Ask a CCCS counsellor a bankruptcy question

CCCS_Alan

trying_to_get_by wrote: »

I split with my former partner in april 2007, when we sold our house and went our seperate ways he gave me his half of the proceeds from the sale of our home which worked out around £13k as he was not working. As I recieved this money from him I did not expect any contribution for our children. I have now recieved a letter from a solictor informing me that he had made himself bankrupt in august 2008 and that they now want me to repay this money back. I am really worried I do not have this money now and have enough of my own debts to be dealing. With can anyone tell me where I now stand as I dont want to have to leave my current home uprooting my children again.

Hi Trying to get by.

Sorry to hear about your situation.

It sounds like your former partner did not think he was doing anything wrong by giving you the money. Unfortunately it seems that they have deemed that he disposed of his assets, the 13k, before going bankrupt.

I would suggest contacting Community Legal Advice to see what they can advise you on this situation. I have included a link below for you.

http://www.communitylegaladvice.org.uk/index.jsp

Regards

CCCS_Alan

sportie

CCCS_Alan wrote: »

Hi Sportie

Any one can give up a property at any time. They could contact the lender and arrange to hand the keys back if they can no longer afford the property. It would then go to auction or be put on the market, and on been sold they would be billed for what ever is outstanding on the property at that time. Am I right in thinking that if they both declared themselves as BR then this outstanding debt would be included

In bankruptcy his car would be deemed as an asset, and if a vehicle is essential they will only allow one of around £1000 to be kept.

If in the future you have joint liabilities an association could be placed onto your credit file which could affect your credit score. Below is a link that explains a bit more about association. So, as long as we didn't have a joint account, mortgage or apply for credit together - we wouldn't be seen as finacially linked. Is that correct? What about if we were married?


I would suggest your boyfriend comes for an appointment so we can go through his situation in more detail to make sure bankruptcy is his best option. If he would like to talk to a debt counsellor about his situation, he can book a telephone based appointment by calling our helpline free on 0800 138 1111. Lines are open Monday to Friday 08:00-20:00. He is already in contact with them, just he's embarrassed about the situation and doesn't want to bring me down with him - so find it difficult to get all the answers from him

Regards

CCCS_Alan

Thank you Alan

CCCS_Sue

mightykate wrote: »

Hi
I was declared bankrupt in May had no assets o it seemed quite straightforward to the OR. They said they would reccommend an early discharge after 6 months which hopefully will be October. What exactly does this mean? I have a basic bank account with abbey that i opened on the day. In terms of mortgages etc when would I be able to apply?

Kind regards

Hi mightykate and thank you for your message


I have attached a link to the Insolvency website which will answer your questions regarding discharge from bankruptcy. click here

The bankruptcy will show on your credit file for 6 years and it will depend on the mortgage lender whether you would be eligible for a loan to buy a house.You may find it difficult to get a competitive interest rate as some companies will use a 'rates for risk' policy.This means the higher risk you are,the higher the interest.
Regards
CCCS_Sue

CCCS_Sarah

adg1980 wrote: »

My partner has debts of over £40k and intends to declare himself bankrupt as soon as we can get the money together. How long, approximately, will the bankruptcy last?

He has been living with me for just over 2 years and the only thing he owns of value is his car (but would only be worth about £1k). Will his bankruptcy effect me in any way? We don't have any credit agreements, loans or bank accounts that are owned jointly. Would they repossess any of my items or assets?

Also, he is self employed and needs his car for work. Would they take his car?

My partner has debts of over £40k and intends to declare himself bankrupt as soon as we can get the money together. How long, approximately, will the bankruptcy last? His bankruptcy will last for 12 months, if and income payment arrangement is set he would have to make payments for three years and if would stay on his credit file for six years.

He has been living with me for just over 2 years and the only thing he owns of value is his car (but would only be worth about £1k). Will his bankruptcy effect me in any way? We don't have any credit agreements, loans or bank accounts that are owned jointly. Would they repossess any of my items or assets? Is the house jointly mortgaged or mortgaged in your name?

Also, he is self employed and needs his car for work. Would they take his car? If the car value is £1000 then I can’t see this been a problem, but it would be down to the official receiver.

CCCS_Sue

washappychick wrote: »

Hi All

I have stopped burying my head in the sand and have decided to go BR.

I have approx 40k debts with my ex hubby, who went BR earlier this year, leaving me solely responsible for the debts.

We did own our own house which I was living in after the split but I was offered a very good job and relocated to Wales, renting out my house to my brother and his new wife. I was then made redundant at Christmas and moved back to my hometown and into my sister's while I looked for a new job. I was lucky enough to find one in February, but on giving my brother notice in my house he refused to move unless I went through the courts!!!! new wife's influence I think. As I had been at my sister's (already 4 in her 2 bedroomed house, then me and my youngest son)for 4 months and I could afford to rent a property, this I did. My brother moved out of my house 2 months later!!! so no mortgage being paid.
My oldest son was then made redundant and moved in with me also. My youngest son is on an apprenticeship so only gives me a little in rent money.

I have kinda completed a budget thing (not sure of its correct name)

I have been reading this forum for a while and found the advice and info helpful and it has reassured me its not the end of the world to be BR and there is life after too.

I know I will need a new b/a but not until after the BR, but do I have to attend court to petition for BR?

Is there a chance they might not let me?

I am worried about if I have to make payments for 3 years after, how does this work, what are the rules?

The court and the OR is the scary bit, hopefully when I get thro that bit it will get easier

I'm going to go to the court and pick up the paperwork as I don't have a printer at home to print the forms off, my parents are going to lend me the fee, so I will be ready in the next few weeks.

If anyone has any other advice it would be welcome.

Thanks

Hi washappychick and thank you for your message

Have you had any professional advice regarding your bankruptcy?
It may be that there could be other options you could consider before you decide on bankruptcy.
Without knowing your full financial details, I cannot advise you on the options that may be available for your situation.

If bankruptcy was your best option, then you will need to attend the court hearing.

If you would like to discuss your situation with a debt counsellor, you can ring our free helpline on 0800 138 1111. Lines are open Monday to Friday 08:00-20:00
The counsellor will help you put together a budget showing your income and expenditure that you can use for your bankruptcy application.

We also have a bankruptcy support team who can help you with any further queries regarding your bankruptcy.. It would be helpful that when you call you have details ready regarding your income, expenditure and creditors, as this can help speed up the referral process. If you have this information ready it may be possible to refer you directly to a counsellor if one is available, otherwise we will arrange a time that is convenient for you to be called back for an appointment.

Regards,
CCCS_Sue

CCCS_Sarah

philnicandamy wrote: »

just a few thoughts to help

Beat me to it again

scatty_and_scared

I am just starting the process of going bankrupt, having been to the CAB for their advice.
They gave me a template letter (they don't have time to help more, although I did ask them to represent me ), and told me to write to everyone to make token payments as the first stage.
I've just sat down with all the paperwork, and find that I've got so many letters from debt collectors (I've got 3 different companies just from one debt, and only been suffering problems with paying for 4 months!!! Let alone all of the others!) that I just don't know who I'm supposed to contact.
Do I just write to the original credit card companies etc., or am I supposed to write to the debt collectors too? With the same letter? All of them, or the most recent ones (no, no letter informing me who is managing my debt now)?
I'm totally despairing, and not coping at all!
Really hoping you can help!

Desperate+Depressed

CCCS,

I have twice today given my personal email address and mobile no. for a member of your Bankruptcy Team to contact me.

What is the normal waiting time to receive a call/email from them?
I have sooooooo many questions to ask before I make a final decision.

You (CCCS) have already advised me that my best option would be Bankruptcy

Many thanks

CCCS_Alan

miss_spooky wrote: »

Hi,

I am helping a friend sort out her finances. We had a sort out through all her paperwork and found that two accts were poss statute barred. Wrote to both companies with the Statute Barred letter from here. Lettes sent beg July 09.

One co agreed and confirmed so and has taken her details of their system. The other comp sent back statements showing the last activity on the account. Now, they are claiming that the last payment was 23/11/03 but after looking at her statements it seems that the last actual payment was 23/09/03 with Oct & Nove 03 DD being returned as rejected. The outstanding bal conf this.

So, the question is, which would be the correct date. Sep or Nove 03?

Also this is the only letter she has sent to them, they do not have her contact numbers only her adddress, so would this mean she has acknowledged the account although it was a SB letter sent?

regards.

Hi Miss Spooky

They criteria are that the debt has not been acknowledged in writing, or payments to the debt have been made within the applicable period.

With her case I would suggest contacting the Financial Ombudsman to try and clarify where she stands, as we can’t say if the unpaid payments would or would not count unfortunately.

Regards

CCCS_Alan

stapeley

I,ve been served SD by a creditor , they are one of three that are chasing me . I can not pay any of them. I,ve done a CCA request on all of them , none has supplied a CCA . The one who served the SD only sent a copy of a Application form . My question is as they are all unsecured, I have no assets and very low income ,should I let them pay for the bankruptcy . Would save me the cost and I could start afresh ?