Ask a CCCS counsellor a bankruptcy question

CCCS_Matthew

daveyrunner wrote: »

Hello,

i am currently on the dole and in the moritorium period of a DRO. If I gain full time work what effect will it have on my DRO ?

Regards

Dave

Hi Dave.

I have just answered another question that asks the same thing. If you have a read of post number 886, that should answer things (just ignore the bit about the DRO fee).

Hope that helps!
Matthew.

ripley77

hI THERE, CAN SOMEONE PLEASE GIVE ME SOME INFO?My brother is FSA registered and is a banker, if his partner goes for bankruptcy or an IVA, Will it affect my brother? Any advice will be very much appreciated. Thanks

philnicandamy

Bankruptcy is an individual thing....the only way it would affect your brother is if they have any joint debts together

annie_plum

My Husband and I have debts in the UK of approximately 60,000 unsecured.
We do not have any in both our names as we have only been married a few years. We are currently living Turkish republic of Northern Cyprus but are both UK citizens.
We are not working (although we had hoped to which would have helped pay some of what we owe) but we could not get a work permit as my husband is 60 this year but my husband has military pension of £550 per month.
My husband was suffering from depression due to vast amount of Debt and was of sick for over three months, we lived in rented accommodation in the UK until early this year but I have an apartment in my name worth £45000 here with no mortgage.
We do not have any other assets. We could apply for bankrupty separately as the debts are separate and not in joint names?
I know we should have stayed and dealt with our debts but I was too worried about my husband mental state so we did something out of character for us and run away from them.
We can not come home as we have no where to live and no jobs and could not live on my husbands pension in the UK can you advise what we should do as we dont want to lose the only thing we have left which is our apartment.
Having read some more threads what I did not even think of is who would rent to out of work 60 year old bankrupt we tried to get on the council before we incurred so much debt and they said we was wasting our time and we both had jobs then.

MITZIW

just had a letter from northern rock wanting to send a fieldagent to vist us todiscuss our arrears if we dont contact them within 7 days. they say they havent had a response to letters and phonecalls but i did write to them saying that we would pay off some arrears as soon as oh gets paid for some invoices he hasjust put in (little lie obv) not sure what to do as if i speak to them they want dates of when we can make anext payment (we are saving to rent) it also says if we refuse to meet with them they will charge us £47 which will make no difference at all but does this mean if we turn them away at the door or how elae do we refuse? and if we refuse they have no alternative to progress to legal action. any advice pleaseas we havent all the money saved yet to move out.

CCCS_Sarah

annie_plum wrote: »

My Husband and I have debts in the UK of approximately 60,000 unsecured.
We do not have any in both our names as we have only been married a few years. We are currently living Turkish republic of Northern Cyprus but are both UK citizens.
We are not working (although we had hoped to which would have helped pay some of what we owe) but we could not get a work permit as my husband is 60 this year but my husband has military pension of £550 per month.
My husband was suffering from depression due to vast amount of Debt and was of sick for over three months, we lived in rented accommodation in the UK until early this year but I have an apartment in my name worth £45000 here with no mortgage.
We do not have any other assets. We could apply for bankrupty separately as the debts are separate and not in joint names?
I know we should have stayed and dealt with our debts but I was too worried about my husband mental state so we did something out of character for us and run away from them.
We can not come home as we have no where to live and no jobs and could not live on my husbands pension in the UK can you advise what we should do as we dont want to lose the only thing we have left which is our apartment.
Having read some more threads what I did not even think of is who would rent to out of work 60 year old bankrupt we tried to get on the council before we incurred so much debt and they said we was wasting our time and we both had jobs then.

Hi Annie,

Thank you for your message.

I would recommend that you both have an appointment with the CCCS to discuss your options. If you are calling from abroad the number would be +44113 2970126. If you own your home outright then this would be classed as an asset so it is likely that Bankruptcy would not be your best option. During your appointment a counsellor will help you complete a detailed budget and look at all your options.

Sarah

CCCS_Sarah

MITZIW wrote: »

just had a letter from northern rock wanting to send a fieldagent to vist us todiscuss our arrears if we dont contact them within 7 days. they say they havent had a response to letters and phonecalls but i did write to them saying that we would pay off some arrears as soon as oh gets paid for some invoices he hasjust put in (little lie obv) not sure what to do as if i speak to them they want dates of when we can make anext payment (we are saving to rent) it also says if we refuse to meet with them they will charge us £47 which will make no difference at all but does this mean if we turn them away at the door or how elae do we refuse? and if we refuse they have no alternative to progress to legal action. any advice pleaseas we havent all the money saved yet to move out.

Hello,

Is this relating to a mortgage or personal loan? Would you be able to give me a bit of background information please?

Thanks
Sarah

MITZIW

its a mortgage. we are already in arrears but were paying an agreed amount each month (a couple of pound over mortgage amount to go towards arrears) but have now missed jan and feb payments. we are trying to save to rent a houseand let the house be reposessed but need as much time as possible. then we will save to go br (we have a secured loan with firstplus and unsecured debts).

CCCS_Sarah

MITZIW wrote: »

its a mortgage. we are already in arrears but were paying an agreed amount each month (a couple of pound over mortgage amount to go towards arrears) but have now missed jan and feb payments. we are trying to save to rent a houseand let the house be reposessed but need as much time as possible. then we will save to go br (we have a secured loan with firstplus and unsecured debts).

Thanks for the reply.

If you are wanting the house to be repossessed you could find somewhere to rent stop paying the mortgage and arrange to hand the keys back to the lender – this is known as voluntary repossession. If you went down this route you would be liable for the buildings insurance and council tax until the house is sold at auction. If the house is unoccupied contact the council as they may give you a reduction in the council tax.

I would recommend that you come for an appointment with the CCCS, we have a specialist mortgage counselling team that will be able to discuss this in detail with you and also talk through all your options.

If you would like an appointment please call our helpline on 0800 138 1111.


Sarah

MITZIW

thanks i have had my phone appointment with cccs so will give them a call tonight if i can.