creditors are going to bankrupt us.

bride2be2006

Have you posted an SOA, do you know how much you owe in total? The people on here are very good at advising on how you can cut down and maybe if you have a plan of action your creditors will be more lenient - sorry I dont really have any good advice but have a ((Hug)) from me, hope you get it sorted

justruth

I'd check with the CCCS but would it be worth your while to get a copy of all statements, list all charges and all documents relating to the insurance on the loan and forward it to the FSA? Certainly reclaim the bank charges, and argue that you were mis-sold the insurance on the loan as it was not suitable for the purpose stated.

Don't get into dialogue with these bullies and if the worst comes to the worst and they bankrupt you, the court takes into account things that you need and transport for hospital appointments would more than likely be covered under that. They want to treat you like something that's stuck to the bottom of their shoes well nows the time to take that fear and frustration and channel it into scr3wing them back!

nomoneytoday

I doubt the creditor will take any of those bits as a V reg car is under £3000 and they will get little for the toys.

However, maybe you should ask yourself, why with £25k of debt did you buy Game cubes, dvd players etc?

mrslawrence2003

T.J wrote:

I did manage to stop for 3 weeks, but gave in one night. Stupid, i know. The thing that is really annoying is that when we tokk the loan out with lloyds about 2 or 3k of that was for insurance. When my hubby had his accident and went on incapacity i rang them to ask if we could ise the insurance. They said to ring them back when he was claming benefits for three months. I asked them to reduce the payments to help. They refused. By the time we could claim on the insurance they had already issued us with a default and sent it to another company.

thats disgusting!!!!!!!!!!!!!! i'm so sorry you're having this trouble. i had to stop work through ill health and had to go on incap benefit and had credit card with lloyds that was insured. they approved my claim within bout 2 months of me stopping work (i didnt claim until 1 1/2 months after i stopped working as i'd hoped i would be able to work sooner but couldnt). i hadnt had my IB approved by them but i had no probs with lloyds and they were actually extremely helpful.

however, when i asked lloyds for help with my loan (no insurance) i got nowhere, and in fact they put my current account to collections or somewhere, despite that fact i didnt miss any payments, told them i could continue to pay but would appreciate help!!!!

sgx.saint

From what the OP has said and based on my understanding of the system.

If you (OP) is paying physically as much as possible to each and every creditor on a pro-rata basis then you can ask the Judge/Court to have the Bankruptcy motion set asside, based on the grounds that you are paying and have no assets.

The Judge will not allow a Bankruptcy to go ahead if there is any hope of repayment.

So I wouldn't worry too much.

makingendsmeet_2

nomoneytoday wrote:

I doubt the creditor will take any of those bits as a V reg car is under £3000 and they will get little for the toys.

However, maybe you should ask yourself, why with £25k of debt did you buy Game cubes, dvd players etc?

The OR won't be intrested in a gamecube, plus they aren't allowed to touch childrens toys. My wife was bankrupt at the beginning of november. To people on here hate bankruptcy but beleive me if you don't own your own home or have little equity in it and you don't have a flash car or expensive jewellary then Lloyds are doing you the biggest favour ever. You have to remember the OR is not a Baliff, he won't come round to you house and go through your stuff to see what he can flog on Ebay. He isn't really intrested in anything below £500 and even then if you have a need for the item he won't take it. Your Zafira he may won't but if he takes it and you need a car to get to work or to take your daughter to hospital he will have to sell your car and give you some money back to buy a cheaper one. The limit is normally arond £2000, so he could sell the zafira for say £3000 give you back £2000 and give your creditor a £1000.

T.J_5

nomoneytoday wrote:

I doubt the creditor will take any of those bits as a V reg car is under £3000 and they will get little for the toys.

However, maybe you should ask yourself, why with £25k of debt did you buy Game cubes, dvd players etc?

And your problem is what exactly????? I find this comment very rude.
FYI the game cube(singular) is to share and was on sale in argos for £40 in september. The dvd players were bought by the kids out of their birthday money, and are all over 2 years old. Do not judge me until you know all the facts.

Broken_hearted

nomoneytoday wrote:

I doubt the creditor will take any of those bits as a V reg car is under £3000 and they will get little for the toys.

However, maybe you should ask yourself, why with £25k of debt did you buy Game cubes, dvd players etc?

The same reason the rest of us do.

sanfrancisco

T.J wrote:

FYI the game cube(singular) is to share and was on sale in argos for £40 in september. The dvd players were bought by the kids out of their birthday money, and are all over 2 years old.

You have answered your own questions. They will not be interested in these, they are not worth enough.

I did think the limit for the car was £1000, but if a zafira is a special car (highed roof, for your disabled daughter) then the OR will be fine.

As a note of comfort to you, I have been reading this board avidly since they started (just over 2 years ago) and of ALL the stories I have read about bankruptcy they have all had positive things to stay about the OR's. No one has been treated degradingly or meanly. Infact they all sound like a right nice bunch! Try not to worry (easier said than done). This too will pass.

makingendsmeet_2

Some people will say that if you go bankrupt and don't repay your creditors, then you are ripping off the man in the street as he will pay more intrest and charges in the future to make up the banks shortfall. I totally agree this is what will happen. On the other side of the coin if IVA's and Bankruptcy halfed in 2007 would the banks return there saving to the consumer. I THINK NOT.