Ask a StepChange (formerly CCCS) counsellor a bankruptcy question

Dprem84

Hi. I have a DMP with Step change. Some of the debt I am in is due to fraudulent loans taken out by someone I know; one without my knowledge and the other under co-ercion. I have not yet informed the police or action fraud of these but if I inform Step change, will they be understanding and be able to assist me?

StepChange_Kirsty

Hi there,

Thanks for your post and welcome to the forum.

If you have a debt management plan (DMP) with us I’d recommend giving us a call so we can discuss these debts further. You can find our contact details here.

I can assure you we’ll understand and we’ll give you the best advice for dealing with these debts.

We look forward to hearing from you.

Kirsty

Dprem84 wrote: »

Hi. I have a DMP with Step change. Some of the debt I am in is due to fraudulent loans taken out by someone I know; one without my knowledge and the other under co-ercion. I have not yet informed the police or action fraud of these but if I inform Step change, will they be understanding and be able to assist me?

joa1210

Hi, I!!!8217;m looking for some information on shares and how they fit into bankruptcy, my husband currently has 2 workplace shares but is unable to do anything with them for 2 years. Next won!!!8217;t he is due to receive another 2, again without being able to sell them for 2 years.
Any thanks

Former_StepChange_Linsi

Hi there


Thanks for your post.



From my understanding workplace shares can be ended at any point without a penalty.



Shares would be treated as an asset in bankruptcy and as such may be at risk.



If your husband has already declared bankruptcy he’ll need to speak to the official receiver about his shares.



If he hasn’t gone bankrupt I’d recommend calling the Insolvency Helpline on 0300 678 0015 for further advice.



There may be alternative debt solutions your partner can consider which don’t put assets at risk. He can create a budget and get tailored advice online using our Debt Remedy tool to explore possible alternative options. Here’s the link.


I hope this helps,


Linsi

joa1210 wrote: »

Hi, I!!!8217;m looking for some information on shares and how they fit into bankruptcy, my husband currently has 2 workplace shares but is unable to do anything with them for 2 years. Next won!!!8217;t he is due to receive another 2, again without being able to sell them for 2 years.
Any thanks

joa1210

thanks linsi
we're not overly concerned as we have never benifited from them as they are currently worthless to us, i think he has the opportunity to not take this years shares which may be a good idea to protect next years shares.

StepChange_Private_Messages

Hello

Thanks for your message.

Even if you’re not too concerned at the moment I’d still recommend getting some further advice about this.

If your husband has already declared bankruptcy, he needs to get in touch with the official receiver as soon as possible to discuss his shares.

If he hasn’t applied for a bankruptcy yet, he can give the Insolvency Service a call on 0300 678 0015 to discuss how a bankruptcy might affect his shares.

Thanks

Joe

joa1210 wrote: »

thanks linsi
we're not overly concerned as we have never benifited from them as they are currently worthless to us, i think he has the opportunity to not take this years shares which may be a good idea to protect next years shares.

Clouds88

question answered thanks!

Jdeescotland

Hi, I am looking for some advice on possible Bankruptcy as I am a Sole Trader of a small 3 year old business and have in the last 6 months had various final demands and CCJ's landed on me. I am concerned as it looks like I am going to have enforcement officers visiting very soon and I am wondering if there is any way that I can get through this without loosing my business. It has been 3 years of extreme pressure and expenditure but I am no at the turning point where the business is starting to level out due to referrals and repeat customers. I don't know if I should wait for the enforcement officers or apply for bankruptcy myself?
individual debts are just shy of £3000 with one being just over £4000 but this one has not been taken to court as yet although in total the debts are just under £20000

StepChange_Rachael

Hi

Thanks for your post and welcome to the forum.

I’m glad to hear you’ve finally felt able to reach out for advice and help as there are many options available for people struggling with debt. It’s definitely worth while looking into.

I’d suggest getting specialised support as you’re self-employed, the reason is that certain solutions such as bankruptcy can have an impact on your business.

A specialised debt advisor would be able to discuss the different options with you and how they might impact your business, also information on what the enforcement agents can and can’t do depending on the type of debt, including personal or business related debt.

I wouldn’t be able to say if bankruptcy is the best option for you at the moment, an advisor would need to look into things further especially in regards to the business. I’d suggest accessing free advice as soon as possible before waiting for enforcement agents, debts are usually much easier to deal with before enforcement agents are involved.

I’d suggest contacting The Business Debtline, they offer free debt advice for people that are self-employed within the UK. You don’t need to have business debts they can also advise on personal debt.

Take care.
Rachael

Jdeescotland wrote: »

Hi, I am looking for some advice on possible Bankruptcy as I am a Sole Trader of a small 3 year old business and have in the last 6 months had various final demands and CCJ's landed on me. I am concerned as it looks like I am going to have enforcement officers visiting very soon and I am wondering if there is any way that I can get through this without loosing my business. It has been 3 years of extreme pressure and expenditure but I am no at the turning point where the business is starting to level out due to referrals and repeat customers. I don't know if I should wait for the enforcement officers or apply for bankruptcy myself?
individual debts are just shy of £3000 with one being just over £4000 but this one has not been taken to court as yet although in total the debts are just under £20000

IMASMARTIE22

advise needed
9th Jun 18 at 12:04 PM

#1


hi everyone really need some help I will try and keep the post to the point:
I work 15 hours a week monthly wage 472.00 month I have had a lot of over time since I started there. they have now employed new people and moved bank staff on to permanent contracts so very little o/t if any available .
Tax credits was awarded 50.00 a month its now been removed due to a mistake saying I owe them 1200.
rent in arrears total owing is 1245.00 went to court so now the rent is 430 month [court action was when I had 3 jobs total wage under 800 pound a month then which was january 2018.
so few months not much has changed in fact its getting worse i just dont know what to do i now have enforcement notice issued againest me from a credit union that went bankcrupt/or liquidation i did send in court papaers explaining i cant pay the enforcement notice landed on friday june 8 i now have till sunday 17/6/2018 to pay the full amont well over 1200.00
it seems i cant win no matter what i do
i dont claim any benifits i have been told to apply again as im below what people need to live on [due to the over time ]
i was also told to go bancrupt [dosnt matter who told me] but how I have no money ?
advise would be welcome please