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binnie

Oh well gone and made the phone call to CCCS . Cancelled direct debits on cards and loans and now just worried about all the phone calls we are going to get.
Hubbie can't cope much longer, he has got so depressed.
This is the only way we can see to make our life a little easier.. it's all getting too much robbing peter to pay paul and we have been so proud to ask for help and just muddled through, but now it has got to crisis point.

missfiredragon

Hello

I'm in a bit of mess and am contemplating bankruptcy but am worried about how this will affect my businesses that I am currently running/involved with....

I owe £18,500 on a loan secured on my flat and about £19,00 to various credit cards/overdrafts. I have tried to sell my flat but can't and I have about £36,000 equity in it. I should add that I also owe my parents about £30k : (

I have two shops on commercial leases. One lease has expired I'm 'holding over' on a monthly periodic tenancy. The other has about 8 years to run & as I paid a premium for the lease initially, may have re-sale value. Both shops make a very small profit (less than £6,000 in total) but have potential to increase.

My question is will they take both leases off me? And if I could sub-let the lease with resale value to a colleague, if my name is still on the head-lease will this still count? The shop runs as a co-operative & there are other people more involved than I am (but only my name is on the lease). And moreover, would I have to disclose it if it wasn't my business?

Sorry to wibble on, I hope this makes sense....

Jwh00001

Good Afternoon

I was irresponsible with credit in my early 20s, and got into a lot of debt. I was made bankrupt in 2009, and was discharged a year later, in January 2010. I have recently checked a copy of my credit file with CallCredit, (free on a 28day trial), expecting to see most of my debts cleared off, but they're still there, under various addresses that I had when incurring these debts. These include a couple of defaults and 2 CCJ's. All of these debts occurred before the bankruptcy, which I thought entitled me to a fresh start. Obviously I'm aware that the bankruptcy should be on file for 6 years, but I was under the impression that everything else wouldn't be??? Just wondered if you could clarify the position for me, is it up to me to contact creditors (and courts in the case of CCJ's), and ask them to update the file, or should it be done automatically?

Many Thanks
James

StepChange_Pavan

binnie wrote: »

Oh well gone and made the phone call to CCCS . Cancelled direct debits on cards and loans and now just worried about all the phone calls we are going to get.
Hubbie can't cope much longer, he has got so depressed.
This is the only way we can see to make our life a little easier.. it's all getting too much robbing peter to pay paul and we have been so proud to ask for help and just muddled through, but now it has got to crisis point.

Hi binnie and thanks for your posts.

I’m sorry we didn’t get to your first one sooner but I’m glad to hear that you’ve called us and taken your first step to becoming free.

If you need any further support, you know where we are.

Kind regards,
Pavan

StepChange_Pavan

Stone_Fox wrote: »

Hi, I was hoping for some advice if you would. I got a letter today from a "High Court Enforcement Officers & Certified Baliff" office saying that I've got 7 days to pay £157.00 or they'll come and confiscate my property. The fine is for a driving offence from 2008 that I'd forgotten all about!

The problem is, I'm currently unemployed and simply don't have a penny of it! The thing is, the faq on their website says that they won't give me any more time to pay, it's a case of pay up or lose stuff...

Hi Stone Fox and thank you for your email.

Unfortunately as you have left it so long to contact them, it’s likely that the bailiffs will come to collect the money.

You can give us a call for some more detailed advice, but at this stage the bailiff may be unwilling to negotiate. Is there anyone in your family or circle of friends that are able to pay the money for you?

Kind regards,
Pavan

System

Steamer28 wrote: »

Just started to have problem repaying all my debt. Summary below.
Loan 1 Nat West - £13000 PM 350
Loan 2 Nat West - £12000 PM 240
Loan 3 Tesco - £10000 PM 235
CC1 Nat West - £3500 PM 75
CC2 Tesco - £1500 PM 30
CC3 Mint - £1000 PM 30
CC4 Barclay Card - £3000 PM 60
Other - £2000 PM 90

As most is with Natwest would you advise contacting them first to see if they can help or should I go for a DMP a make the contact more formal?

Thanks

Hi Steamer28 and thanks for your post.

It would depend on your individual circumstances as to what the best debt solution would be.

I’d recommend that you contact us for some free and impartial advice.

The first thing to do is visit our online debt advice service Debt Remedy (http://www.cccs.co.uk/ref/drcu) to help you find a solution to your debt problem quickly.

Debt Remedy will assist you in completing a financial statement with information on your household, employment, income, expenditure and debts. From this the service will automatically determine your options.

To help you fill in the form, it’s best to gather together information about:
• Your income
• Your expenditure
• The creditors you owe money to

You’ll receive a downloadable advice booklet providing a tailored solution for you based on your current circumstances and advice on ways you may be able to improve your situation.

If you’re not confident with computers or would like to speak to an advisor then you’re welcome to ring our free Helpline on 0800 138 1111. We’re open Monday to Friday 8am - 8pm.

If you phone us it may be possible to refer you directly to a counsellor for immediate advice. Alternatively, we will arrange for an appointment to be booked at a time convenient for you.

I hope this helps.

Kind regards,
Mat

vasilysmyslov

Hello all, please bear with me, I am unsure if this is the correct place to post this. Basically my situation is as follows. I moved to another country, still within the EU a year and a half ago. I was forced to leave my house share in London and did not have the opportunity to find a sub tenant after I left. My landlord has now secured the services of a CPA and they have been sending me letters which state I must pay the whole 2,100 immediately. Obviously I do not have this, nobody in my family either. They have too suggested even if I pay a small amount now and suggest a payment plan they have the right to take further action. Is that correct? Do I not have a leg to stand on if I make the necessary steps to begin repayment?
I am still living outside of the country. What can they do? I am very worried about this and do not really know where to turn. Any help would be appreciated. All the best,

Vasily.

Steamer28

CCCS_Mat wrote: »

Hi Steamer28 and thanks for your post.

It would depend on your individual circumstances as to what the best debt solution would be.

I’d recommend that you contact us for some free and impartial advice.

The first thing to do is visit our online debt advice service Debt Remedy to your debt problem quickly.

Debt Remedy will assist you in completing a financial statement with information on your household, employment, income, expenditure and debts. From this the service will automatically determine your options.

To help you fill in the form, it’s best to gather together information about:
• Your income
• Your expenditure
• The creditors you owe money to

You’ll receive a downloadable advice booklet providing a tailored solution for you based on your current circumstances and advice on ways you may be able to improve your situation.

If you’re not confident with computers or would like to speak to an advisor then you’re welcome to ring our free Helpline on 0800 138 1111. We’re open Monday to Friday 8am - 8pm.

If you phone us it may be possible to refer you directly to a counsellor for immediate advice. Alternatively, we will arrange for an appointment to be booked at a time convenient for you.

I hope this helps.

Kind regards,
Mat

Thanks Mat

I have completed the online CCCS statement of in/out's and a DMP have come back as the course of action.

Im just checking before I send off the signed documents if you think contact with Natwest is a good or bad idea?

Thanks again

Steamer28

System

missfiredragon wrote: »

Hello

I'm in a bit of mess and am contemplating bankruptcy but am worried about how this will affect my businesses that I am currently running/involved with....

I owe £18,500 on a loan secured on my flat and about £19,00 to various credit cards/overdrafts. I have tried to sell my flat but can't and I have about £36,000 equity in it. I should add that I also owe my parents about £30k : (

I have two shops on commercial leases. One lease has expired I'm 'holding over' on a monthly periodic tenancy. The other has about 8 years to run & as I paid a premium for the lease initially, may have re-sale value. Both shops make a very small profit (less than £6,000 in total) but have potential to increase.

My question is will they take both leases off me? And if I could sub-let the lease with resale value to a colleague, if my name is still on the head-lease will this still count? The shop runs as a co-operative & there are other people more involved than I am (but only my name is on the lease). And moreover, would I have to disclose it if it wasn't my business?

Sorry to wibble on, I hope this makes sense....

Hi Missfiredragon and welcome to the forum.

As your situation sounds complex I would recommend that you contact us on our free helpline on 0800 138 1111. We’re open Monday to Friday 8am - 8pm. We should be able to find the best debt solution for your current circumstances.

If you phone us it may be possible to refer you directly to a counsellor for immediate advice. Alternatively, we will arrange for an appointment to be booked at a time convenient for you.

I hope this helps.

Kind regards,

Mat

System

Jwh00001 wrote: »

Good Afternoon

I was irresponsible with credit in my early 20s, and got into a lot of debt. I was made bankrupt in 2009, and was discharged a year later, in January 2010. I have recently checked a copy of my credit file with CallCredit, (free on a 28day trial), expecting to see most of my debts cleared off, but they're still there, under various addresses that I had when incurring these debts. These include a couple of defaults and 2 CCJ's. All of these debts occurred before the bankruptcy, which I thought entitled me to a fresh start. Obviously I'm aware that the bankruptcy should be on file for 6 years, but I was under the impression that everything else wouldn't be??? Just wondered if you could clarify the position for me, is it up to me to contact creditors (and courts in the case of CCJ's), and ask them to update the file, or should it be done automatically?

Many Thanks
James

Hi James and welcome to the forum.

The bankruptcy will be listed on your credit file for 6 years along with everything else, so if you did have CCJs prior to the bankruptcy these will show until they drop off after 6 years.

As bankruptcy is a form of insolvency this will be treated with more weight on your credit file than either the CCJs or defaults anyway.

This link should help explain more about your credit rating and how you can improve it http://www.moneysavingexpert.com/loans/credit-rating-credit-score

I hope this helps.

Kind regards,

Mat