Ask a CCCS counsellor a bankruptcy question

CCCS_Alan

miss_spooky wrote: »

Hi,

I am writing on behalf of a friend. She completed the CCCS Debt Remedy & spoke to someone via chat yesterday. The advise was to do a low start DMP. Her suplurs was only £78.00. Would BR not be a better idea with a surplus this low? She has tried making token payments to her creditors but they keep harassing her as she's paid 4 weekly and she can not pay on days they request, so some debts are incurring charges every mth etc.

Hi Miss Spooky

Other factors may make bankruptcy an option that the she can’t look at, such as her job role, equity, HP, assets change in circumstances soon etc. She could possibly not want to go bankrupt as it could have been an option possibly.

It would be best for her to go back online and ask regards why bankruptcy has not been advised as they would be able to look at her full details and advise.

Regards

CCCS_Alan

miss_spooky

CCCS_Alan wrote: »

Hi Miss Spooky

Other factors may make bankruptcy an option that the she can’t look at, such as her job role, equity, HP, assets change in circumstances soon etc. She could possibly not want to go bankrupt as it could have been an option possibly.

It would be best for her to go back online and ask regards why bankruptcy has not been advised as they would be able to look at her full details and advise.

Regards

CCCS_Alan

I'll tell to to get back in touch then. I know she has no HP, Equity (Housing Assoc) assets. Many thanks.

psp1234

Hi,

My husband and I are both applying for bankruptcy - we live in Scotland. We are confused completing the application form.

Do we half outgoings like council tax, insurances and council tax (is in arrears)?

Also we receive tax credits in both our names...

Or do we repeat the full amounts on both our forms?

Also, when the form is complete, do we only send it to the AIB or do we have to take it to the court also?

Thanks in advance

Esoog

Greetings,

My girlfriends (soon to be ex!) useless husband is thinking of applying for bankruptcy, they have a joint account that has a balance of £-3000 - . My girlfriend is currently paying all the interest charges etc for it because the lazy chimp won't get a job and won't give up any of his dole money because he needs it for fags/booze.. If he goes bankrupt will this account become her problem totally?

Also, they have a joint mortgage, he doesn't live there and hasn't contributed to the mortgage for over six months, what happens to the mortgage? Its in negative equitity (I think thats the right term? The mortgage is more than the house is worth now)

philnicandamy

Fraid so...any joint debt it will fall to the person NOT going bankrupt..

josie836

I am considering bankruptcy after being on a DMP for the last two years. The debts were built up over a number of years whilst I was a partner in a business. My income was erratic and I used the cc's for evryday expenses although I cannot give any specifics. I was hoping that the sale of the business, advertised for 3 years with no reasonable offer, would enable me to clear all my debts. If i put this in my reasons for bankruptcy is the OR likely to want details of the business even though it was closed in June 2007? The business was closed with no debts thanks to a repayment of bank charges of nearly 10k but there was no money left over.

dave_dog

tordoff wrote: »

Thank you so much for your quick reply. I have not as yet received the Co-Ops' closure letter but would Barclays not decline me as I got chcucked out of Co Op? Also one of the people I owed a lot to was Barclays with the iva - does this still reject me?

Hey im in the same boat.

If i owe Barclays and nat west but not Lloyds Tsb can i still apply for a loan with them or will my credit score come up?

CCCS_Amanda

psp1234 wrote: »

Hi,

My husband and I are both applying for bankruptcy - we live in Scotland. We are confused completing the application form.

Do we half outgoings like council tax, insurances and council tax (is in arrears)?

Also we receive tax credits in both our names...

Or do we repeat the full amounts on both our forms?

Also, when the form is complete, do we only send it to the AIB or do we have to take it to the court also?

Thanks in advance

Hi psp1234,

Thank you for your post.

If you need help in completing the sequestration forms then you could go to either your local Citizens Advice Bureau(CAB) or to the local court for verification.

Kind Regards,
Amanda

CCCS_Amanda

Esoog wrote: »

Greetings,

My girlfriends (soon to be ex!) useless husband is thinking of applying for bankruptcy, they have a joint account that has a balance of £-3000 - . My girlfriend is currently paying all the interest charges etc for it because the lazy chimp won't get a job and won't give up any of his dole money because he needs it for fags/booze.. If he goes bankrupt will this account become her problem totally?

Also, they have a joint mortgage, he doesn't live there and hasn't contributed to the mortgage for over six months, what happens to the mortgage? Its in negative equitity (I think thats the right term? The mortgage is more than the house is worth now)

Hi esoog,

Thank you for your post.

As philnicandamy indicated, if your friends husband petitioned for his own bankruptcy then the overdraft would become your friends responsibility.

If the home that they own is in negative equity your friend will probably be given the option to buy his beneficial interest in the property. The beneficial interest, when a property has negative equity, is usually sold for £1 plus costs.

I hope this helps.

Regards,
Amanda

covlad1980

Hey all need some advice, I am new to the site. .

The situation as it stands in total I have 26 k worth of debt all with Hsbc in terms of loan credit card and overdraft.I have pone or two smaller debts of cpl hundred,but they will soon be cleared.
I am paid a about 1200 a month,but I am constantly living in my overdraft,which stands at 1.5 k.
So get intrest payments every month.
I also have another 65 months to go on the loan,and I can only make minimal payments on credit card,so that is not going anywhere.
I feel like I am surving every month and it is starting to get to me.I have never missed a payement,but that is due to me lending to make my payments.

I want to move in with my girlfriend and have a life and not worry about the debt.
I currently have no morgage and have a car worth only 1k ,and have no dependants.

I have tryed to speak to citizen advice with no luck, I have been offered ivas bankruptcy and debt management from some companys,but not sure what best for me .
I really dont know what to do it is starting to effect me and help or advice most apreciated