Do CC force bankruptcy? (forwarded from debt-free wanabee)

moonblue

Hi,

I have large cc debts - 86K that have accumulated since becoming ill 10 years ago. The illness (more a disability) makes it hard for me to hold down a full time job. At 49 years old and out of work again I've decided I'm too tired to fight the debt and the illness. I've been advised to apply for disability living allowance and take a part time job for the mid term.

I have a jointly owned property. My share of the equity is worth 35K maximum.

What I don't want is for the credit card companies to make me bankrupt. I'd rather negotiate full and final settlements in the near future.

I just wondered if anyone knows if credit card companies make bankruptcy orders against individuals?

Thanks

Bakeybadoo

Yes they do but it's not exactly common. It costs them more money to do so, they prefer to just huff and puff and harass you into paying.

If you are unsure which way to turn, may I suggest contacting one of the free debt advisory services:

https://www.cccs.co.uk
https://www.payplan.com
https://www.nationaldebtline.co.uk
Local CAB.

All will be able to look at your individual circumstances and advise you as to your best course of action.

fermi

And welcome to the BR forum.

I petitioned for my own bankruptcy, so I can't really answer your question.
However, there are some very knowledgeable people on here who have gone through it all

It is very quiet on this board at the moment, with the BH weekend and all, so please be patient for a reply.

Edit: Despite denials, Bakey normally beats me to it

rog2

ANY creditor has the right to petition for your Bankruptcy, providing that the unsatisfied debt is more than £750.00.
In practice, as Bakey says, they seldom do without exhausting all other procedures, as there is no guarantee that they will get ther money.
By the sound of your post, you are at the beginning of the process, and I too would reccomend that you discuss your situation with one of the debt counselling charities, who will advise you on your best solution.

Remmer

Highly unlikely. They will just hassle and hassle and hassle. As already said seek advice before the hassling drives to despair like it did to so many of us on here

moonblue

Thanks for the info everyone.

I will get in touch with one the charities.