Ask a CCCS counsellor a bankruptcy question

kazza1968

can anyone advice me what if a someone comes to your door to collect money from you can you say that you are going to apply for bankruptcy or would you be better off not saying anything to them im looking to go bankrupt soon but i am really worried thanks

cherrybomb

Should i go bankrupt? I owe just under £10,000 (this is on credit cards, a loan, over drafts) and Im now off work on SSP. Ill soon have nothing at all coming in dispite my best efforts. should i go bankrupt and if so how do i do this???

LM53XEY

hi my partner was made bankrupt last year and since then we have lost our home and are now living on benefits. The morgatage company are now chasing me for the 45,000 short fall along with other creditors in my name, i am also being chased by the council for non payment of council tax and have bailifs turned up at my door at 6am, when i have 3 small children. i am unable to pay the creditors so need to go bankrupt, the problem i have is the cost!! i cant raise the money to pay for it do you no if there is any help i can get.

philnicandamy

LM53XEY wrote: »

hi my partner was made bankrupt last year and since then we have lost our home and are now living on benefits. The morgatage company are now chasing me for the 45,000 short fall along with other creditors in my name, i am also being chased by the council for non payment of council tax and have bailifs turned up at my door at 6am, when i have 3 small children. i am unable to pay the creditors so need to go bankrupt, the problem i have is the cost!! i cant raise the money to pay for it do you no if there is any help i can get.

if your really struggling with the £510 fees, there are a number of charities and organisations that may help with Bankruptcy costs and fees depending on eligibility. Examples below.

• Severn Trent Trust Fund and other water trusts
• EDF Energy Trust
• Royal British Legion
• Some Trade Unions
  • Trades Union Congress
  • Union Finder from Worksmart
• Turn2Us enables you to search for charities

Please note you will usually need the assistance of a recognised Debt and Money Advice Worker in completing applications relating to the above.

Also, please be aware that any applications to the above may take a number of weeks and are not guaranteed to be sucessful, I have hears in the past of many successful applications so it may be worth a try.

martin99_2

I have recently had my appointment with the CCCS and was advised that with £140 p/m to put towards my debts of £26k (which would take 15 years), that BR was the most sensible course of action.

My question relates to a £1500 compensation payment that I am due to receive in the next week or so. I am planning to use this money towards the cost of the BR fees, with the remaining amount to go to my wife to payback a small part of the £3k she has lent me over the last 18 months. What is the OR's stance likely to be on this? Will they have any claim to the money?

Many thanks.

philnicandamy

Compensation as far as it goes is this....the OR takes loss of any earning & your allowed to keep ammount given for pain and suffering

now...the payment to your wife really will be a big no no with the OR...this can be seen as preferential treatment to a creditor meaning the OR could ask your wife for the cash back....

Barry1980

Hi Wendy
I will be paying my final contribution towards my Trust Deed at the end of this month and would appreciate any advice in helping rebuild my credit rating. I know it will never be excellent but any tips to improve it would be much appreciated.

Thanks Barry

cherrybomb

if i go bankrupt will i ever be able to have a bank account or a morgage in the future??

philnicandamy

cherrybomb wrote: »

if i go bankrupt will i ever be able to have a bank account or a morgage in the future??

bank account "maybe" i'm 2 and a bit years discharged now & recently got a Nat West full account with no probs

Mortgage? of course you will be able to eventually...just means you might have to find a bigger deposit though than others because of the bankruptcy

CCCS_Alan

NewbieMoneySaver** wrote: »

What problems will bankruptcy have on my future. I'm also in the navy but have been put in a bad situation because my left me for another man and has also left me with the debt.

Hi NewbieMoneySaver

Bankruptcy can have a number of affects on a person. It can lead to loss of assets, and income payment arrangement for 3 years, it will go on your credit file for 6 years and it can affect some careers. These are just a few things as without knowing your full situation it’s difficult to provide you with full advice.

If you would like advice you have a couple of options. You can visit our online debt advice facility called Debt Remedy. Debt Remedy would assist you in completing a financial statement and you would be provided with tailored advice on the best way to deal with your situation. Click here to go directly to Debt Remedy.

If you would prefer to talk to a debt counsellor about your situation, you 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. 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_Alan