a look at the EX160 form, it seems to ask me to apply as part of a couple. I don't want to include my partner in my bankruptcy claim so do I have to put his details on there? Looking at the guidance, I would need to apply for the court fee exemption on remission, i.e. that I don't have enough disposable income to pay.

So in short, do I have to put in my husband's income on the form as well?

Chops2012

Hi

I have got myself in a big mess and done the Debt Remedy on the CCCS site.

It shows I have more going out that coming in and am in a dire situation.

This of course I was aware of, and it has highlighted with 60k of unsecured debt my best route is probably an IVA as I do have income to make a lower monthly payment but not enough for it to be just over a short time, as I will never be able to clear the debt.

I understand that Bankcruptcy will prevent me continuing being a Company Director of my business, but does an IVA do the same?

My business is paying its bills etc and is not in the same financial situation as I am personally.

Can you please advise?

System

Piggywinkle wrote: »

I currently owe £18k to 5 creditors (4 CC and 1 loan). I have been making token payments of £1.00 to them each month (on the advice of the CCCS) but I am now being hassled on a daily basis by DCAs by mail and telephone.

After speaking to CCCS yesterday and informing them that my current situation wasn't going to change (I can't make enough to pay for childcare and my debts if I went back to work), they advised me that bankruptcy would be my best option. They are sending me out some advice in the mail. In the meantime, they advised me that I may be exempt from paying the court fees for bankruptcy and to look at form EX160.

I have done so and I am not in receipt of any of the benefits listed (only Housing Benefit, Council Tax Benefit and Child Benefit). I am filing for bankruptcy for myself but I am married. My husband is basically paying for everything at the moment and we are just about breaking even every month after making the token payments on top of everything else we have to pay.

The question I have is this (yes, I'm getting there!) - when I take a look at the EX160 form, it seems to ask me to apply as part of a couple. I don't want to include my partner in my bankruptcy claim so do I have to put his details on there? Looking at the guidance, I would need to apply for the court fee exemption on remission, i.e. that I don't have enough disposable income to pay.

So in short, do I have to put in my husband's income on the form as well?

Hi Pingywinkle and thanks for your post.

You don’t have to put any of your partner’s details on the form.

If you have any questions after you have received the pack from us you can give our dedicated bankruptcy team a call. They can assist you right down to filling in the forms.

I hope this helps.

Kind regards,

Mat

System

Chops2012 wrote: »

Hi

I have got myself in a big mess and done the Debt Remedy on the CCCS site.

It shows I have more going out that coming in and am in a dire situation.

This of course I was aware of, and it has highlighted with 60k of unsecured debt my best route is probably an IVA as I do have income to make a lower monthly payment but not enough for it to be just over a short time, as I will never be able to clear the debt.

I understand that Bankcruptcy will prevent me continuing being a Company Director of my business, but does an IVA do the same?

My business is paying its bills etc and is not in the same financial situation as I am personally.

Can you please advise?

Hi Chops2012 and welcome to the forum

You can be a company director and be subject to an IVA.

As you’ve already done Debt Remedy I’d recommend that you get in touch.

I hope this helps.

Kind regards,

Mat

Marcus43

Firstly thank you to all of the posters who have ever replied to any one on here. You are life savers I am sure. Indeed forums like this, helping your fellow man, lift the spirit just by existing.

After many, many years I am at the stage, finally, of my income covering my basic out goings. However I have old County Court Judgements, mostly over 6 years old that have "disappeared" from court judgement registry at the trustonline website a couple that will be gone in a year and one more in 3 years. I moved so they were all issued after I had moved (and I think the last one was actually filed after it would have been statute barred). They would all total something like £40,000.

I am very lucky that I am not being chased by any one any more, at least right now, but I am at the point where I would like to start to get my life back again. What I want more than any thing is to be able to buy a modest home again one day.

My questions is this, should I go bankrupt because they will all come back to haunt me in the future or should I do nothing and hope for the best/deal with them on a case by case basis, on token payment plans, if they do ?

If I do the later my credit file (I think) will be clean in 3 more years and as I have not gone bankrupt I guess I would be able to get a mortgage. If I do go bankrupt, from my online searches, it looks like I might be able to get a mortgage theoretically from a niche company after 4 years (if I am discharged after 1 year and finish payment restrictions after another 3 years).

I don't know what to do. Any advice from anyone who has gone down, has experience of, either route would be greatly appreciated.

becca_99

Hi, I was made bankrupt in 2008 and was discharged 6 months later. I have been helping out at my daughters gym club, they have asked me if I want to be on the committee as a trustee, can someone let me know I can or not, thanks

Hami22

My husband and I were both made bankrupt in November 2009 and discharged in July 2010. We have been renting since December 2009 and paying approx £2000 rent up until now. We would like to look at buying our own place again but unfortunately do not have a deposit. Are there are companies around with products that might suit us?