Ask a CCCS counsellor a bankruptcy question

CCCS_Sarah

MsLouise wrote: »

Hi
I hope i'm posting in the right place. Ive been taking lots of information in for the past few months of what is best to do.

CCCS advised my best option is BR. Which i fully accept. I have a few problems with that at the moment as it may affect my future employment which hopefully will be changing late this yr or early next year. I have already contacted the union of the employment who said it doesnt appear to be a problem however I dont want to take the chance.

So im wanting to do a DMP in the meantime..

I wont be in the UK for the next 2 weeks and ideally want to get this started asap. the stage i'm up to is I have a new bank account set up and have transferred my income and rent. is it OK at this stage to cancel my direct debits even though I have not yet set up my DMP?

ive had my paperwork sent by email from CCCS so they've already assessed what my payments would be? does this mean I can start this asap or do i have to do anything else?

Thanks

Sorry for the late reply!

As soon as we have all the paperwork back from yourself, we will then send the proposals off to your creditors. In your pack there will be a letter called ‘notification of debt management plan’, send that on to your creditors with a token payment – this can be however much you feel you can afford. So you can now cancel your direct debits (to your unsecured credit debts that is)

If you have any questions about your dmp, please feel free to ask. If you do decide that you do want to go down the route of bankruptcy in future, then all you will need to do is just give the CCCS a call to cancel your DMP and then we can help you with the rest.

Good luck


Sarah

CCCS_Sarah

agata wrote: »

I am not sure if anyone will be able to help me. My husband and I are on DMP. We owe over 40k. We also have 110% mortgage and are in negative equity. I am currently on maternity leave, but if I go back to work I will be able to pay 1/2 of the mortgage and my debts without DMP. My husband is unemployed and I don't think he will be able to pay off his part of the mortgage and his debts. Please advice what would the bank do with the house and his part of debts? Will I be responsible for his loan and CC? I know it may sounds funny, but I really have no idea. How can we sort this out if my husband declares himself bankrupt?

It’s difficult to answer without knowing the full situation. For example you could separate your budgets or you could look at it as a joint budget. If there has been an income shock in the household it maybe that you are entitled to some help with your mortgage payments until things get more on track.

Who is your DMP with?

CCCS_Sarah

NewbieMoneySaver** wrote: »

Hi All,

Hope someone can help me with some guidelines on what to think about. The story is that my wife left me and the debt from our marriage is in my name. Great I know.

Well here is the breakdown.

Loan £10.001.28
Halifax CC £3984.39
Halifax CC £6258.66
Halifax CC £7193.60
Lloyds CC £1500
Lloyds Overdraft £4900
A&L Overdraft £5000

Total £38172.76

It’s difficult to give you detailed advice on your options as we don’t have your full financial details. However 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.

philnicandamy

pluto12 wrote: »

Hi
Can you tell me if my husband and I filed for bankruptcy, would we have to appear in court in person.
Thank you

yes you would i'm afraid........

pinklolly

i am about to file for bankruptcy and have found myself unable to pay credit card, store card bills etc this month. i am already well into my agreed overdraft and by paying these bills, leave myself with no money to live, ie for food etc.
if i just dont pay what will happen?????
do i inform the companies that i am about to file for bankruptcy or not????

the other issue i have is my ex husband and i have a mortgaged house with at least £20,000 negative equity. we have had advice from the cab who have suggested a voluntary repossession.
im still confused and worried about the negative equity though. we are hoping to hand the keys back probably end of next week and then file for bankruptcy. obviously we wont have an exact figure for the negative equity so will this still be covered by the bankruptcy?

phockse

I have posted this somewhere else but think it may be in the wrong place. So here I go again. I have a small business I purchased 3 years ago, it has been struggling recently so yesterday I came here for advice and someone pointed me in the direction of bussiness debt line, whom I rang and they were great and are going to help me sort everything out. As part of the debt managment they advised me to open a new business account with someone I dont owe any money to. I have tried to do this today, however it was declined, they rang me back to give me a reason (they dont usually) apparently the previous owner of the business has declared it bankrupt on 4th Sep 09. How can they do this when they have not owned the business for 3 years, its now showing on my business credit file. I dont know what to do, no one is going to open a new account for me now. Just when I thought I had things sorted, dont know how much more fight i have left in me. Thanks for any advice!!!

Lizaisabella

Hi,
Please could you help?

Last year bankruptcy proceedings were begun against my husband and I due to his business debts of over £100,000 it was a personal rather than ltd company.

It has taken nearly a year to sort out the final settlement figure as the bank were originally claiming the debt should be applied to the whole mortgage and not just my husbands share which has now been amended and it will only apply to his share.

I thought we were now at the point where we could pay the money and move on however we have just had a letter to confirm the Mazar people have had ou house revalued and where we were expecting to pay about £2000-£4000 they have now said the house is worth £40,000 more and they calculate the full and final figure as £26000 and they are prepared to accept £20,000.

Is there anyway for us to negotiate this as we can't really afford to pay it and it is really out of the blue, we really don't want to be forced to move but we would have to in order to pay this.

Do I need to send them a letter and what should I say?

Thanks

ladylumps45

Hi
my income is incapacity benefit,dla,child tax credit,child benefit.i understand that i wont have to pay an IPA or an IPO(not sure which one it is but i mean the one where you have to pay something back for 3 years).
however my ex husband pays me £125 a month maintenance for my 13 year old.this is done by private arrangement and its paid from his bank to mine each month.
my question is,as this is not a benefit does it mean i will have to pay an IPA(or whatever its called lol)?
thankyou.:o

nataz

Hi My husband is due to be made redundant in Nov, he is the sole earner (24k) as I look after our two children (2 yrs and 4 mths). We rely entirely on his income, except for tax credit and child benefit (currently £350 a month). I dont get any maternity pay as I wasnt working when I fell pregnant. We have debts just over 9k to several creditors, rent a house and have no savings. We had been attempting to reorganise our finances and live to a very tight budget. This recent redundancy means we will have no money to live with (except any measly benefits!!) His redundancy payout is just over 1k!

Please help us decide what to do, whether bankruptcy is our best option and what it will mean in terms of our current life.

Unfortunately he works in architecture and as you might guess there is little or no work in that area.

Thank you for your help.

CCCS_Matthew

simon.mcmorrow wrote: »

I have been left an inheritance from my mother but I fear that I may not be able to benefit from it, the reasons are very complex and long winded, but please bear with me.
In the midd 90's I suffered from depression and was unable to work, I was bankrupted by the inland revenue, my mortgage company as well as my credit card company. I relocated to my home town and was able to get another mortgage via a false identity and a 25K loan from my mother. By 2002 I was again in mortgage arrears and still unable to work but clear of bankruptcy. My house had shot up in value and I was able to buy the house under my real name, again with the help of my mother. I was able to clear the debt of my assumed identity and have a little left over to buy a car and continue mortgage payments until 2004. Due to further health problems I was still unable to work so got into arrears and was evicted and made bankrupt under my real name for the second time. I did not co-operate with the receiver and they are suspicious of how I managed to get a mortgage whilst not having an income, because of this my bankruptcy discharge has been indefinitely suspended. Now this year my mother died leaving a reasonably large estate (considering she worked as a hotel waitress) to be shared between her four sons. Unfortunately when my mother wouldn't help me financially any more I estrange myself from the family. Now my brothers are refusing to release my inheritance to me saying the receiver should get it to pay towards my outstanding debt and they have threatened to contact the receiver and give them my contact details unless I inform the receiver of my inheritance. I think that my brothers are motivated by greed and are trying to get back at me for not attending their mothers funeral.
I don't think that the money my mother saved through working long shifts in a hotel should go to some debt agency when she would have wished for me to get some benefit from it. I know I’ve been foolish and made a few mistakes but this money would go a long way to helping me get on my feet again.
Can my brothers withhold my inheritance and can I sue them if they give my contact details to the receiver, can I hide my inheritance from the receiver if they don’t know where I am?

Hi there, thanks for getting in touch.

I’m afraid I’m going to have to be pretty frank with my response to your question. Failing to provide details of the windfall you are entitled to would be considered as fraud. As you are already under an indefinite bankruptcy restriction order you could be prosecuted and even end up going to prison.

Given the circumstances I think you’re brothers are within their rights to withhold the money until the official receiver has notified of it. I’m not legally trained but I don’t think you would really have a case for suing your brother’s. The procedure they suggest you follow is correct in terms of what should be done when you come into money when an undischarged bankrupt.

I would seriously consider telling the official receiver yourself about the matter otherwise you may find yourself in much more serious trouble.

Regards,
Matthew.