Lowell Group and Bankruptcy Petition

Gimpsdad

Not falling out with anyone, debtinfo has his or her opinion, I have mine. Mine is right, therefore there is no need to fall out.

See what CCCS say, they may be very helpful. The Co-Op Cashminder account is the best bank account in the world in my opinion, but I don't mind if people disagree with that.

All I will say on that, is that I have had a Cashminder for over 4 years and it has cost me nothing. Not one penny. They don't try to sell me anything, and they never call me. I don't have an overdraft on it, but I have a debit card that works anywhere in the world, I have phone banking, internet banking etc etc. This account must cost the Co-Op a fortune, proportionately, but they still charge me nothing.

fermi

Shows that it is important not to ignore these.

Follow on thread here, where Lowells have now made the OP bankrupt. :eek:

https://forums.moneysavingexpert.com/discussion/3939579

alastairq

Gimpsdad wrote: »

Which bit of "bank on 100%" did you not understand?

Where did you get "repayment over a long time" from? Do you know the specifics of the case?

No? It MAY be a long time, but then again it may not be. Don't make assumptions when you know nothing of the case itself.

Hopfarm, speak to an expert on the specifics of your case, and then go from there.

Unreasonable response here....DI simply added to what you posted, by affirming that [due to levels of equity], anything less is unlikley at all.

Since DI is an expert in this field, I now whose advice I'd rather read.

debt_doctor

Hi,

I agree that you must engage the services of an IP without delay.

The only way you can annul (reverse) this bankruptcy is to raise enough money to pay ALL of your debts in full plus bankruptcy related costs;
or,
by obtaining an IVA to annul.
In either, speed is vital, costs are mounting.

I certainly couldnt see the creditors agreeing to less than 100% repayment. I worry about the repayment time period they would accept.

Please post back on here when you have spoken to an IP / specialist insolvency solicitor. Simply seeking advice from CAB, CCCS or National debtline, is not enough at this stage and wastes precious time.

Good luck.

DD

sundays

I just wanted to add my support.

i will also say that debt Info is highly skilled in their knowledge and id pay real attention to what they advise/suggest.

What i will say is the CCCS are not going to be able to remedy the suitation , a lot on here will give you the information that you will be told by CCCS in a few days, so IMO by the time the call comes through you will be no further forward.

the co op account is so you can get your salary paid into as most banks wont touch you know you are a declared BR, the co op will but have you asked for the basic cashminder account because they normally agree the account immediately by phone if they can prove residency, this account is availalbe for people over the age of 14/16 years of age.
I think you have asked or been assessed for a standard current account and with BR that will be disallowed- so ring them on 08457 212 212 and ask. Otherwise more time is lost.

For hamptons to have gone for BR, they have assessed your suitation they have done it , because they have established your property has equity , they wouldnt have bothered otherwise and they want there money , you will have had poor credit ie defaulted on the terms and conditions so your credit will be pretty poor if your planning to raise money to pay this off and get the BR annuled , unless you have got hard cash you wont prob get that help .


You are now a undischarged bankrupt with a massive asset ie the house and that means you are in one hell of a mess, and be prepared that unless you can raise the full amount to repay all your creditors plus the OR fees which will be high to annul the BR then you may continue to be a BR and therefore risk the loss of the home, almost cetainely it will be forced into a sale at some point unless you can resolve and annul the BR.
Your mortage will get paid first then any one with a secure charge did egg have one, they got one on my property, then the unsecure creditors nad of course then the OR fees so i assume any equity left will then be returned to you at some point .

so id be a ) getting to see a specialist on tuesday - even if you have to ring in sick and b) you need to tell your partner , because you cannot operate those joint accounts anymore that you are jointly responsible for , without the permission of both the OR and the Bank, there is no magic button to freeze them, if you take out money which now belongs to the OR it is a criminal offence, and if there is a any money in them be prepared for the worst. You cannot use it.

BR is massive it affects the
home
your salary
cars over 1k
assets

and your parter will be damaged by it and under scruitny as well.

use this forum to keep yourself abreast but for gods sake get the kids somewhere and sit down and tell your partner, by not doing it you are being deceitful to him and will damage him one way or another.

Good luck

sundays

ive reread my post and it comes over a bit harsh, however you have faffed around for three working days and done nothing, BR is a real serious issue and you cannot afford to faff any longer.
BR will affect the rest of your life including getting a rental property so treat it with the urgency it deserves.
The OR will act and get money due for your creditors, regardless if there is a family of 6 to rehome. They are likley to take money from your salary as well each month until the assets are paid or at the worst over three years, so be prepared.
Your expartner will also be notified as the asset also belongs to him.

debt_doctor

Hi,

I have no knowledge of this Company / service, but it might be at least worth a try to put you in the right direction..............

http://www.contactlaw.co.uk/how-insolvency-practitioners-can-help.html

DD

hopfarm

Sundays,I am really not being deceitful to my partner,just really,really scared of loosing the one thing that has been good in my life for a very long time.I came onto this forum for advice as I have no idea of the implications of bankruptcy.I have struggled for 5 years to keep a roof over my childrens heads and have held down a full time job and am now being penalised for being an idiot (my words),have never ever felt this low.Am seriously thinking of just dissapearing.I dont know how this works and have taken some previous advice and contacted the cccs for a call back kind of hoping they will be able to advise,now youre telling me they wont be able to help me !
Debt doctor,thank you so much for trying to help,I will contact this company on Tuesday,have no idea of costs etc that are incurring and certainly dont have any spare cash to blow between now and June 6th.

Gimpsdad

alistairq,

DI may be an expert in the field, but as I have 15 years plus in it, then perhaps I am as well. DI indicates that there is no need to pay anyone as hopfarm can do it themselves, and yet everyone seems to agree that that isn't really possible? Follow that bit of advice and see where it gets you.

Whatever, you can have your opinions on who you would rather believe, that is your right, and I am not really fussed either way, however hopfarm needs assistance and needs to speak to someone in person with experience in anulling BR's with an IVA. Once a professional, armed with facts that we don't have on here, gets a grip on things then hopfarms options will become much clearer. They may not be pleasant, but at least they will be subject to fact and not conjecture on a forum.

debtinfo

Gimpsdad wrote: »

alistairq,

DI may be an expert in the field, but as I have 15 years plus in it, then perhaps I am as well. DI indicates that there is no need to pay anyone as hopfarm can do it themselves, and yet everyone seems to agree that that isn't really possible? Follow that bit of advice and see where it gets you.

Whatever, you can have your opinions on who you would rather believe, that is your right, and I am not really fussed either way, however hopfarm needs assistance and needs to speak to someone in person with experience in anulling BR's with an IVA. Once a professional, armed with facts that we don't have on here, gets a grip on things then hopfarms options will become much clearer. They may not be pleasant, but at least they will be subject to fact and not conjecture on a forum.

You obviously dont have 15 years experience of reading full sentences and posts.

I refer you to my posts 9 & 11

Out of interest what position have you held for the last 15 years and who do you work for?