A few last minute questions

WLITC

Okay, going to court next week. Have a few last min things to check.

What do I do with my Student loan? I know it can't be written off like the rest of my debts, but i'm assuming I need to include it on the form somewhere?

If I put my new Coop Cashminder account down, should I put a comment by it saying its for post BR use?

Finally, can someone clarify. I was under the impression that going BR or even just having bad credit no longer effected the whole address, but only the person concerened? yet on this IS webpage, under the section How is my address affected by bankruptcy? (2nd paragraph) it states it could effect the address. Is this just outdated info?

Cash_Waster

welshladinthecity wrote: »

Okay, going to court next week. Have a few last min things to check.

What do I do with my Student loan? I know it can't be written off like the rest of my debts, but i'm assuming I need to include it on the form somewhere? Student loan should be listed on the creditors page with the rest of the debts. The OR will not deal with it and you should carry on paying it as normal. I think I'm right in saying you can claim for it on your SOA.

If I put my new Coop Cashminder account down, should I put a comment by it saying its for post BR use? Can do it wont harm it, usually you speak to somebody on the day like a OR clark or something who asks you a few questions re living expenses and bankaccounts that you need to leave open.

Finally, can someone clarify. I was under the impression that going BR or even just having bad credit no longer effected the whole address, but only the person concerened? yet on this IS webpage, under the section How is my address affected by bankruptcy? (2nd paragraph) it states it could effect the address. Is this just outdated info? It should only affect you but if you have any financial ties in these addresses then they will show up.

Hope that helps abit, not sure about the address one to be honest

WLITC

Cash_Waster wrote: »

Hope that helps abit, not sure about the address one to be honest

thanks, I think the address reference must be old.

Quick question about payments to crediors. I didn't decide to bring forward going BR (to next week) until earlier this week, by which point my big credit card payment had already gone out of my account. Since then I've cancelled the remaining DD's and sent off token payments letters and cheques (both for a £1) to two other creditors who are due to be paid early next week.

I also have one other large creditor due on the 11th. I originally planned to go to court on Wed 10th, so wasn't going to bother with that one, but I had to change my day off and now going to do it on Fri 12th. Should I just leave the payment on the 11th fail (DD is cancelled already) or should I send them a token £1 payment too (even though they may not process and cash the cheque before I file for BR) just to be sure that I'm not seen to be giving preferential payments to a few creditors??

Tobiwan_Kenobi

Don't pay any of them anything - You're about to go BR!!!!!!!

debtinfo

Although as you all know, officially it does not harm other peoples credit rating, but it can cause problems for things like insurance etc etc

philnicandamy

Just in the middle of adding an extra bit & you beat me to it DB!

I must try harder!!!!!

WLITC

Tobiwan_Kenobi wrote: »

Don't pay any of them anything - You're about to go BR!!!!!!!

Okay! Its funny, its hard to let go. I feel so bad about the idea of not paying them. I've been an model customer in terms of paying and have taken pride in the fact that I have never missed a payments or gone over my limit, etc so to just have to let go and let the accounts default feels bad and makes me uncomfortable. When I started thinking about going BR a few weeks back I didn't think I would feel anything except relief, but I'm starting to feel the guilt creeping in already and technically I haven't even missed any payments yet (that'll change next week).

philnicandamy

Guilt is natural everyone goes through it...but you've nothing to be ashamed of you carried on as long as you could & thats a GOOD thing

Tobiwan_Kenobi

The guilt is difficult, but BR is there when there are no other options. I guess that's why a lot of people go for IVAs, as they really do want to do their best to pay back debts they have incurred. However if you're going BR you really need to stop paying anything to anybody.

WLITC

Tobiwan_Kenobi wrote: »

The guilt is difficult, but BR is there when there are no other options. I guess that's why a lot of people go for IVAs, as they really do want to do their best to pay back debts they have incurred. However if you're going BR you really need to stop paying anything to anybody.

I know, its just not easy. I'm sure once it happens (I default on the payments) then I'll soon get over it. But cancelling the DD's made my stomach churn. As for payments. So is the whole £1 token payment idea only really applicable if your planning a DMP or negociating with creditors and want to show them you are willing to pay something, even if its just a £1? So should I even bother contacting my remaining creditors to say I can't pay, or should I leave DD payments fail and just leave them send a letter or call?

dojoman

As soon as you miss any payments the phone calls and letters will start, it does not matter what you tell them they will continue to contact you anyway. I like you and most of the others felt the guilt/shame whatever you want to call it. Never missed a payment, never went over limit and ran my accounts faultlessly,
but boy does that matter to your creditors? not one bit, I was surprised at how aggressively they pursue you even when you have only missed one payment, and it was this and their attitude which helped me to forget the guilt, although it is not something I am not and will never be proud about.