Ask a CCCS counsellor a bankruptcy question

CCCS_Alan

stleonardsc wrote: »

Just one other thing I was told by the CAB HASTINGS to stop paying creditors and try and get £350 for Bankruptcy fee as the application to get mone from a trust has failed / they,ve got no money to give. Are there any other was of getting the fee??

Agian thanks in advance

Hi Steonardsc

On top of what Philnicandamy has already suggested you could try another option. If someone does not have the funds straight away to afford bankruptcy, they can make token offers to creditors of £1 each month. And save the remainder of the surplus up for the fees. This may take a while and the debt could increase, but it would still be included into your bankruptcy and allow you to save the fees.

Regards

CCCS_Alan

CCCS_Alan

idbi wrote: »

Hi to everyone - I'm a new Moneysavingexpert user. I have been looking through the posts to see if I can find some answers to a help a family member. The posts have been useful, but I hope you won't mind if I ask a similar question, but more specific concerning the situation I'm helping to deal with.

If a post office account is opened to receive money for normal living expenses before bankruptcy is requested, is it likely to be frozen along with any other bank accounts is bankruptcy is granted?

Hi Idbi

The account would be included into your bankruptcy and unfortunately included in the temporary freeze on accounts

Hope this helps.

CCCS_Alan

CCCS_Alan

saffrongirl wrote: »

hi, i went bankrupt in Dec 06. I am now disscharged but i left a creditor of my bankrupcy list by mistake. I was so deppressed and did not realise so i thought i would just pay them, but i have still been struggerling and missed a payment or 2 and tried to set up direct debits and they got me to pay loads of but it just keeps going up and up it has risen from £270 t0 £430 and they are adding charges every month even though i am paying they do not send regular statments then they say i have a late fee. I got worried because i forgot to put them on the bankrupcy list so i keept paying is there any thing i can do to wipe the dept i filled in a list to show i could not afford to pay and because i offered £20 a month they said i can afford to pay i haven't told them i wernt bankrupt because i am worried. please can you help. thank you saffrongirl.

Hi Saffrongirl

If you provide the creditor with your bankruptcy reference number, they can check on the insolvency register that you have been declared bankrupt. If they still pursue you contact your OR who dealt with your case about the situation.

Hope this helps.

CCCS_Alan

CCCS_Sue

norway wrote: »

I am a discharged Bankrupt for the last 10 years now. And have been debt free ever since. But whilst listing all my outgoings, I included a company pension that I had. I was given the impression that when I retired, monies would be taken from these pension savings to go towards outstanding debts. Can you confirm this and advise me if there will be any challenges on my future savings.

Hi norway and thanks for your message.

Normally,any part of your pension that was claimed by your trustee will be collected by him when you reach the retirement age under your pension arrangements, even if this is after your discharge from bankruptcy.
It would also depend on the type of pension you have.
I would recommend that you speak to the Insolvency Service for further help and advice.
I have attached a link for you. http://www.insolvency.gov.uk/

Regards
CCCS Sue

CCCS_Sue

Kuggers wrote: »

Hi. I was declared bankrupt back in July. I am about to change jobs and am nearing completion of a course. My current employer paid half of the course fees (just under 2k) and is now demanding that the fees are paid back, as I am leaving so close to completing the course. The fee payment came out of my line manager's budget, rather than a centralised training budget and I have an excellent relationship with this manager. This manager has agreed to repayment spread over a number of months. I would like to repay this, particularly as non-payment will impact directly on this manager. Am I right in thinking that the fees will be considered as a debt by my OR and therefore that they will have to be included in the bankruptcy, therefore preventing payment?

Hi kuggers and thank you for your message

I believe that this would be the same as any other debt, and therefore would be included in the bankruptcy.
If you did try to come to an arrangement, the OR may extend the term of the bankruptcy (Bankruptcy Restriction Order).
I would recommend that you contact your OR direct for further advice on this.

Regards
CCCS Sue

philnicandamy

CCCS_Alan wrote: »

Hi Steonardsc

On top of what Philnicandamy has already suggested you could try another option. If someone does not have the funds straight away to afford bankruptcy, they can make token offers to creditors of £1 each month. And save the remainder of the surplus up for the fees. This may take a while and the debt could increase, but it would still be included into your bankruptcy and allow you to save the fees.

Regards

CCCS_Alan

one thing to remember as well NOT all creditors will take token payments sometimes...a few refused with me

CCCS_Sue

kazza1968 wrote: »

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

Hi Kazza and thanks for your message

Yes,you can advise them that you are applying to go bankrupt.

Regards
CCCS Sue

CCCS_Sue

cherrybomb wrote: »

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???

Hi cherrybomb and thank you for your message

Without knowing your full financial situation,I am not able to advise whether bankruptcy would be the best option for your situation as there may be other options you could consider.
I would recommend that you call us for an appointment to disuss your situation further with one of our debt counsellors.
If you would like 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 Sue

CCCS_Sue

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.

Hi LM53XEY and thank you for your message

Your council tax is your main priority here, and it is important that you try to come to some arrangement to pay something rather than nothing.
The shortfall on your mortgage is now an unsecured, non priority debt, so you can offer a token payment of £1 as a gesture of goodwill for now.
If you are thinking of going bankrupt, there is a fee of £510 but some of this can be waived if you are receiving any benefits. The reduced amount is £360.You would need to fill in form EX160A.
However, if you are struggling financially, then this will seem like an impossible amount of money to get together.
Some people who are going bankrupt ask family and friends to help out, or there are certain trust funds you can apply for.(As philnicandamy has already mentioned)
If you would like some further assistance with this, you can ring for an appointment to speak to one of our debt counsellors. We do have a bankruptcy support team you can contact for help with raising the fees and filling in the forms.

If you would like 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 Sue

CCCS_Sue

martin99 wrote: »

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.

Hi Martin99 and thanks for your message

As Philnicandamy says.......it would seen as preferential treatment over other creditors.

Regards
CCCS Sue