urgent problem i think

hopefulfooluk

wok_boy wrote: »

What do you mean bankruptcy stays with you for life? No one has ever given anyone that impression before, as far as were all concerned 6 years after the BR date it disappears off your credit file and thats it.

What I mean is that while it may fall off your credit file after six years, it is forever searchable on the london gazette, and if asked whether you have ever been made bankrupt (most mortgage applications contain this question), you will always have to answer yes.

So even after it is off your file, if asked, you will have to declare that you once were bankrupt.

That's what I mean about it staying with you for life.

EDIT: Beaten to it by bat out of hell

bat-out-of-hell

hopefulfooluk wrote: »

What I mean is that while it may fall off your credit file after six years, it is forever searchable on the london gazette, and if asked whether you have ever been made bankrupt (most mortgage applications contain this question), you will always have to answer yes.

So even after it is off your file, if asked, you will have to declare that you once were bankrupt.

That's what I mean about it staying with you for life.

EDIT: Beaten to it by bat out of hell

I did miss the london gazette bit though, to make the point lying is a big gamble, thank you for highlighting that, i am a bit rusty obviously

hopefulfooluk

bat-out-of-hell wrote: »

I did miss the london gazette bit though, to make the point lying is a big gamble, thank you for highlighting that, i am a bit rusty obviously

Happens to the best of us

wok_boy

I'm not on about lying. If I'm not asked I don't tell. It just looks at first glance that it is some sort of legal statute.

cassietony

will give you brief history. I personally owe 50,000 ( very embarrased ) my business owes 13,000. Been getting help from payplan for last 12 mths. Business is seasonal so very quite in winter got through realy hard winter getting more stock on credit, borrowing more , knowing it will pick up in holiday season. But ended up using money from house to prop shop up. hence bigger debts at home. had no oil for boiler since jan and cant afford any. car broke down constantly but kept repairing it cos couldnt afford new year , would have been cheaper in long run to buy new car.6 children to feed.wont answer the phone at home cos know its people i owe money to. Shop debts continue to mount up and not taking enough to cover outgoins let alone replenish stock. Suppliers are screaming at me constantly for money which i just havent got Have court action against me for non payment etc with more pending. Final straw was last week when court baliff walked into shop with walking possesion order.Two of my children ( 16 & 15 ) were in shop at time and heard everything . Payplan have worked out we can only afford to pay our creditors £1 each. thought long and hard as shop was my dream 5 yrs ago .lots of shops opened in town selling what i sell for less than what i can buy them for wholesale.Plus people arn't spending cos of recession, what i took all last weekend i normally take in one day. .also useless bank told me couldnt help after 3,000 in interest and bank charges was aded onto account over 12 mths they then gave me a new business manager who could help butt couldnt get charges back !!! cant see other way out thanks for help

bat-out-of-hell

Thank you cassietony, that explains the haste.

As for the Bank, you DO NOT need an interview to take your name of an account.

Does your court run an appointmant system, or can you just turn up on the day?


As long as there is only a walking possesion order on the shop, please confirm it is just the shop, you may have a bit more time yet, depending on what you are trying to protect? I think you will understand, if not, say so

bat-out-of-hell

wok_boy wrote: »

I'm not on about lying. If I'm not asked I don't tell. It just looks at first glance that it is some sort of legal statute.

Nobody was saying, or even hinting so, just answering why BR does not end when it falls of your credit file.

For some it may, for others, it comes back and bites them at some time in the future, it depends how your life pans out.

But it is wrong to think BR ends once it drops of your credit file, very wrong

cassietony

walking possesion order is on shop. Last thing i want is baliffs at home aswell which it will happen if i dont go bankrupt real soon. I have a son with special needs so can do wthout all the worry this debt is causing me

court is appt system

bat-out-of-hell

cassietony wrote: »

walking possesion order is on shop. Last thing i want is baliffs at home aswell which it will happen if i dont go bankrupt real soon. I have a son with special needs so can do wthout all the worry this debt is causing me

court is appt system

Well thats easy, they can not get a walking possesion order if they can not gain entry;)

Is the shop a ltd company, or are there personal guaretees complicating the issue?

The long and short of it is, a court may delay your BR if monies needed to live on may be frozen in an account if the BR order is granted.

If it is benefits, it will (should) be released to you after BR, but that can take time.


I personaly would ring the bank, and insist they take your name of NOW, there is no reason an interview is needed, except to either fish, if they are a creditor, or try sell you something if they are not.

The last thought is, is it the end of the world if your OH is financialy tied to you when you go BR, is there a reason you see this as an issue?

cassietony

thanks x guess it is not end of world if hubby is associated wih me. He has his own business but he pays for everything up front so doesnt need credit so guess its ok