Are bankrupts getting a raw deal?

debt_doctor

mad_bad_spender wrote: »

going under.. have they included a copy of your soa as they see it with the allowances they have given? if not i would ask them for this so you can see for yourself what they have allocated for your outgoings.

my or can see by my soa that there is no surplus at the end of the month yet have stated the minimum amount they will accept is £30 a month, to cover their fees i assume? so I have to find £30 out of what is already minus £50-60 most months? you just get too scared to argue though in case going to court would make the situation worse

Hi, It is in my opinion utterly unreasonable to ask for an amount that is not meant to benefit the creditors and to merely pay the IS fees.
If you feel that this proposed IPA is affecting your ability to furnish the reasonable (not basic) domestic needs of yourself and your family then I would advise you to say NO.
I also respect your reason for not doing so if you feel it would be too much hassle for you.
DD

debt_doctor

Hi, goingunder,

Did you get my draft letter via PM ?

DD

alastairq

I want to clarify a complete and total misunderstanding by certain posters on this forum, regarding the issue of whether a discharged BR actually still owes any previous creditor anything....

There seems to be a misleading trend regarding the myth that moneys are still owed, after bankruptcy proceedings have been completed.

Let me make this clear.....an individual , once discharged from bankruptcy, owes absolutely nothing whatsoever with regard to any debts that were included within that bankruptcy.

For anyone to suggest...especially on this forum, that a debt still exists post-bankruptcy, is doing nothing to enhance the beliefs of those who are more vulnerable to the fears, trials and tribulations which bankruptcy can be perceived to hold.

Bankruptcy is a lawful process....and can only be sanctioned by a Court.

It is not a condition obtained by applying to some sort of agency...or purchased over the internet...or provided by a commercial undertaking. [unlike a DMP, for example]

Any debt perceived to exist post-BR does so solely in the imagination of individuals......and not in reality......so let's not pretend it does, eh?

dojoman

alastairq wrote: »

I want to clarify a complete and total misunderstanding by certain posters on this forum, regarding the issue of whether a discharged BR actually still owes any previous creditor anything....

There seems to be a misleading trend regarding the myth that moneys are still owed, after bankruptcy proceedings have been completed.

Let me make this clear.....an individual , once discharged from bankruptcy, owes absolutely nothing whatsoever with regard to any debts that were included within that bankruptcy.

For anyone to suggest...especially on this forum, that a debt still exists post-bankruptcy, is doing nothing to enhance the beliefs of those who are more vulnerable to the fears, trials and tribulations which bankruptcy can be perceived to hold.

Bankruptcy is a lawful process....and can only be sanctioned by a Court.

It is not a condition obtained by applying to some sort of agency...or purchased over the internet...or provided by a commercial undertaking. [unlike a DMP, for example]

Any debt perceived to exist post-BR does so solely in the imagination of individuals......and not in reality......so let's not pretend it does, eh?

Who is saying anything to the contrary? Have I missed something?

alastairq

it's those dratted padlocks again....

virtuous

Hi alastairq,

I am so happy to read your post here because I received this morning a letter from Halifax claiming that because I was bankrupted in 2005 that they have contacted the Insolvency Receiver and that they will send my PPI claim money to them. Can Halifax do this to me. This has really saddened me because I have used all my time and energy contacting them and finally when they are have approved my claim, they want give it away, this is sickening and I am hoping there is a law that prohibits this from doing so,

IF

virtuous wrote: »

Hi alastairq,

I am so happy to read your post here because I received this morning a letter from Halifax claiming that because I was bankrupted in 2005 that they have contacted the Insolvency Receiver and that they will send my PPI claim money to them. Can Halifax do this to me. This has really saddened me because I have used all my time and energy contacting them and finally when they are have approved my claim, they want give it away, this is sickening and I am hoping there is a law that prohibits this from doing so,

I am sorry but wherever you post the answer is the same as you've received on your thread xx


https://forums.moneysavingexpert.com/discussion/3463753

alastairq

as if says....your entitlement to receive any compensation with regards to PPI was lost once BR was petitioned, as it was associated with an 'included' debt..

Therefore it goes into the BR estate...

Of course, if the question had been posed prior to making a claim, the answers could have saved you time and effort.

alastairq

For many, women and the poor for example, these Victorian values could be pretty stultifying in their effects. But the larger fact is that the free market works to undermine the virtues that maintain the bourgeois life.

When savings are melting away being thrifty can be the road to ruin. It's the person who borrows heavily and isn't afraid to declare bankruptcy that survives and goes on to prosper.

When the labour market is highly mobile it's not those who stick dutifully to their task that succeed, it's people who are always ready to try something new that looks more promising.

http://www.bbc.co.uk/news/magazine-14764357

The above quote is from a current BBC -sponsored article on Capitalism, and Karl Marx.


I have hilited an important observation.


And it is nice to know that at least someone else, happily of a greater educational understanding than I, feels the same way as I do.

The existing view of bankruptcy and those who undergo it, is one of vilification and stigma.

In just the same way, as 'Victorian' moralists viewed such things as adultery and divorce.

But, do I detect subtle shifts in attitude towards BR from society...and the financial world in particular?

BR has long been viewed as a legitimate tool of business......the construction industry being, in my view, a prime example.

It has been acknowledged, even on here, that bankruptcy...or the risk of it occurring, is built-in to the financial industry's business model.....

What the finance industry hopes is that, its customers [you and I] are insufficiently aware of options like BR...or sufficiently afraid of the outcomes of BR....to consider BR as a path to improvement of lot.

Thus, ensuring profit for them, rather than a zero outcome. [Although it will never be a 'zero' outcome for credit....since most of us actually make some effort to repay prior to petitioning BR]

What the above article suggests to me is, that actions like bankruptcy will become more commonplace, amongst individuals...

We all seem hell-bent on fulfilling the prophecies noted in the article....for what is the first thing we do following discharge?

Why?...Looking to clean up our credit files, neh?

And for what purpose?

Surely not, to be able to access even more credit in the future....in whatever way, shape of form it manifests itself?


And if we get ourselves some way back onto the financial security track we so desperately seek [property ownership being one example?}....and, again we find ourselves backed into a financial corner....having experienced how to endure....make the best of... the BR environment, would we not be less afraid to use this tool to better ourselves again?

NO...in my view, those of us who have experienced life as BR's are far from morally corrupt....far from being the poor unwitting victims of stigmatisation.....


we BR's and ex-BR's are in fact the leaders of a capitalist revolution......unafraid to face pastures new, instead of stultifying within a credit-laden, financially-burdened lifestyle.


Co-op have long realised this.

The great-and-glorious Barclays are now coming around to the same understanding....

The rest...must either change their attitude, or go to the wall!

deepintrouble

Take a look at this thread over on the DFW board if you want to see how judgemental people can be when it comes to others debt.

I've not seen so much rubbish, mis-information and downright self opinionated junk in a long time.

https://forums.moneysavingexpert.com/discussion/3467937