Ask a CCCS counsellor a bankruptcy question

redapples_2

HI there, I'm a newbie, great forum full of lots of helpful advice.

I have several thousand pounds of credit card debt with 2 creditors, I have had advice from the CAB and they think the best thing for me to do is go for a DRO. I have long term health issues so I am pretty much in agreement with them.

I would like to know:

1) How long does it take from making an application to a DRO being granted? (presuming no one objects) What sort of time frame are CCCS looking at?

2) one of my creditors (lloyds - suprise suprise) have decided to ignore an agreement I made with them to pay £20 per month (for 6 months). of course I cant get any sense out of them on the phone, I started writing and that seems to get a little better response, but basically I havnt missed any payments ever on the card. They have issued me with a demand for over £100, when I ring they just say its been sent to 'second tier' collections and for me to just pay what I can for now. I am worried that they will take me to court before I get a chance to apply for the DRO. If they do take me to court can the debt still be included in the DRO? It may be that I just start getting pestered by Lloyds in house debt collectors (ive been reading some of the threads on here!) it seems to be their M.O. to send it in house for debt collection by the sounds of things.

any advice?

many thanks in advance

cookie1979_2

Hi there

My boyfriend is about to go bankrupt. How will this affect me? Currently we do not live together nor have any debts together etc. However he is looking to move in with me, all the bills will be in my name etc my credit score is good - would it reduce my rate some how?? I am about to start renting after owning my own house with my husband for the last 5 years but have now sold the martial home...

Thanks v much

C xx

philnicandamy

cookie1979 wrote: »

Hi there

My boyfriend is about to go bankrupt. How will this affect me? Currently we do not live together nor have any debts together etc. However he is looking to move in with me, all the bills will be in my name etc my credit score is good - would it reduce my rate some how?? I am about to start renting after owning my own house with my husband for the last 5 years but have now sold the martial home...

Thanks v much

C xx

Hiya cookie......long as you dont have any JOINT debts with your BF then it wont have any effect on your credit files etc so you'll be ok

fiveyearplan

mushally wrote: »

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...

Its a separate application for each - and also separate set of fees to go with it. :eek:

fiveyearplan

ash5896 wrote: »

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

Hi ash and welcome! Please don't feel guilty about paying your debts you sound like you are very stressed. If you go bankrupt it will not affect your g/f providing you don't have any joint debts or accounts.

I would advise reading through this forum to get all the information you can. We've all been where you are now and I don't think any of us ever imagined we'd be in this position. You need to think of your health and take control of the debt - if that means BR then sobeit!

mustbedebtfree

Hi

I'm in Scotland and have sought advice and brankruptcy is the only option for me.

I'm begining to be really stressed out by the constant hounding by creditors and threatening letters.

I dont qualify for LILA and wondering if there is a quicker way than waiting for a charge for payment. As i hear that can take longer than a year

Would getting a trust deed and failing it be an option??

MBDF

peter_gee_2

Hi, I have a private pension that I started many years but I don't contribute to anymore, I hope to one day be able to drew on this pension when I reach 65, in about 16 years time, I am declaring banrupcy at the moment but I am worried that I may lose my pension buy declaring bankrupcy.

Can anyone help please.

Peter..

philnicandamy

Hiya peter & welcome to the forum....

little bit of a read here
http://www.insolvency.gov.uk/pdfs/guidanceleafletspdf/pension.pdf

CCCS_Matthew

seh567 wrote: »

Was advised by counsellor today to go for DRO as I have now been laid of from my job and will not be able to carry on with DMP payments. Having been reading on this forum I notice that you can't do a DRO if you have a contracted out serps insurance policy or private stakeholder pension pot, which I have from a previous employer, although they are small amounts it puts me over the £300 assets limit. I have no other assets apart from an old car worth approx £1k. I have between £15 & £16k worth of debt, will CCCS be able to help me through this process or do I need to contact a court for applications and hearing date and go throught it alone. Thanks

Hi Seh,

If you've contributed towards a company pension to the value of £300 a more, it rules you out of the possibility of doing a DRO. With this in mind you'll need to get back in touch with us to discuss things further.

Regards,
Matthew.

CCCS_Matthew

embrace1204 wrote: »

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!

I'll PM you!

Matthew.