We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Bankruptcy Protection Fund - AVOID!
Options
Comments
-
I've just received a letter in the post from the above saying "We are very sorry to hear you have been declared bankrupt." They say they can help me as their business was set up to stop me from losing my home as a result of my bankruptcy.
The most intersting bit is:
"We have access to 3rd party funds which can be used whilst you are bankrupt i.e. your debts can be repaid prior to your annulment hearing. In most cases this involves a loan secured on your property. We then obtain an annulment which strikes your bankruptcy from the records. We also operate a No Win, No Fee policy with no upfront fees."
It doesn't affect me because I don't own my property. BUT I wanted to warn anyone else receiving NOT to go with the company. Advice is available on the board whether you have equity in your property or not.
They are bending the rules in that they offer to pay off your existing debts in order to get an annulment for you, but you then end up with a consolidated secured loan on your property. It doesn't solve the fact you are insolvent as if you weren't then you could have done this before BR.
It's possible you could end up going BR again anyway in the near future, especially with property prices as they are.When I joined, I needed a name. The forum members gave one to me...I am INAN
"Fortunes ebb and flow and a boat must move with the tide and be thankful that it floats." Judith Allnatt0 -
Whoops, just did a search and found a thread about them already. Reading through it I'd best ask for my thread to be closed before something nasty happens to me.
When I joined, I needed a name. The forum members gave one to me...I am INAN
"Fortunes ebb and flow and a boat must move with the tide and be thankful that it floats." Judith Allnatt0 -
the link is broken....they are forever trapped in the nether regions....the link is broken....No, I don't think all other drivers are idiots......but some are determined to change my mind.......0
-
best place for em.......We all die. The goal isn't to live forever, the goal is to create something that will0
-
Whoopsie, link fixed now. Some interesting comments if you can suffer past the french maid :rotfl:When I joined, I needed a name. The forum members gave one to me...I am INAN
"Fortunes ebb and flow and a boat must move with the tide and be thankful that it floats." Judith Allnatt0 -
Receiving their letter is just a rite of passage. File it in the bin!!
:j :j
0 -
My cat found BPF letters very absorbant!We all die. The goal isn't to live forever, the goal is to create something that will0
-
I had 2.... My reason forgoing BR was due to the 50k loss in having my home repossessed so I found these letters amusing
0 -
oh i feel really left out, I didn't get oneGetting fit for 2013 - Starting weight 10.1.13 88.1kg
Weight 27.3.13 79.1kg
weight 2.4.13 79.9kg Weight 24.4.13 77.8kg. 4.6.13 76kg
BSC member 3310 -
I also had one, personally there must be trade for these guys for them to send out on mass.
Prob from people who have been petitioned against and BR was not a choice factor .0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 599K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards