shall i speak to creditors

lilibet1

Afternoon everyone

I was wondering if you could help me please;.

I am possibly going to have to wait for a few months while i save for br fees.

The question i have is shall i bother to speak to my creditors, or should i ignore them? The calls arent driving me too mad at the mo as im ignoring them. The thing is, is it right to not tell them what my plans are, and at the moment im not going into my local branch as i know the manager so well and she must wonder whats happened!!

If i dont communicate with them, what may happen in the next few months, will they send round the baliffs or similar, thanks in advance.

x

skylight

I would ignore them completely. Telling them of your plans (I feel) only encourages them to call you more often; they can get some money if they can break you.

As to bailiffs, no - they cannot send any round. These are only sent in as a last resort to a CCJ not being paid. They *may* send a debt collector; this is unlikely though as it costs money they cannot recoup, but it's not unheard of. This debt collector has less power that a chocolate tea pot in a coffee shop so tell them to bog off and do not let them in. Under any circumstances, do not let them in. Need the loo? Tough, there's a tree. Need a drink? Tough.

IF

Hi Lillibet, really couldn't have put it better than Sky!

lilibet1

Thanks both,

Im sure my neighbours must think im very popular as my phone never stops ringing, im quite confident in not answering it as i have made my decision, its just getting the reassurance that helps me so thanks for that.

Im saving for my fees at the moment and also saving for school uniforms and bus passes as they are due.

Will be in touch with another question soon im sure.

Thanks

x

IF

Just ask anything lillibet and take care x

dojoman

Just do as Sky says, it will save you time, money and effort. I informed all my creditors but it was a total waste of time, they just ignored what I was telling them

lilibet1

thanks everyone x

lilibet1

Afternoon everyone

I have been working out how long it is going to take me to save up for BR fees, and it looks like its going to be at least Sept before i have the money. Im also have quite alot of other big expenses at the moment (well big for me, sons bus pass and uniforms etc and car tax)

I have read lots of posts here regarding this but could you please try to reassure me if you can. Thanks in advance:

1) If you have to go BR because you are insolvent does it matter if you dont do it immediately, i.e. as soon as you cant get credit anymore and your credit score is dreadful. Or can you wait until you feel emotionally ready to deal with it and financially i.e fees?

2) I live with my husband the house is his name and we arent financially linked apart from a building society account with a small amount in it. I have taken advice about the BI thingy, but should i take my name of the building society account so that he can disassociate himself from me so his credit score isnt affected?

3) I can manage the phone calls at the moment, and would like know if anyone thinks that they will get worse as time goes by. Are they likely to take me to court in the next six months or so.

I appreciate your help so much and im sorry if some of these questions have been answered elsewhere.

Many thanks

X

sizzler

lilibet1 wrote: »

Afternoon everyone

I have been working out how long it is going to take me to save up for BR fees, and it looks like its going to be at least Sept before i have the money. Im also have quite alot of other big expenses at the moment (well big for me, sons bus pass and uniforms etc and car tax)

I have read lots of posts here regarding this but could you please try to reassure me if you can. Thanks in advance:

1) If you have to go BR because you are insolvent does it matter if you dont do it immediately, i.e. as soon as you cant get credit anymore and your credit score is dreadful. Or can you wait until you feel emotionally ready to deal with it and financially i.e fees?If you go BR you must be insolvent and have taken advice from one of the charitys. Once you have made decision you should proceed, may take time to save for fees, but once you make the decision stop paying your un secured creditors and this will help get fees quicker. Also be very carefull not to take credit or spend during this period apart from essentials.

2) I live with my husband the house is his name and we arent financially linked apart from a building society account with a small amount in it. I have taken advice about the BI thingy, but should i take my name of the building society account so that he can disassociate himself from me so his credit score isnt affected?Your husbands credit will not be affected by your BR. With ref to house you are still married and hence linked to property and the officail Receiver will still take 50 percent of the BI.

3) I can manage the phone calls at the moment, and would like know if anyone thinks that they will get worse as time goes by. Are they likely to take me to court in the next six months or so.The phone calls sometimes do get worse, what ever you do dont tell them you are going BR as they will hound you. Say you are addressing the problem and seeking help this will buy you some timee.

I appreciate your help so much and im sorry if some of these questions have been answered elsewhere.

Many thanks

X

I hope this is some help and wish you all the best sizzler:)

lilibet1

thanks sizzler

Our house is in negative equity at the moment so i understand this should be ok? I have stopped paying most of my creditors but did pay 2 this month as i could afford too. Shall i stop paying everyone now then, even though im 99% decided on BR, i just dont know what to do really. Theres a 1% in me that cant make my mind up. Im worried as i had used my credit cards for essentials still doing so as trying to save and i have taken out 2 pay day loans for £200 each now i cant pay those back if im saving and im worried what OR will say, even worried about posting on here. I just go round in circles. Please advise

x

IF

Hello lilibet, don't worry asking similar questions. Sizzlers answers are great and hope they put your mind at ease.
If...x