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What to expect

I am still saving for bankruptcy, even though I thought I would be more than half way there by now, the fee increase hasn'y helped. I opened a cashiminder and my past 2 mths wages have been going there, with my creditors direct debits left in my old Barclays account. This past 2 months I've used my left over money to pay back a relative who kindly loaned me money, so now I need to start getting my fee money together.

I have missed 4 payments on a Cahoot loan, and 2 each on Barclaycard and Santander (my Barclays account is £1000 overdrawn.) The calls and letters are in full swing, but my concern is - what happens meantime? Will they sell my debt off and will people start knocking on my door/work (I have no idea how long it takes for banks to sell debt on), or can I get a ccj? I don't know how long it takes them to do things like this. I am calling CCCS tomorrow, and am going to ask about the 'token payment. templates, but I'm concerned that I have a time limit to go bankrupt before people come knocking on my door.

Comments

  • dojoman
    dojoman Posts: 12,027 Forumite
    When you say you have paid a relative back, what exactly do you mean?
    :pB&SC No. 298
    Life`s Tragedy is that we get OLD too soon
    and WISE too late!
  • skylight
    skylight Posts: 10,716 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Home Insurance Hacker!
    Some creditors act faster than others. But you will find that it will be some months of hot air and threatening letters before they actually get down to the nitty gritty and take you to court.

    Token payments are a waste of time and your money. Stick it in the bank to get to those fees total faster. Token payments do not decrease calls; creditors do not care about you or what you are paying, they are only interested in getting all they are owed.

    Its very rare for people to turn up at the door at these stages. They are only debt collectors who have no more powers that the paperboy.


    Any chance of changing your phone number? Will take off the pressure an awful lot. And get rid of those "friends" you never want to hear from again!!
  • dojoman wrote: »
    When you say you have paid a relative back, what exactly do you mean?

    I mean I borrowed money since I had none, then I paid it back to them (as promised), therein has no surplus left to save toward fee.
  • skylight
    skylight Posts: 10,716 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Home Insurance Hacker!
    How much have you paid back??

    We are not being rude or nosey, but the OR could treat the payments as preferential - as in you are giving one creditor (your relative) special treatment over the others.

    If you are talking a few hundred pounds then I wouldn't worry too much and never mention it again (paid them in cash????). If you are talking thousands then there is going to be a problem.
  • dojoman
    dojoman Posts: 12,027 Forumite
    Thanks skylight, I did not mean to offend or anger the OP, was just worried that there may be a paper trail that the OR would be interested in if it is a big amount.
    :pB&SC No. 298
    Life`s Tragedy is that we get OLD too soon
    and WISE too late!
  • I was thinking of changing my phone number, but Barclaycard are actually ringing my work, so I don't think it matters much unfortunately. I share a hous with 2 friends, and even tho they know what I'm doing, I still don't want them having to answer the door to people. Do they send letters before turning up,or just turn up? I wish I could speed up the saving, hopefully I'll get it together asap.
  • skylight
    skylight Posts: 10,716 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Home Insurance Hacker!
    Don't worry Dojo - I dont think anyone is really insulted! But when you and I have been there, done that etc, it's easy to know what you mean but not type everything, as it makes sense to you. It's a habit of mine I have discovered!

    I forget what its like to be a newbie.
  • skylight
    skylight Posts: 10,716 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Home Insurance Hacker!
    Do you have online access to your barclaycard accounts?? Try changing the phone numbers on there. It will take a while to filter through but the computer systems tend to pick up on the numbers on record. Put a false number for work for now or just repeat your current home number you are planning on changing.

    And never put a work number down in the future! Leave it blank/false!!!
  • No, it was £300 I borrowed - since I had run out of credit. So I paid £150 one month and £150 last month (ie it would have covered half my fee.) I just drew out in cash and paid back with 2 payments. Until I opened my cashminder, my overdraft in Barclays was swallowing up my wage and I was living off credit until it ran out in January. My mother loaned me £300 while I was in limbo - the process between having nothing, until my wage was transfered to my shiny new account. So these past 2 wages have been the only ones that have come to me full since....well forever, and I've not been able to put aside as much of my fee as I had hoped.
  • PS Not offended, I just didnt understand why you were asking

    PPS Didnt give my work number to Barclaycard, no idea how they got it.
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