Ask a CCCS counsellor a bankruptcy question

CCCS_Sarah

fool_with_a_pen_75 wrote: »

Hi

Hope someone can give me some advice.

I am due in court next week following a 3 yr legal battle to disassociate myself from an old employer, unfortunetly I guaranteed various things (understanding it to be my name as a Company Director on behalf of the company when in fact I was giving personal guaranatees-niave, stupid, sucked in! Cutting a long story short I left company (disollusioned with management) and have spent the last 3 yrs to remove my name from guarantees without success. Company has been run into the ground by other Directors and I am now being made bankrupt by a loan they have defaulted on.

My question, I need to insure that the 2 other things that I am guarantor on will be wrapped into my bankruptcy, I have been advised that this is sometimes possible. As they are deemed potential creditors? Is this correct and how should I go about insuring that my OR (when appointed) will include them.

Really hope you can help, as you can imagine been to hell and back in last 3 yrs and now need to make sure that this does not happen to me again.

(The only way my name could be removed is if the other Director agreeded to it, and provided a replacement he owes me a lot of money; which legally I have tried to recover, to no avail; and is refusing to even get in contact, I am stuck in a legal nightmare!) So the above is the only way to enable me to move on otherwise I fear that I could be made BR again and again on the remaining guarantees.

Many thanks in advance.
FWAP

Hello,

I would recommend you speak with another charity called Business Debtline, they deal with business and personal debts so they will be able to give you detailed advice. I have added their contact details below for you.


http://www.bdl.org.uk/ 0800 197 6026

Sarah

CCCS_Sarah

weebop88 wrote: »

i am on a debt management plan with yourselves and have been since july. the only problem is now that i cant really afford to make the payments and some of my creditors are still ringing me and threatening court action even thow they have told yourselves they agree to the payments. I have just been diagnosed with depression an the doctor has advised me that it is down to all this.

I was thinking of declaring myself bankrupt but dont no how i would even save the money i need to do this. or how to get the forms tried to get an appointment with citizens advise beuro but cant get an appointment until after xmas

who else can i go to for help looked into a debt relief order but they do not offer thenm in northern ireland yet i owe less that £15000 and i am claiming job seekers allowance

please help me

Hello,

I have just contacted our NI office and they have recommended that you call for a review. I will send you a PM with their telephone number and if you ask for Claire or Myra.

Regards
Sarah

shazbo

hi can someone please help. my husband and i were declared bankrupt at the end of july and things have been going ok but now my husband has had a lucrative months pay and we need some of it to pay for extras and christmas but when i spoke to the OR they said they couldnt tell me if we can keep any of the extra money ( the CAB said the OR would take 80% max) and we have nothing put by for christmas at all and a few things to pay for that we just cant manage in our budget. My question is will they take all the extra money or are we likely to be left with some?

After speaking to them today i feel sick with worry and stress please help me understand what the likely outcome could be, is the CAB on the right track?

manaquin

Hi there

i actually have an appointment next week to speak with a business debt advisor at CCCS but i had some things on my mind to ask.

firstly, my business is not making enough money in my opinion, as i have been trading since end of jun 09, and 2 months of that recently i became ill and hospitalized. Ive just been discharged yesterday but cant do what i used to do.

ok, the first issue i have is that im 2 weeks behind on business rates. Now my business is a franchise and basically they are looking to take over my affairs in veiw to selling it at a reduced price, but this is obviously gona take time, and personally, i dont see the point of me slipping into more debt.

im worried about the business rates as im unsire what the process is, can i be sent to prison for non payment?

Also hypotherically, if i did go the bankcrupt route, if an ipo was given, the 'reasonable' living costs allowed, RE rent, i currently rent a room in a house( i have no major assets apart from the business), but my landlord who lives with me may want his house back. the ave rent for a single bed in manch is about 400-450, so would they deem this as reasonable or are the expecting me ti live in a council property? I didnt see any thing in the guidlines about having to live in council or ha property so im assuming this is reasonable. can an ipo be altered later if im having to move/ circs change>

thanks

jojo1985_2

i have had an appointment with cab and going for a dro, all is good apart from the bank account situation. Well my cab advisor says that i will be able to keep my bank account ( it has an overdraft) the account is with natwest but i have a credit card with them that will be cleared with the dro, the advisor said that they won't close my account because of this. Now on these forums im being told this is not the case and i could (at worst) be done for fraud. i really need some professional advice please.

i have applied for a co-op cashminder and been turned down and the only other available is barclays...but i am including barclaycard debt on the dro...will this matter?

if i can't get that im at a loose end, i need a proper bank account! Benefits can be paid into a post office account but h/benefit can't and they only give you crossed cheques, my local council won't cash them there so i can't receive it!

HELP!

messenger_2

I am trying to find some answers for a person I know from work. He went bankrupt in June'07 for £40,000. He owns a house-mortgaged. He is afraid, his house will be put on sale as a result of this at the end of 3 yrs(by June'10). What will happen to his house?. Should he submit a valuation for his house? or will it be valued for him?
Thank you

Daveymilo

How long does the bankrupcy process take? And if im bankrupt and my parents buy me a car as a gift am i allowed to keep it?

candie1

Hello My husband and i went bankrupt friday 13th nov, the order was made. we have a telephone interview in a few weeks. We were given proffesional advice regarding our debts to go bankrupt. We were told we are in negative equity. All our unsecured and secured debts including mortgage are up to date regards payments and i have never missed a payment,although some weeks we could not even afford a loaf of bread. I am just worried now we could loose our home could someone please help. Thankyou

links26

Hi there, hope someone can give me some guidance with this.

Am looking at declaring myself bankrupt as am currently out of work and on jobseekers with little to no spare money for creditors.

My concern lies with money I had in a couple of savings accounts for a few months of last year - basically a friend of mine sold a house and the proceeds were put into savings accounts that I opened in order to earn more interest (he's a higher rate tax payer) - the money was then returned to him including all the interest when he bought another house.

Obviously I'm a bit worried that if I declare myself bankrupt I'm gonna have to explain the movement of large amounts of cash (we're talking 6 figure sums) in my recent financial history even though none of the money was technically mine. If I can prove through statements where the money came from and where it's since gone will the OR see that it was never really my money? or will they deem that I have some kind of interest in the new house?

Many thanks.

PH1LL

Hello,

I will be going bankrupt, i lef tmy ex wife, am not divorced yet. She is paying the mortgage and living in the property we jointly own, its in negative equity - about 10k i want her to buy my BI.

2 things - Is there any chance of her being refused the option of buying my BI?

and Will the mortgage provider be informed, if so will they force her to renegotiate a new mortgage? (its 110% mortgaged and about 5.5 times her salary) she has been paying it alone for months now and compltely up to date with the payments.

Many thanks

Phill