would a company make you br...

1289rs

Hi wel basically i owe £15,830.22 after getting everything together this morning

The most is to BARCLAYS witch is £12,000

And then capital one of £1881

The rest is made up of smaller 2-400 debts with varoius companies

I currently have no income,lost job went self employed its not worked out in a nut shel (see my other thread for more info)

Now i am going to ring cccs tomorrow as i was ment to get a call back but never did

I have no assets, had to pretty much sell anything iv had of any value on ebay over last few months to either make up the short fall on business over heads and living expences etc

I think br is my best/only way forward as it stands and online cccs debt remody also recommended it

Haowever theres no way i csn raise the fee, would barclays perhaps "Make" me bankrupt? As iv herd if you owe over £700 to a company they can start ankruptsy proceedings againsed you?

I have not paid anything on anything for 6 months now

PippaGirl_2

Tecgnically a company can make you BR, the question is would they as it costs them and they might want to know that the fees they would pay to do so would be realised in your estate. If they think you have nothing to hand over to the OR their incentive to do so would be low.

antonic

The only creditor I know of, who actively pursues bankruptcy, is HMRC.

If you have no assets it would be a waste of money for Barclays to make you bankrupt as it costs a lot of money to make people bankrupt.

Try going down the DMP route and see what happens.

fermi

Can't see them contemplating making you BR for one second based on what you have written about your circumstances.

If BR really is the best option, then there can be alternative ways to raise the fees.

See: Possible assistance with Bankruptcy costs / fees (Thanks to NE Derbyshire CAB)

I think some of that is now out of date though.

PippaGirl_2

Some companies have bankruptcy insurance so will make someone BR for relatively small amounts very quickly rather than muck about with smaller monthly payments. The most common business covered this way are independent schools.

immoral_angeluk

antonic wrote: »

The only creditor I know of, who actively pursues bankruptcy, is HMRC.

If you have no assets it would be a waste of money for Barclays to make you bankrupt as it costs a lot of money to make people bankrupt.

Try going down the DMP route and see what happens.

HMRC are commonly pursuing bankruptcy... but other non priority creditors do also. Seeing 1st Credit doing it a lot of late for example but generally they will only look to petition against debtors with assets/property.

1289rs

Thanks for the replys!

Yes I am trying to set a DMP up but so far only 1 of my creditors has replied to me accepting the offer the rest have either passed the accounts on to different dca? And have not given me any response to my offers!

PippaGirl_2

Are you doing it yourself? I think they take far more notice of letters from the CAB and suchlike and definitely less from us minions ourselves.

1289rs

Well initially yes I was going to but after getting no response I rang CCcs as i had read on here you get more sucess with them accepting offers via one of the charities they were supposed to call me back a few weeks ago,but I never got the call (because I'm self employed they said I'd need a phone interview with someone for around an hour) gave me a day/time for the call etc



I am going to call today and re arrange this now I have found my ref no

NewChapter_2

CCCS are very good. Not sure why they didn't call you back but there was probably a good reason for it as I have found them reliable. I am sure if you give them a call and say they didn't call then they'll arrange a call asap.

I had a session with them by one of their self employed specialists. Went on for about an hour and they did a mock business budget based on the information I gave them and then transferred that over to create a personal budget to work out income. Very eye opening, enlightening and helpful.

Not quite sure whether they will or how they will do this if you have no income coming through the books at the moment but I am sure they'll be able to offer you some guidance and advice.

Good luck