Considering bankruptcy - I'm at rock bottom

Goldielocks

Wow what a lovely lot of people there are on here :A
Thank you ever so much to everybody who has posted their comments, advice, help and just general hugginess.

I have just phoned CCCS and spoke to a helpful lady. Explained my problem in brief and told her I was considering bankruptcy. She explained the procedure to me. I also told her that the harassing letters, phone calls and texts have started and this is what she has advised me to do:

1) Fill out the forms for bankruptcy (I believe I can do this online) and send them off.

2) She said I may then need to phone the court to make an appointment date. Do some courts contact you - or is it always down to you to contact them?

3) She told me I may have to wait for a month for an appointment - is this likely or could it be sooner?

4) I understand the fees for the bankruptcy are £475 or thereabouts, I have the cash for this ready to go

4) As for the harrassing calls etc, she advised writing to all the creditors and telling them that firstly I do NOT want to be contacted by telephone, only post and secondly I am going to declare myself bankrupt and have an appointment at the court on xyz date. Will this stop them from harassing me do you think and is this the best course of action for me to take?


As mentioned earlier, I have no real assets to my name, so don't have anything to lose. The other slight concern for me is my car. I know this sounds a bit petty, but I love my car, I'm a member of a few enthusiast clubs and we meet regularly and go out on runs and meetings. It's quite a big part of my life really. I don't just see my car as for getting from A to B - it's part of my social network now. As I said, I would only think it's worth about 2K, it's 9 years old. It's just the lady at the CCCS said that usually a vehicle worth over about 1K could be taken and sold & I would be given some funds to buy a cheaper one. Sounds a bit silly really, as I would have to go out & buy a banger for £500, which most likely would keep conking out & I'd be paying out loads for repairs. Anybody have any actual experience of this - i.e. what the OR considers to be a 'moderate' vehicle??

Bankruptcy would not affect my job or career path that I can think of, I work in admin and secretarial work so I can't see it being a problem.

I feel quite a bit better now just by writing all this down on here and also talking to the CCCS :j I try to take comfort in the fact that I am not as worse off as some people on here, having read many other threads. I have no children to worry about, no home to protect. My dad & his partner know all about this and are supporting me and offering advice. Also I have good friends to confide in. I also have the privilege of excellent health - which is something I want to keep - as all this is starting to affect my physical and mental wellbeing.

Many thanks once again
F x

sophiesmum_2

I think in your situation i would go bankrupt also. You have no assetts to protect and no dependents to worry about. look on it as a fresh start and put it down to bad experience. But make sure that in the future you have learnt some hard lessons from it all. Approach debt with caution and above all never be persuaded to take on debt for anyone else whatever the reason.
i hope you get sorted and are able to get your life back on track, you are only young you have your whole life ahead of you to enjoy.
Good luck
sophiesmum:D

In_Search_Of_Me

Just wanted to send a big hug. Am sooooo sorry you're in this position - I cant advise on whether bankrupcy is the best option. Wasnt sure from reading if CCCS took full details & advise? Reading on here they sound like they give sound advice & would also beware people like DFD as they have a vested interest & make money whether you suceed with an IVA or not! Mainly though just wanted to join the hugginess crowd & send one down the line to you! Keep us updated!

waytogo_2

I think you should check out the IVA first.I know that usually it is the creditors who pay the fees,not you,It's part of the deal.Under debt management agreements you will pay the fees but not usually under IVA's

Best Wishes

blackdoor

Really I do, just posted message 'Dilemma for new business start up'

sparkle84

waytogo wrote:

I think you should check out the IVA first.I know that usually it is the creditors who pay the fees,not you,It's part of the deal.Under debt management agreements you will pay the fees but not usually under IVA's

Best Wishes

This complely wrong you pay the IVA fees approx £6,000 not the creditors a IVA is very obviously wrong for you - go bankrupt and get on with your life and never borrow money for some man again.

Good luck

sanfrancisco

Sorry everything is so !!!!ty for you. You will get through this. Hang around here there are some amazing people. Sorry, I don't know much about bankruptcy. Do you have a job now?

Fitzy29

That is the most heartbreaking story i've read in a long while. How one human being can do this to another begs belief. You are in a stage of your life where what you do now seriously effects the rest of your whole life but you are still young enough to get over it. It's like a 3 or 5 year sentance but you will get through it.

To be honest if I was a millionare or a lottery winner I would pay this debt of for you, that's how deep your story made me feel.

Take care, and good luck!

Goldielocks

Many many thanks once again for all your warm and thoughtful suggestions and thoughts.

I have had a chance to think more about my options this weekend. Having discussed it in detail with family and friends, I am now definite in my own mind that bankruptcy is the best option for me to take.

Slightly apprehensive about the actual doing of it though I must say. It's one thing talking about it, but it's another thing doing it! I'm not too worried about going to the court and seeing the judge etc - from what I have read on here, it does not sound like a frightening or nasty experience. I guess it's all the practicalities that I have to think about now and sort out.

One question I had, which I hope somebody can answer - is what sort of view the OR normally has on the possession and use of a mobile phone. I think pretty much everybody has one these days don't they - yes we use them to text and chat to our family & friends - but also as a young female out and about on the streets on my own and also in my car on my own - I consider it invaluable. A little while ago I renewed my contract with my provider and I am tied to it for 18 months. I pay a flat monthly rate of about £32 (or I think £35, not sure without checking) - and this gives me quite a large allowance for calls or texts. Since being on this plan, I've found I don't really use the home phone! My bills have never gone over this monthly standard charge & I can't anticipate the need for me to. Would the OR consider that is an 'uneccessary expense'?? Also if I am tied into the contract, surely they can't make me cancel it??

Many thanks once again in anticipation.

:-<>


PS Fitzy29 - what a lovely and generous comment to make, reminded me that not everybody in this world is a conniving, conning, money-grabbing g*t!!!

bluezone

I was also told it would be a month to get an appointment at the court. I phoned the court oin the friday and they had an appointment free on the monday!!!!!.