Saving for bankruptcy - how much time do I have?

carrie6874

Hey folks,

I decided to go br a few months ago after a year of struggling and total financial misery, so I have stopped paying any token payments to my creditors to save for the fees. Now the barrage of phone calls (my landline's on silent so I can ignore the 10-20 calls a day) and nasty letters has really escalated. The letters are all along the lines of 'this is your last chance to pay before we take you to court' etc.

My question is....how long do I have before they actually do start to take me to court? I really don't think I will have saved up the br fees until November, so am aiming to go br on Nov 1st. Is there anything nasty they can do to me in the meantime?

Any advice please....?

peachyprice

Are the debts still with the banks/cc companies or have they passed them to debt collection agencies yet?

If they're still with the banks etc., you'll have quite a while, at least 6 months I would say.

If they're with DCA's youre likely to still have plenty of time, quite often when one DCA has no luck getting anything out of you you'll get sold on to another.

antarctica

best call cccs or national debtline for help then they'll give you a reference number and you can tell the creditors that you are dealing with your debts and give them the ref. this buys a bit of time.

jasper00_2

I stopped paying over 12 months ago and other than letters and calls...not a peep. I get loads of threats of court action and home visits, but, touch wood, nothing thus far.

P.S I'm booked in for next month.

Flowerpot_2

Depends really - my OH had stopped paying his creditors for over a year before he went BR. I on the other hand continued with 'token payments' (before I stopped paying altogether for the last 3 months) before I went BR - the pressure/relentless phone-calls/threatening letters etc., were the same in both instance
MBNA eventually served a CCJ on my OH hoping to get a Charging Order on the house but he went BR before it could go to Court (& we're in negative equity anyway so they were wasting their time, a******s!)
FP x

stanley38

just take the money from your account.....

once bankrupt not much they can do

carrie6874

Thanks for all the replies, feel a bit better that I've got some more time to save up!

Antarctica - I phoned cccs few months ago, they were the ones that suggested I go br. I did tell all my creditors about it when I went against the cccs advice and offered them token payments, - some were really good about it, while others (damn I hate the halifax!) were completely unimpressed and continued with the, basically, harrasment. It was after a particularly harrowing phone call from a hateful lady from Moorcroft that I thought why am I struggling to pay them and yet still having to deal with the nastiness from the collection agencies. I'm now just never ever answering a creditors call and filing all the letters away with a smile and a hand gesture...counting the days till I can be debt free with a fresh start! Just bit worried about the threatened home visits.....wish I had a dog...!!

stanley38

unfortunately money is a nasty business always has been always will be,

personally don't give them the time of day.

Banks are horrible nasty creatures preying on the vulnerable,

i will be going BR very very soon, they have no knowledge of this...

they still try to offer me credit but soon i will be wiping them

from my life. Banks deserve no mercy. Greed is what drives them.

so feel no sympathy....

stanley38

once i'm BR and they try and contact me i will be very rude

So_Sad_Angel

stanley38 wrote: »

once i'm BR and they try and contact me i will be very rude

Actually I stopped paying May08....over a year now & the original lenders have sold on the debt very quickly so now I have no idea who I pay my £1 a month to !

Not paid even a £1 this month....god knows who I am supposed to be paying.

Just get advice from the charities Carrie if you need it & think nothing will happen before November.

Good luck

Angiexx

Flowerpot_2

carrie6874 wrote: »

Just bit worried about the threatened home visits.....wish I had a dog...!!

Don't worry Carrie they're bluffing.... we had loads of those (which sent me into a blind panic) just another one of their ploys to get you to phone them so they can bully you into giving them money you don't have :rolleyes:
FP x