Guide to wiriting reasons for bankruptcy

pinksnapdragon82

Thank you so much for this post, I am on the final part of filling in my forms and needed a bit of help.
Thank goodness for the Search button
Off to take out some waffle and add some dates

pixiechick_2

This is a great thread. Thanks Bethandkim.

I'm thinking that I may have to petition for bankruptcy within the next few months. I have credit card debts on 6 different cards and I've had some of these cards for years and haven't got a clue when I got them. How can I find out? I have also got a couple of credit card accounts that I haven't used for a long time. Do I need to include these as well?

Any advice would be very much appreciated as I am still at the very early stages. I haven't defaulted on any payments as yet and actually have £27,500 credit available to me on various cards. I already owe about that amount (no mortgage) and enough is enough.

ton1

pixiechick wrote: »

This is a great thread. Thanks Bethandkim.

I'm thinking that I may have to petition for bankruptcy within the next few months. I have credit card debts on 6 different cards and I've had some of these cards for years and haven't got a clue when I got them. How can I find out? I have also got a couple of credit card accounts that I haven't used for a long time. Do I need to include these as well?

Any advice would be very much appreciated as I am still at the very early stages. I haven't defaulted on any payments as yet and actually have £27,500 credit available to me on various cards. I already owe about that amount (no mortgage) and enough is enough.

I had 7 credit cards & rang each every one to find out the exact date I had originally got them & the information was quickly given without any fuss. I have since heard even an approximate date is ok. I would include all accounts even if not used for a long time.

pixiechick_2

Thanks ton1. Don't know why I didn't think of something so simple! Probably because I'm thinking of a million and one other things!!

auldblerk

Thanks for info and, although I haven't reached that part of the form yet, I have a major problem with it and the clocks ticking away to the Court date. I hate to admit it but my debt problem goes right back to 1992, been in debt since then and escalated to this point (meltdown). I've just about had every credit card in existence and swapped and changed and shuffled them about like a pack of cards. The loan I had with, my then local Bank, I kept topping up just about every year or every other year so that would take some fathoming out. Don't get me wrong, I'm not trying to hide anything from the OR, Judge or whoever but that section is going to be hard to fill in.

punksluck

Thanks for the info. I have a very close friend who is seriously contemplating this but doesn't have a clue how to go about writing the letter. I'll pass on this valuble information.

debtinfo

ton1 wrote: »

I had 7 credit cards & rang each every one to find out the exact date I had originally got them & the information was quickly given without any fuss. I have since heard even an approximate date is ok. I would include all accounts even if not used for a long time.

When writing this section it is often worth having a think what the OR will be looking at from their prospective. For example, is it going to bother the OR if the loan or creditcard was taken out on 02/02/2001 or 03/02/2001, probably not. Conversely is it going to bother the OR if you took the loan or creditcard out on 02/02/2001 or 02/02/2010, obviously in this example with the second date being very recent it matters more that it is more accurate

bluebells_2

What a fantastic thread i am almost done with all mine just trying to sort out the dates but as it was 6 years ago that i started my DMP i had forgtten what dates were applicable . I have plenty of time well i think i do . I think i will post mine on here for you all to look at and you can give me your advice

lily79_2

This is great I have just down loaded the forms and was looking at this and thought how do i explain in plain english my debt but this is useful many thanks your a star

elliesmemory1

Thanks for this