Bankruptcy - advice needed!

Marvintheparanoidandroid

Morning all,

after advice from CCCS it seems bankruptcy is my only option and I'm willing to put up with a tough year to stop all this stress!

My question is:

Would it make any difference if I volunteered bankruptcy or if my creditors and their evil henchmen made me bankrupt???

Apart from saving me £510, would it be any different?

Thanks

Rob

tigerfeet2006

Hi and welcome to the board.

It will be a cold day in hell before one of your creditors make you BR. Unless you owe money for Council Tax or to HMRC and sometimes Amex and that is only after a lot of stress.

You are better off doing it your self I am afraid.

The fee is £600 to petition unless you are entitled to a fee remision.

Marvintheparanoidandroid

that's what I thought TIgerfeet, but I have a letter from a solicitors which says "please be advised that our client HSBC requires token payments in the interim whilst your bankruptcy is heard"

Do you think they are bluffing?

fermi

DG solicitors?

Why would HSBC pay over £1,000 in fees and legal costs to make you bankrupt?

Unless you have many many 10's of thousands of pounds in property/equity, then they would be shooting themselves in the foot.

HSBC are awkward and an absolute pain in the bum, but even they aren't that monumentally stupid. Probably..........

Marvintheparanoidandroid

Yes DG. That would seem stupid, but I'm confused why they would put that in a letter, especially when in my last letter to them, I told them to make me bankrupt then we would see for sure that I can't afford to repay the debt!

fermi

Well, DG are just part of HSBC's internal collections dept. Never heard of them going through with any sort of threat, but you never know.

If you mentioned it to them to call their bluff, then it looks like they are playing the same game back.

You never know, they might do it. But as said, it would be 'a cold day in hell'.

Don't hold you breath while waiting.

To be honest, if BR is the best option, then you are much better off doing it yourself.

You would have the control of the when & how, and you wouldn't spend for ever waiting for HSBC to follow through on what is likely a bluff.

indebtinsussex

I would do it yourself, even if they did want to make you bankruptthey will drag it out forever and a day, even though you have to pay, at least it will all be on your own terms at a date where you can afford it x

Marvintheparanoidandroid

Thanks guys, good advice.

Rob