being made Bankrupt

bekki35

Hi Guy's

Would like some advice, if anyone know's.

I am being made bankrupt in September. Not delcaring bankruptcy. i cannot make the hearing as am out of the country on work commitments. the court know this and have said I do not need to be there.
What I would like to know is how long does it take for the OR to contact you and what information do they ask?

Hope someone can help!

Thank you

Bekki

fiveyearplan

The OR should contact you within a couple of weeks.

peachyprice

Hi Bekki,

Can I ask who is threatening to make you bankrupt. If it's a bank or credit card they're likely to pull out at the last minute or ask for the case to be adjourned.

I wouldn't want for you to be relying on it and for it to not go ahead. There are a number of members here that have been in this position, for none of whom the BR has actually gone through.

maxmycardagain

only HMRC would make you BR, and then only if they knew you had assets

philnicandamy

Not always max....could me AMEX Council Tax...

fiveyearplan

Could be an individual petitioning their BR, like a landlord or someone.

Bleddry

Are there rules about the process of debt collection that banks need to adhere to?
I mean, can they spend months/years chasing you via their in-house debt collection agents, then pass your account to their in-house solicitors who threaten legal action within 24 hours, only to send another letter threatening you with their debt collection dept. again? Is there not a time frame for legal action pursuits? Surely if they say they will make you BR, they should have to see this action through - or drop the case? Persisting when it's clear there is no hope of the individual being able to pay, is harassment. Or maybe there is an EU human rights law - they seem to have one for everything else?

peachyprice

Unsecured debts become statue barred after 6 years, as long as you do not make any payments or acknowledge the debt in that time. For mortgage/repossession debts it is 12 years.

Bleddry

But torture is illegal in this country - and this is a form of psychological damage that they are inflicting on their victims (even those debtors that are to some degree responsible for their current situation, it is surely unacceptable behaviour?). Either go through the process and BR that person, or drop the case. It's like a child pulling off the wings... and then the legs... and finally the spirit of a helpless butterfly.
Happy Bank Holiday Everyone!

morty1963

while peachyprice is correct re mortgage/repossession debts it is 12 years, the council of mortgage lenders (CML) have agreed on 6 year ruling as the norm