Ask a CCCS counsellor a bankruptcy question

martin99_2

Can a parking ticket from the local council be included in a BR petition?

Also, I have a creditor that will be issuing me with a default if I don't pay them the required amount before 19/09/2009. Should I make a payment to them, or will all creditors issue a default notice when I petition for BR on 07/1-/2009 in any case?

Finally

mcrane10

hi

wondering if you can help. If someone who had been declared bankrupt needed their share of the equity in a propety paid in order for the propety not to be seized - and a family member had agreed to pay this 5 motnhs ago - even when they have been discharged from the bankruptcy is this still liable to be paid? Several requests have been made to the people dealing with the bankruptcy to send out details of where payment had to be made to, when it could be paid etc over the course of the past 5 months (they have been contacted on 4 seperate occasions) but have never sent out these details. The date of discharge is end of this week, if no contact is made by the insolvency practitioners about how to pay this what happens? Is the amount still owed and the property at risk? If so for how long and how long would you then have to pay it off?

Any advice would be appreciated!

Thanks

CCCS_Amanda

Jone7y wrote: »

I've just split with my partner a couple of months ago now in which we had a mortgaged house together,
neither of us could afford the mortgage on our own which resulted in us handing our house keys back to northern rock and doing a voluntary surrender.
on top of this we were behind with our,gas,elec,water,council tax and our o/draft on our joint account....and seprately in solely my name i have a big o/raft plus owe money on a credit card and catalogue.
anyway just with what i owe to northern rock alone it is nearly 60,000
plus with the over bits on top probably in the region of 65,000.

I've realised making myself bankrupt is probably the only realistic way out for me,but since looking into it i have a few concerns,
1) being the ipo/ipa payments i almost certainly have to make towards my debt,it just worries me that im going to work my !!!! off for the next 3 years only for half my free money to be taken off me? i have to work nearly 60 hours every week and if when i rent a place of my own il probably only have a few hundred left a month as it is,but then half of that will have to get paid back? is this right?
if thats the case im seriously thinking about claiming benifits and then going bankrupt as at the moment im only working for an employment agency anyway.
if anyone has been in a similer position to me and understands my concerns i'd be really grateful for some advice or for you to let me know what you did in your situation.

thanks Paul

Hi Paul,

Thank you for your message.

If the Official Receiver (OR) were to set up an income payment arrangement, this would be based on your budget. The OR budgets for all of your essential household expenditure and if there is money left over then this is usually paid into the bankruptcy for 3 years.

If you did not decide on bankruptcy then you would probably be making repayments to your debts for longer then 3 years. There has to be a trade off – If you are asking the court to protect you from your creditors, write off your debts, and give you a fresh start then it is reasonable for you to make payments for a reasonable time if you can afford to do so.

Regards,
Amanda

CCCS_Matthew

active8 wrote: »

hey all,

my wife and myself have got ourself into quite a jiffy and we owe a fair amount to credit card issuers as well as our banks.
i am between jobs at the moment and as you should be aware there is little or not much jobs around at all at the moment and therefore this is proving tricky to pay monthly minimum payments back to the creditors.

we have written letters to the credittors today (using CCCS letter template) asking for them to freeze our accounts/minimum payments and asking them to accept offer of £1 per month to pay off gradually.

how long does it generally take for the creditors to reply? and if they dont agree what else can we do???

otherwise we have been advised whether we would consider bankruptcy and was wondering if anyone else here has ever been in a similar situation?
what would they take? would it be suss to move our expensive gadgets to someone else's house so they don't get taken???

any thoughts

thanks

Hi there.

You will often find that some creditors never respond to your offer of a token payment. In such cases, as well as the creditors that reject the offer, you should pay the amount regardless. The reason a token payment needs to be offered is due to the fact you aren't in the position to offer any more, so there is no room for negotiation if creditors reject the offer and demand more. By paying a token payment, at the very least, shows willingness to acknolowedge some sort of payment is registered on a monthly basis.

If you are considering bankruptcy, assets such as property, vehicles and antiques are taken into consideration. Items such as furniture, white goods and home electrical items are not normally considered.

Hope this helps,
Matthew.

CCCS_Matthew

martin99 wrote: »

Can a parking ticket from the local council be included in a BR petition?

Also, I have a creditor that will be issuing me with a default if I don't pay them the required amount before 19/09/2009. Should I make a payment to them, or will all creditors issue a default notice when I petition for BR on 07/1-/2009 in any case?

Finally

Hi there.

If it's a council parking fine, it's classed as a magistrates fine which cannot be included within a bankrutpcy petition.

As far as the default is concerned, you don't need to do anything if you've made the decision to go bankrupt. The default will be registered against your credit file for 6 years, but so will your bankruptcy so there is no need to make any sort of payment.

Matthew.

CCCS_Matthew

mcrane10 wrote: »

hi

wondering if you can help. If someone who had been declared bankrupt needed their share of the equity in a propety paid in order for the propety not to be seized - and a family member had agreed to pay this 5 motnhs ago - even when they have been discharged from the bankruptcy is this still liable to be paid? Several requests have been made to the people dealing with the bankruptcy to send out details of where payment had to be made to, when it could be paid etc over the course of the past 5 months (they have been contacted on 4 seperate occasions) but have never sent out these details. The date of discharge is end of this week, if no contact is made by the insolvency practitioners about how to pay this what happens? Is the amount still owed and the property at risk? If so for how long and how long would you then have to pay it off?

Any advice would be appreciated!

Thanks

I think Sue has sent you a PM earlier today with an answer to this one.

Cheers,
Matthew.

crowman19

I'm after some advice regarding a CCJ I think I have that I knew nothing about.

It appears that I may have a CCJ from my old address which I never knew about or had any correspondance about.

I saw it on my Equifax credit file a few weeks ago while checking it.

It is dated Jan 2008. I moved out of that property in Apr 2007 hence why I had no contact about it.

I am pretty sure it is one of my old debts and contacted the court to obtain details. They gave me a solicitors name and number to contact.

I spoke with the solicitor who said that without my current address he couldn't get any details off the file, so I gave him my address after assurances that I wouldn't have debt collectors knocking at my door.

He asked me if I used to have an Egg card which I did so this is why I think the CCJ is for an old debt of mine.

I asked him if he could get some details of the debt from the collections company so that I could be 100% certain if it was mine or not.

He phoned me back the next day saying that the debt was certainly mine so I asked him for some details to prove it and he told me that the collection company doesn't have to provide me these details because it is a CCJ now.

The onus is on me to either pay the debt or go to the courts to get the CCJ removed.

My question is what is the procedure now if they want to get bailiffs on the case ?

Do they have to go back to the courts to get permission for my new address ?

I am going BR in a few weeks when I have the fees together so this will cover the CCJ if it's mine but just wanted to know what timescale I have.

Thanks

DownbutnotOut_3

My husband and I have been in a Debt Management Plan with BrightOak for around 18 months. We have £43000 of debt. We were initially making token payments, as I stopped work when our son was born, and mortgage payments were high. We have very little equity, or possibly negative equity.

I am now earning a small amount of money childminding, and our mortgage payments have drastically reduced due to the current low interest rates. My husband is still in employment. Our finances have therefore improved, but the interest rates could go up again at any time, and our credit rating will probably not enable us to fix again.

I am Irish, and now wish to move back to Ireland as soon as possible.

I would be happy to arrive in Ireland debt free. Do you think that bankruptcy is a way forward for us now? “Losing” our home is not an issue, as there is nothing in the way of asset tied up in it.

Any advice welcomed.

needingadvise

Please can you help.... with my bankruptcy questions...

How long does the process take...
If i sell my house, if prices rise, will I have to pay everything I make in profit back to my creditors....
what effect will bankruptcy have with my applying for jobs in the future..
what will happen to my bank account....
will my bankruptcy go in the local paper...
will I have to tell my present employer..

Sorry, may be a bit obvious questions but just finding it difficult to think clearly at the moment..

Thank you

gemma26

Hi, I would like some advice please. My partner and I are in an IVA and have been since August 2008, we missed 3 months payments at the beginning of this year and have recently had a reduction in pur monthly payment as we were struggling financially. At the time we were told that if still finding it a struggle then to get in touch and alternatives would be made available to us. We have been feeling the strain, still and I have made contact with my IP for advice. I was wondering if a debt management plan would be a better option as it would be a lower monthly payment or if bankruptcy would be better? My partner thinks bankruptcy is the best option, but I am unsure if what this would mean to us in the long run. We rent our property and the only assets so to speak are our cars, my partner needs his to travel to and from work, and I need mine taking my son to school and for the weekly shopping. I appreciate that it could be said that I could take the bus for the shopping but I have a 1 year daughter as well and carrying shopping and her in the pushchair on a bus would be a nightmare! Could you advise which option would be best please?