Bankruptcy the best option?

jen_jen_2

opps n245, it means saying to the court, this is my income and expenditure and this is what i could afford to pay, so yes paying the ccj that is threatening you.

i put myself if the place of the creditor and i want my money, i already have a ccj and so i can ask bailiffs to come round, garnishee again (although its changed its name) or other options eg attachment of earnings but you dont earn a wage so wont be effective.

the n245 is a pre-emtive strike, you make an arrangement through the court and then as long as its maintained they cannot enforce the judgement by other means, eg bailifffs.

it is not guaranteed that the court will accept your offer but are likely to be more understanding that the creditor. other options are to ignore the threats and see what happens.

im not criticizing about the soa, and i understand things are difficult, change of lifestyle etc but if you read some of the other posters threads about what they change and their mind set you will see that there is lots more you could cut back on without losing out

clairus99

Firstly, let me say please don't read this is the wrong tone. I'm not having a go at anyone, so if you take it that way, you're taking it wrong!!!

I admit that the amounts seem "silly" and small in comparison to some of the debts I've seen on here, but they're my debts and f£$%ing life-halteringly huge to me. I know you mean well, but that's how I feel!

By saying 10k is low for bankruptcy are you saying that the chances are they'll refuse it?

I'm not at university quite yet, I'm due to start this September... I don't think I've made that terribly clear, or if indeed it makes much difference!

I'm thinking of hanging on, as you say - I feel that's the only other option. There's no way I can tackle all of these within the next 4 years, plus living expenses as a student and then having my student loan afterwards. This is why I feel bankruptcy is going to give me the peace of mind and fresh start I need.

The harrassment I've had for years, on and off, bailiffs too, I'm well experienced on that subject!!

A lot of the bills are in the OH's (we're not married, does that make any difference? Does this affect him?) name - apart from the rent, that's just me. And my mobile is in my name, obviously. But I'll have a look over the other bills and check that out, thanks. The ones I'm in debt with are in my name, from before he moved in.

As I say, I don't even mind continuing my current bills as is (not sure if that's an option). It's just these old debts and CCJs I just want off my back.

clairus99

Well, I have thought about what happens if the OH can't support me and concluded that I'll cross that bridge should I get to it.

I have to say some of the money I've spent over the last couple of years have been spent on replacing washing machines (that's 2 brand new ones, hence wanting the insurance) and the fridge/freezer, and the OH's car and fixing cars. Touch wood, apart from my car we shouldn't need anything huge for the next four years.

I do intend to work whilst at uni, obviously I'll be a bit more settled and know what I'm doing.

I've been doing 2 courses this year, one of which was a weekly daytime one which stipulated a day a week work experience (teaching assistant). The course has just finished but with half a term to go I'm loathe to leave early, I don't think it's terribly fair on the kids I work with, or the teacher, or really myself. It's all stuff for the CV, as well, so I'm thinking of my future there! I'm still doing one that's two evenings a week, until the end of July.

I don't want to go into the ambiguous work situation (I have my reasons, trust me!) but the £ we earn goes 100% on debts and grocery shopping.

I've thought about deferring for a year but I feel that I'm going into uni at almost 38 years of age, coming out at almost 42 (I'm hoping govt will pay for last year of study as incentive to train teachers). Another year costs more at this age than at the normal uni entry age. I haven't been in permanent employ for 3 years now and I wouldn't be able to do the sideline stuff (I can't go into detail!) and what I did before that was a kind of unusual job that is not just hard to get but I don't believe I could do any more. I'm a bit limited on the type of work I can do as well, due to some problems that I don't want to go into here. It's nothing major, I'm not disabled (not that they're not capable, obviously, but it's only practical that a wheelchair user would probably find it hard getting work as an air stewardess), but, anyway....

Sorry, I know I sound a bit cagey and ambiguous here and there, it's really due to this being a public forum more than anything. And I'm kind of a private person anyway... which might account for me sounding defensive (for which I apologise, but I'm trying to be open!)

jen_jen_2

dont worry about sounding cagey, sometimes we just cant do the work we used know, there is alot to be said for not working 60 hours a week and managing to enjoy the simpler things.

you are obviously very stressed about your debt and yes bankruptcy would give you that "fresh start" and free from the worries of the debts coming back up again and again and again.

only your debts should be included, however if paying partners off as well maybe both of you should look at this time as sorting all of them out. check there are no clauses in your tennancy agreement and your housing benefit overpayments will not be included in bankruptcy.

the car you have just bought may be taken as an asset especially as its not used for work, and you will have to make your soa match, ie that what goes in matches what goes out, i also dont think the official reciever will allow payments to your brother over all the other creditors - you may have to "disguise" this as something else, all of your access to credit, cataloues etc will have to go too. perhaps a trip to local cab will help with some issues.
also remember that if the O R instructs you to make payments (although on your income i doubt it) they can last for 3 years.

£10k is not too low to be accepted, and mental health lack of stress is important. perhaps you can work on your soa, over the summer do some temp work to save up for the costs.

clairus99

Thanks for understanding.

My OH doesn't have any debts. He's far more sensible than me! I am named on his car loan application; oddly as a guarantor (there's irony...), prob because he's not on the rent agreement. I'm a named driver as well but I don't pay anything towards the car. I don't know if that counts but he just bought it for £1000 (3-4 weeks ago).

My car is probably worth about £450 at best, with the clutch on its way out - do you think they'll take that then? It's not new... in fact, it's the one I just sold my brother (complicated issue). Can't argue the work thing on it though! I do need it for work, but not necessarily work I'd want them to know about (hoping I haven't said too much....!). The damn PC is in my name, so I guess they'll want to take that too!

Do you mean I should check clauses in tenancy about bankruptcy? Oo-er! I half-expected the HB overpayments to not be included. To be honest, I'd be glad just to be rid of the CCJs and old debts; the ones I havent heard from in years, just to get closure, you know? I'm thinking the 2000 ones might be up for the statute of limitations thang, but don't want to get rid of paperwork now, just in case. So closure would be nice.

What you said about matching soa - point taken.

Brother payments - no problem can sort that out.

If the credit has to go, it has to go. Hopefully I'll have a chance to pay them off before bankruptcy.... if it makes any difference. I'm not trying to get out of current credit.

OR & payments - thanks for that, I'll keep it noted.

I don't disagree the SOA does need some work!!!

Cheers

clairus99

I've just been looking around the site a little and the other site that was recommended (thanks).

If I went to CCCS, would they recommend bankruptcy as the best option if they thought so? I've avoided them, to be honest, because I thought they'd just eke out every single debt I ever had, including those that didn't "need" to be paid off and make me pay them.

That's the only thing that scares me off them. Just being honest!!

Emmzi

They will want you to be totally honest about all debts, which seems only right.

They will discuss pros and cons of DMP, IVAand bankruptcy if you ask:)

I'd have a list of questions to hand.

clairus99

No point not being honest, sure.

I don't mind paying this lot back if I had any visions of being able to do it!

As you can see, things are stretched as they are. Believe it or not it looks like I'm actually going to be better off at university!

Addicted2Chocolate

if you do go bankrupt you must include all your debts, including any money owed to your brother or debts which are small and you think you can repay. All unsecured debts are included in bankruptcy (with some exceptions eg overpayment of benefits, fines issued by police or magistrates court etc). The whole point of bankruptcy is that creditors are treated equally. You cannot choose not to include family debts and repay them in preference whilst leaving your other creditors who will not be repaid. If you do so this is dishonest and may lead to trouble for you: eg you could be targetted for a Bankruptcy restriction Order.
Re the car can you proove he paid you the £450 for it (ie provide proof of you receiving the money from him), and that this was for value, and account for what you did with the money? If yes to all the above the OR may accept you no longer own the vehicle.
You refer to work you wont want the OR to know about. If you failto dsiclose some income you will be breaking the law. So please be honest. We have seen it all, escorts, strippers etc. Hope i have not offended! good luck.

tenderlady

Hi can anyone help me,i am 53 female and never ever been in debit,i left my husband about 4 years ago because of abuse,but i had to return to the family home owing to the fact that my ex beat my children up,i was married for 30years and was a person that had never been in debit.I now have been allocated the family home,and i had to sign all my shares,bonds over to my ex,as i agreed the settlement should be 50-50 owing to our long time together.when i left my ex i took only my clothes,i was working part time,and had no money behide me to live,i was ill,vunrable,and confussed,i was talked into buying a caravan to live in,knowing i was only on part time employment the person selling caravans told me he would sort it for me.I am now in so much debit i am scared,the caravan people,blackhorse repossed my caravan when i returned home,it was brand new,and it cost £15,500,but on a loan it went up to £24,000,now they have sold it to the caravan site for £3,000 and it was brand new,but they are trying to claim £10,600 from me.I have written to them and so has CAB but they chose to ignore everything we send them.I have occured other debits by trying to survive,now i dont know what to do,i have been thinking of bankruptcy.

I owe £10,600 to blackhorse they now served some kind of court notice on me
I owe £1,400 to RBS my overdraft
I owe £4,600 to RSB a loan i had to live
I owe 15% of the house sale to my ex
I owe £32,000 morgage left on my house
I owe £1,000 to a friend
I owe £800 to capital one

I only have benifits as an income,i cant work i am on DLA
any help or advice would be very much appreciated

tenderlady