Please help someone

Louise82_2

Im not sure if am posting on right place and have tried posting on dfw thread also.I am on dmp with payplan but now bank of ireland have written to me telling me that as they have receuved no satisfactory payment when are passin my account to solicitors to start bankruptcy or judgement proceedings. I really dont want to be bankrupt as im fine to be able to pay the dmp of 360 a month between al my creditors and lots of them have accepted. What can i do. If they make the petition will i be automaticlly be made bankrupt

philnicandamy

Have you contacted payplan to see what they say?

Louise82_2

no not yet as only got the letter yesterday an payplan dont open again until tmrw , im just feeling physically sick cos bankruptcy was never an option for me nor do i want it. I understand its best thing for many people but i simply dont want it. Even though i have no assetts i rent my home and my car is worth about 600 quid if even. I am paying them 67 a mnth of a 5500 debt now i know it isnt much but at least its something

blind-as-a-bat_2

Louise82 wrote: »

Im not sure if am posting on right place and have tried posting on dfw thread also.I am on dmp with payplan but now bank of ireland have written to me telling me that as they have receuved no satisfactory payment when are passin my account to solicitors to start bankruptcy or judgement proceedings. I really dont want to be bankrupt as im fine to be able to pay the dmp of 360 a month between al my creditors and lots of them have accepted. What can i do. If they make the petition will i be automaticlly be made bankrupt

No, it is not that simple, but will depend on many factors, such as if you apose the petition.

Im not sure if there is a differance in, but can you confirm where you live? (just the area of the country, obviously )

Louise82_2

I live in the North of Ireland. Im 27 years old and have about 23 k of debt all unsecured. I contacted payplan and have just paid them my 2nd month of dmp payment. I have 11 creditors and pay 360 a month between them all. 67 of this is to bank of ireland, i really thought it would have been something. They asked me to call them. Should i do this

tigerfeet2006

The BR rules a different in NI, I'll find the no. for CCCS in NI.

Here we go 0800 027 4990

Louise82_2

thanks very much, i just really dont want to be made bankrupt

blind-as-a-bat_2

Right, i only know the BR system, and related debt laws for england and wales, I know N irland is a bit strange as it is part of england, sort of, but not in all ways, so im not 100% the same rules will apply.


But the defanition of insolvent should be the same.

If so, i would doubt the threat of BR is anything more than a threat.

You dont give any details of income, but it is doubtfull they would get anymore by making you BR, as you have no assets, so my gut reaction is its just an empty threat.

If it is any help, i invited the LTSB to make my OH BR for not much less months ago, they ignored it;) sort of

there reply was to offer a 50% discount full and final.

they most likely know if you go BR they will see very little return, as in england it costs a creditor £1000-1500 to petition a debtor for BR, i cant see that being much differant in NI

Louise82_2

My income is 220 every wk, i pay 90 of this to payplan for my dmp and the other 130 every wk goes towards my rent and bills ie fone and electric and food, i leave myself with just enough to live on and by no means live an extravagant lifestyle, i literally pay every penny i can afford to pay my debts off

tigerfeet2006

I agree with Bat on this but you must contact Payplan first thing tomorrow and get their take on it.

blind-as-a-bat_2

Louise82 wrote: »

My income is 220 every wk, i pay 90 of this to payplan for my dmp and the other 130 every wk goes towards my rent and bills ie fone and electric and food, i leave myself with just enough to live on and by no means live an extravagant lifestyle, i literally pay every penny i can afford to pay my debts off

As i say, i can not be sure due to the fact i know the laws in NI differ, but i know for that amount of debt, with that re-payment would be acceptable in england, so doubt it is anything more than a bluff for you to increase your payment, i have a feeling payplan will say the same tommorow or whenever you get to talk to them.

Try not to stress, nothing will happen over night anyway, it can take months to get a creditor petiton to be heard anyway, so please try not to stress too much for now.

I cant guarentee it is a blufff, but over two years of expeariance says odds on it is;)