Ask a CCCS counsellor a bankruptcy question

CCCS_Sarah

oregonuk1 wrote: »

To Sir,madam


I am going bankrupt next month because this is the last month I can pay my one of my debts and I want to do it before I start getting calls asking why I have not paid I have been living on what friends can give me and only get £257 a month JSA which can be cut at any time and with my mental health problems it could be years before I get a job the cab says it is fine to go bankrupt because you can no longer pay after this month but the national debit helpline just pay each creditor £1 now why would I want to rack up more debt and get phone calls CCJ and have bailiffs coming to my Parents house taking there stuff which is nothing to do with me and my stuff this would just cause more mental health problems for me I just want to go bankrupt and get it over and done with.


Thanks


Oregonuk1

Hi Oregonuk,

If you are going bankrupt you would just need to make your creditors a goodwill gesture payment of £1 and save the money for your fees. You would only get a bailiff if you had a county court judgment and you didn’t pay this. As you are on JSA you should be eligible for a reduction in the bankruptcy fees. The full amount to go bankrupt would be £510, however if you complete a form called an EX160A you would be exempt from £150 of this.

Good luck and if you have any further questions please feel free to ask.

Sarah

oregonuk1

CCCS_Sarah wrote: »

Hi Oregonuk,

If you are going bankrupt you would just need to make your creditors a goodwill gesture payment of £1 and save the money for your fees. You would only get a bailiff if you had a county court judgment and you didn’t pay this. As you are on JSA you should be eligible for a reduction in the bankruptcy fees. The full amount to go bankrupt would be £510, however if you complete a form called an EX160A you would be exempt from £150 of this.

Good luck and if you have any further questions please feel free to ask.

Sarah

To Sarah

I have my £510.00 that was gave to me by a friend and i at least have that in place so do not need to save.

Oregonuk1

philnicandamy

I personally wouldnt bother with token payments if your going bankrupt...no point....half the time creditors wont accept anyway

gem4

A friend of mine is thinking of offering a roof over the head of their friend who is just about to become bankrupt. Her husband has niggling misgivings incase it affects their own credit rating or they are connected with any of his debts.
Would the debts of someone not related to them affect the credit rating or standing of my friends if he were to lodge with them?
He would be homeless otherwise. It would only be a temporary housing solution. They own their own house and are not claiming benefits of any kind.

mysterio_2

gem4 wrote: »

A friend of mine is thinking of offering a roof over the head of their friend who is just about to become bankrupt. Her husband has niggling misgivings incase it affects their own credit rating or they are connected with any of his debts.
Would the debts of someone not related to them affect the credit rating or standing of my friends if he were to lodge with them?
He would be homeless otherwise. It would only be a temporary housing solution. They own their own house and are not claiming benefits of any kind.

Bankruptcy is a personal thing....wont affect anyone else or their address

Susie54_2

Hello, I had an interview with CCCS on Friday who were really helpful and spent over 3/4 hr on the phone to me going through numbers etc. The short answer was that going bankrupt was really the only option - I'm self employed as a sole trader and with an average monthly income of £200 and repayments at £654:o. She did talk about the BR procedure but tbh, my head was spinning by the end....

My question is - what the hec do I do now, how do I start? I'm starting to get phone calls from mbna every couple of days, sometimes before 8.30am which is driving me crazy. I was also told about CCS's bankruptcy support service but have no idea how to access it!
Thanks for any help
Susie x
PS - Is my stock at risk of being sold as an asset - there is approx £4,000 worth with the most expensive single item less than £40

ash5896

hi sarah

thanks for ur reply
i have lived with my girlfriend ever since she bought the house,approx 2 years which was bought with al her own money etc. i had to sign some agreement that i dont have interest in the property or something along those lines. i have never paid towards the mortgage or had any debts with her she is debt free and it looks as if because of my disabilty and worsening health she may even have to give up her job to take care of me too.

the only unofficial agreement we had was that i would pay a share towards domestic bills which i have paid on and off mainly gas bill.
the other problem i have now got is my employer has agreed to pay me notice pay (3months) but the money is paid to a bank that i owe money too and my employer isthe bank in question so whatever they will pay they will take back.

unfortunately none of my ppi policies etc will pay as my disabilty was a pre existing condition they wont pay out. i have written to all my debtors but they not interested im coming to a point now where i cant sleep and think. my health was worrying me now the banks they were fine while i paid my debts and now i feel like no one cares. once your ill your on your own and because of my debts my girlfriend may have to pay the consequencies and lose her house because of me. please anyone help with any advice would be greatly appreciated. my girlfriend is willing to pay the BR fees but is scared in case they want her house. dont know anymore feel like i could end up osing evrything. can someone please point me in the right direction

50broke

Please could someone help. I am on a DMP with CCCS, but my husband has just lost his job and at 55 is finding it impossible to get another, therefore we are unable to pay the DMP. The house and debts are all in my name, and if I should consider bankrupsy what will happen to the equity in my house (approx 60K), my debts are 93K unsecured with a 207K mortgage. Any advise would be appreciated. We are trying to sell the house at the moment.

loopylou

I hope somebody can advise me regarding my son.

He is divorcing his wife due to her unreasonable behaviour and has been living me with since the spring. His net income is about £1300 pcm out of which he is still paying the full mortgage of approx £1200 leaving him very little to pay for his car and living expenses. She is still in the marital home with their two children. She has indicated to her solicitor that she will pay half of the mortgage money to him (it is in both names) but as yet he has not seen a penny from her. As a result of this I am having to fund him each month.
His main aim is to be able to move into a rented property so that he can have access to his children as she will not allow them here...(her way of getting back at him ) but without money this is not possible. He has been advised that his best option would be to go bankrupt which will then free up his income to make a home. He has always been a very hands on father and not seeing them is causing great distress. He does not want to avoid his responsibilites regarding the children and is now at his wits end. The only other debt that he has is an overdraft with his bank as he has always tried to avoid credit cards. They owe the bld soc about £140000 but she refuses to even consider selling the house.

thank you
loopylou

CCCS_Matthew

Susie54 wrote: »

Hello, I had an interview with CCCS on Friday who were really helpful and spent over 3/4 hr on the phone to me going through numbers etc. The short answer was that going bankrupt was really the only option - I'm self employed as a sole trader and with an average monthly income of £200 and repayments at £654:o. She did talk about the BR procedure but tbh, my head was spinning by the end....

My question is - what the hec do I do now, how do I start? I'm starting to get phone calls from mbna every couple of days, sometimes before 8.30am which is driving me crazy. I was also told about CCS's bankruptcy support service but have no idea how to access it!
Thanks for any help
Susie x
PS - Is my stock at risk of being sold as an asset - there is approx £4,000 worth with the most expensive single item less than £40

Hi there.

First of all, wait for your advice booklet to come through.

If you've discussed bankruptcy your advice booklet will explain the process in much more detail and you'll be more familiar with the process. It will also give you the information about the bankrutpcy support service.

In short though, if you've made the decision to go bankrupt you need to contact your local county court to get the forms (or do it online if you prefer) and also think about getting the fee together. In theory, once you have the money together and the forms are filled out you can contact the court to book in your hearing. If you haven't already done so, stop paying your creditors anything more than a token gesture payment.

If you are going to continue trading with your business, then the official receiver should not take your stock into consideration. You will need to declare the stock to make them aware of what you have. If you are not going to carry on with the business I suspect the official reciever could consider taking any stock if it was considered valuable.

Hope this helps,
Matthew.