Ask a CCCS counsellor a bankruptcy question

CCCS_Sarah

oregonuk1 wrote: »

Official receiver


will the official receiver want to come to my parents house where I live and check that what fixtures and fitting I have are correct in my bankruptcy petition.


I have in my Room


1 CRT TV worth £50.00 about 10 years old
1 Digital box worth £20.00
1 Bed


clothes like 2 pair of trowses 6 jeans 15 t shirts 5 shirts 1 pair of shoes and 4 trainers 1 boots 20 pair of socks on the insolvency website where I filled my forms in it did not have a space for clothes by I have added it any way to this list


thanks


oregonuk1

Hello,

The official receiver will not visit your home.

Good luck with your bankruptcy.

Sarah

CCCS_Sarah

cookie12 wrote: »

Hi sorry me again. I feel like I'm running around like a headless chicken trying to decide the best course of action! lol

Would it be possible for me to keep my house, pay the mortgage and keep the loan secured on the mortgage but go bankrupt for my credit cards only?

The amount it would cost me to rent somewhere would be about £750 per month and this is the same it would cost me to pay the mortg and secured loan so instead of the upheaval of moving etc it would be lovely to be able to stay. If this is possible then do I have a right to sell my property in the future if I wanted to move and will the OR always have the right to take the BI?

Thank you as always

Cookie12

Hi Cookie,

If you would like an appointment you can call our helpline free on 0800 138 1111. In some circumstances it is possible to stay in the house. We will be able to help you complete a financial statement and look at all your options. If bankruptcy is your best option, then you will be referred to our bankruptcy support team who can help you complete your forms if needed.

Sarah

CCCS_Sarah

2003wastheyear wrote: »

Will I ever be able to get a mortgage? My Bankrp would have fallen off my credit file, but do I still have to declare it?

If you are asked if you have ever gone bankrupt then you would need to declare this. Each company has different underwriting criteria and they generally use a ‘rates for risk’ policy so the higher risk you are the higher rate of interest you will pay.

CCCS_Sarah

cookie1979 wrote: »

Hi All

Please forgive me as I am naive in this area and am trying to help my friend:

Basically he has a mortgage for about 120K, a 10K loan plus all bills and utilities, he is self employed and has lost his biggest earning of income and just has a part time job of about £300-400 a month. He can not afford to pay any of his mortgage, loan nor bills … He has two bank accounts and is overdrawn by £1500 in each ….

He went to citizens advice and was told just to quit work and go on the dole … he doesn’t want to quit his part time job …

Is he best to declare bankruptcy? Do you just fill the forms in, turn up to court then walk away?

Like mentioned please forgive my naivety … This is an area I have very little knowledge in …

Thanks for your help …

C x

Hi Cookie,

What’s your friends circumstances? Seems a little odd to be advised to quit work

You could use our online advice tool Debt Remedy. You would input details of his income and expenditure and debts and then you/he will be provided with advice on the best way forward. This link will take you to Debt Remedy.

If bankruptcy is his best option then once he has saved the funds and filled in the forms he would just make an appointment at his local county court.

Sarah

embrace1204

Hi

Can you please have a look at the following thread and let me know what you think the best course of action would be? I currently have a DMP but because the Co-op won't freeze the interest on that account i'm not getting anywhere!!

Current situation is my house is rented out but the tenant is going in December and I want to get rid of the house as I no longer wish to be tied financially to my ex. Also, the Northern Rock loan is in joint names with my ex fiance so would the whole debt be included or just 50%?

I'm sooo confused.

http://forums.moneysavingexpert.com/showthread.html?p=26476109#post26476109

fiveyearplan

Why don't you ring CCCS, CAB or National Debtline. You will need to take advice from one of them so you know all the options available to you. Once you know that you will be in a position to make an educated decision and we will be here to help for the practicalities.

embrace1204

I'm already with CCCS, I've already contacted NDL. The CCCS advisor when I rang wasn't at all helpful hence why I rang NDL but they weren't too forthcoming with advising re. the best solution due to me having a DMP via CCCS. Which is why i'm now posting on the CCCS board!!

I get told conflicting info at CCCS depending on who I speak to, some say wait til the house goes, some say repo it and then br, some say br and then repo, I just want some consistent advice, it's all complicated by the fact that i'm under the threat of redundancy currently and i've also been told to wait until I get a new job. Which is all very well but it's not them that's tied to an idiot of an ex who has walked away from all his financial responsibilities!

Iwillover-come

I owe £39k in Credit Cards, Overdrafts, Personal Loans. I also owe £135k on my mortgage, this was after the collapse of a successful business concerned with the housing market and an unreliable income.

I am pretty frightened because I dont know whats going to happen.

The only asset I have is my home, it is work approx £150k.

I currently dont have an income but am desperately job hunting.

I have done a budget and I need £900 to pay all essential living expenses and priority debts, I think I will get about £1000. This doesnt allow me to pay the credit cards, overdrafts or loans.

I am speaking to a counsellor on Friday but I am a bit worried and want to know, am I going to be made Bankrupt ? is there any other way around this ? I dont want to lose my home or my dogs.

ash5896

Hi everyone i'm new to this site and have a real worry about my debts.
I have used credit cards regularly since 1996 and have always paid above the minimum every month even clearing and starting again.

unfortunately due to an illness i have been unable to meet even min pmnts and have contacted the card companies but they have obviously not been helpful.

currently my only income is DLA and industrial injuries benefit which totals approx £97.00 per week. my total debt is around 29k. Please dont think i dont pay my debts etc i had a good job but due to a permanent disabilty i am now unable to work and have been finished off from my employment hence not being able to afford the payments.

i have spoken to National debt line and they have advised bankruptcy and advised i write to the card companies and offer token payments in the meantime which i have done but they still not replied. i know there is no way of me ever returning to a highly paid job as i had before my illness but would like to pay my debts off.

can some one please tell me what the consequences of bankruptcy could be as i currently live with my children in my girlfriends house and dont want to bring my children and girlfriend down with me. i do own a car but it is my only way of getting out of the house as i cant walk. i have never been so frightened as i am now and am constantly ignoring letters and calls from these card companies

any advise greatly appreaciated

mushally

Hi. Myself and my partner who are not married but have lived as a couple for 7 years, are waiting for a creditor to make us bankrupt. A credit card is in her name, a credit card is in my name and a bank loan is in both our names. Do we have to fill the debtor application pack 1 in just my name or is it a seperate application for each of us?

Thanks in advance...