Help and advice needed re BR options

Anondebtadvisor

Hi there.

Co op cashminder is good account to change to if you dont owe them any money?

Any one of the above will seriously damage your credit rating - defaults remain on your credit file for 6years so dont let this influence your decision -

You cannot do a DAS or a TD on benefit income alone - did your advisor discuss this with you?

If you are claiming JSA you meet the criteria for LILA which may be your best option

generaloneill

Anondebtadvisor wrote: »

Hi there.

Co op cashminder is good account to change to if you dont owe them any money?

Any one of the above will seriously damage your credit rating - defaults remain on your credit file for 6years so dont let this influence your decision -

You cannot do a DAS or a TD on benefit income alone - did your advisor discuss this with you?

If you are claiming JSA you meet the criteria for LILA which may be your best option

Yeah, was erring toward LILA, just didnt want to suggest it so early to him before properly considering the options. £100 is far cheaper than I expected this would cost.

Glad I made this first step, as the whole process scares me.

topoftheworld

Hi

After sixteen years of trying to clear never ending debts and now owing more than I could ever clear I went down the LILA Bankruptcy route. I spoke and got advice from the Debtline people who were very nice they took time and explained all options but in the end bankruptcy was really only option for me I opened a Cashminder account then Phoned the AIB got forms sent out paid £100 fee and one week after forms returned I received my letter saying I was Bankrupt I still can hardly believe it after so long struggling to pay. I am sad it came to this but the relief I feel is so huge finally able to sleep. I visit this site every day but this first time I registered the help and advice on this site has helped me cope. I feel now things can only get better. x

generaloneill

topoftheworld wrote: »

Hi

After sixteen years of trying to clear never ending debts and now owing more than I could ever clear I went down the LILA Bankruptcy route. I spoke and got advice from the Debtline people who were very nice they took time and explained all options but in the end bankruptcy was really only option for me I opened a Cashminder account then Phoned the AIB got forms sent out paid £100 fee and one week after forms returned I received my letter saying I was Bankrupt I still can hardly believe it after so long struggling to pay. I am sad it came to this but the relief I feel is so huge finally able to sleep. I visit this site every day but this first time I registered the help and advice on this site has helped me cope. I feel now things can only get better. x

That simple? Did you have to go to court? Im expecting the worst. OH is expecting Baliffs to turn up at the door and all sorts. Such a pessimist.

topoftheworld

Hi I was like you dreading the worst it took me months of worrying before I finally had the courage to go for Bankruptcy . I had read everyone else on about court and phonecalls neither of which I had to do it seems much more straight forward in Scotland. I have not spoke to anyone just filled in forms returned with three wage slips and one week later received my letter. Two weeks before I opended cashminder account for wages and have had no problem as had no assets in account the AIB was not intrested in the account. I cant tell you what a relief it is to have taken action so I know how scary it is but taking that first step best thing you ever do. Wishing you all the best

generaloneill

Got my form back from the CAB this afternoon, will fill it out tonight. Also managed to access my online credit report, and its helpful in that it shows me most of my creditors and how much I owe them, so that will be helpful.

My only problem now, will be finding the £100 to start the Bankruptcy. Does anyone know, at what point is it acceptable to stop paying your creditors directly? Literally every penny I have is going to them and I have no way of saving the £100 court fees.

wildheart83

Now that you have made the decision to go BR I would stop paying your creditors now. I stopped paying my creditors the month before I went BR.

I'm sorry I can't remember if you have already, but open your new bank account ASAP and have the DDs you wish to keep transferred over now as well.

In Scotland you don't go to court so it's not like having to wait for an appointment. I handed my forms in at the AIB and they offered to check them for me before I paid the £100 fee.

generaloneill

I want to open a co op cashminder account, but the nearest branch is in Glasgow, so need to wait till I can make it through there.

topoftheworld

I opened my account over the phone took about 15 mins received card within a week. Didnt have to send any proof of address as was registered living there.

WantToBeFree

generaloneill wrote: »

I want to open a co op cashminder account, but the nearest branch is in Glasgow, so need to wait till I can make it through there.

You can open the account over the phone, very easy and they are very helpful too