What a Absolute Disgrace!

Sassers

Millionare wrote:

Good luck sassers! ive resigned myself to going bankrupt now. any hope i had a few days ago just got the stuffing knocked out of it with that email.

Cheers chook! I'm really sorry you're considering going bankrupt, my dad came close to it a few times and it was very stressful for us...The silly s@d had this weird attitude because he earned shedloads, everyone could take a running jump until he was ready to pay them. So stupid, one of his creditors wanted to bankrupt him for a very small amount. In fact, I remember being on `bailiff-watch' aged 10 and always keeping an eye out the front of the house in case they came up the garden path! Always seemed to come in pairs, with briefcases, clipboards and waterproof coats.
It's not nice, nor is it easy but just think of the relief you'll feel though!
There's actually a very good support thread on here - MikestHelens and Rog2 started it. It's here on the debt-free wannabe bit and very good for virtual `handholds' if you get scared. And if you need someone to chat to, I'm here quite often, just PM me.
And yes Lynz, I will be moving heaven and earth to get rid of the loan, put up the monthly direct debit to £100 yesterday instead of the minimum payment of £55. They weren't happy.Specially when I asked for six years worth of statements...... I think they know what's coming next!
love Sas x

gettingitsorted

If you can afford it and you have taken proper advice, just declare bankruptcy. My OR said banks and credit card companies were advising people who really couldn't pay there debts that it really is the best option. How long would your DMP last if you carrying on paying your current payment?

James&Shell

I went br and that was the best thing that i could of done to sort my debts out.

My Payplan was due to last 15 years.

Good Luck With what ever you Choose

Millionare

Xbigman,lynzpower,

Ive tried apply for a loan at other banks but am getting declined. even though i apply for consolidation of existing debts they decline it. ive got/had a excellent credit rating, never missed a payment, but i was living off my credit cards so im stuck with what i got which includes £8118 on a 21.49 APR credit card with hsbc. and 1 or 2 high interest rates cards, but this email, i just cant belive they are allowed to make such a huge jump in what? 15 days. oh well.

Sassers,

I will be a regular vistor to the bankruptcy club thread now to get some answers that i require, thanks for the help.

gettingsorted,

when i spoke to payplan they told me that i had £45 left over a month before they included any repayments. i worked out more but they told me "ethically" i didnt, i argued at first becasue that basically means i need to go bankrupt and didnt sleep that whole night. in the end i realise that they were right. i was trying too hard to at most have to do an IVA. i even opened another account with a building society recently to make payments before i got advise and it looks like that i might have to close that with the bankruptcy becasue they insist in a £250 interst free overdraft which cannot be removed or increased on that account. i dont know whther they will let me keep it.

my debt is approching £34000. so even if the banks freeze interest it would take me (£45) approx 63 years to clear at current rate. i dont think i'll be around 6 years with the amount of stress and depression im having at the moment.

im major cocnern is they will take my one and only car which i checked in parkers which has a value of part exchange of £2400. i use it to get to and from work but ive been recently reading people saying they have had there car taken even when it was valued less than £1000 and its there only car. first thing they knew is when they got a letter through the post. it seems it depends how nice your OR feels towards you.

when do you let the OR know about your hardship without a car?

tight_jock

Millionare wrote:

Xbigman,lynzpower,

Ive tried apply for a loan at other banks but am getting declined. even though i apply for consolidation of existing debts they decline it. ive got/had a excellent credit rating, never missed a payment, but i was living off my credit cards so im stuck with what i got which includes £8118 on a 21.49 APR credit card with hsbc. and 1 or 2 high interest rates cards, but this email, i just cant belive they are allowed to make such a huge jump in what? 15 days. oh well.

Sassers,

I will be a regular vistor to the bankruptcy club thread now to get some answers that i require, thanks for the help.

gettingsorted,

when i spoke to payplan they told me that i had £45 left over a month before they included any repayments. i worked out more but they told me "ethically" i didnt, i argued at first becasue that basically means i need to go bankrupt and didnt sleep that whole night. in the end i realise that they were right. i was trying too hard to at most have to do an IVA. i even opened another account with a building society recently to make payments before i got advise and it looks like that i might have to close that with the bankruptcy becasue they insist in a £250 interst free overdraft which cannot be removed or increased on that account. i dont know whther they will let me keep it.

my debt is approching £34000. so even if the banks freeze interest it would take me (£45) approx 63 years to clear at current rate. i dont think i'll be around 6 years with the amount of stress and depression im having at the moment.

im major cocnern is they will take my one and only car which i checked in parkers which has a value of part exchange of £2400. i use it to get to and from work but ive been recently reading people saying they have had there car taken even when it was valued less than £1000 and its there only car. first thing they knew is when they got a letter through the post. it seems it depends how nice your OR feels towards you.

when do you let the OR know about your hardship without a car?

Re the car. When you have your initial interview with OR you must let them know that it is essential for work. They may let you keep what you have or let a "friend " buy it and lend it to you . Or they may take it, sell it and give you a percentage to get a cheaper one. The removal of a vehicle is discretionary and don`t let anyone tell you different!!